General Book-keeping & Accounting - The Book-keepers Forum (UK)

angmc · angmc

Hi, just wondering how you guys keep up to date with changes to tax/legislation etc. Is there a 'go to bible' of some sort that summarises changes and updates? I find the HMRC website quite confusing and usually end up having to click through lots of various links to get to where I need to be and then hav...

abacus12345 · abacus12345

So following on from another thread - plus the extra curricular learning.. This maybe long winded and incorrect so please bare with me. Imagine, if you will - A company produces widgets...(Original) Mr Man pays a £10000 deposit (Company policy, or a poor payer) 1) First of all I create him as a c...

ricsut · ricsut

Hello everyone!First post here after registering. Please forgive if I am asking something that is quite simple for seasoned accountants or bookkeepers.I have set up a new company in the UK which deals with sales of online subscriptions. The payment processor we use will retain 10% of the gross sale...

abacus12345 · abacus12345

Hi, Just throwing a through mental thoughts around.. Having never studied payroll I've been left to play with Moneysoft and HMRC guidance. Now firstly I've of the opinion that a payroll system should always be in place. 1)A director has taken no salary this month, a Nil RTI submission should be...

Alax · Alax

Dear Sir, I am new to this forum. I am a student attempting the ACCA exams. Could you help me with the following: (1) In the Statement of cash flows how are provisions treated for example provision for bad debts and provision for slow moving inventory? (2) How is VAT treated in the statements of cash flow...

rachel_mclean · rachel_mclean

Hi, I wonder if anyone could give me a bit of advice. I have a new client, a husband and wife who run a holiday let. They started the business within the 2015/16 tax year, the had a previous business together which was a partnership - this finished in the 2014/15 tax year and has all been dealt with. They ar...

NA_AA · NA_AA

Hi, Hope you are all well. Just a quick question - client requires a nil self assessment tax return - what additional questions or work needs to be carried out/asked before submitting the return?

Jo 123 · Jo 123

Hello everyone Like the previous poster I am also looking for a freelance accountant please. My husband is currently a sole trader providing IT support and services (turnover of approx. £65k) and we are looking for someone who can prepare his accounts and self assessment return. We are also thinki...

Emmiestar · Emmiestar

Hi Guys, My heart fills with dread at what I think I already know but here goes, my boss withdrew money from the company bank account and dished it out among late night workers as a thanks. you know, just because. How do I account for this? Apart from strangling the man so it doesn't happen again, I am at my...

pbr · pbr

Hi every one good morning My client working as a building maintenance and when he purchase the material will it be a cost of sale or will it be other cost? Please help me to find correct ledger to allocate purchase on Quick book, will be very appreciate. Thank you Minaxi

Pip1974 · Pip1974

A property developer has purchased the empty land and completed the build of a residential property in year 1 - the sale of which is due to go through in the new accounting period year 2. Are all of the expenses relating to this build held as stock as at the end of year 1?

Polie · Polie

Hi Everyone, I have a client, his method of purchasing and paying using his personal and business accounts appropriate for bookkeeping purposes. What advice can I give him to improve his business practice when purchasing a business or personal items? Many thanks,

abacus12345 · abacus12345

http://www.accaglobal.com/uk/en/qualifications/accountancy-career/aat-acca.html

Corry · Corry

Hi Guys, Can someone please confirm (or point me in the right direction) for the Year End Journal for Work in Progress Dr - WiP Cr - Sales Then when the invoice has been raised: Dr - Sales Cr - WiP The situation is this: a landscape gardener did some work in March but did not invoice it until April. The March p...

abacus12345 · abacus12345

Hey, If someone runs an ebay business, would the reconciliation run as follows - Acquire ebay statement create sage ebay 'bank' account reconcile? Or is a case of getting the paypal statement, and creating a paypal bank account in sage, or other world domineering software? Thanking you ...

abacus12345 · abacus12345

Hey Is there a comprehensive list of year end procedures that you know of online? In essence I'm on the lookout for a check list of what an accountant will do at year end to finalise the accounts. Thanks

Jay3 · Jay3

Hi Everyone, Could someone explain how this work for me please? I understand that directors can take a dividend rather than drawing a salary and paying income tax and NI? Dividends are taxed at a lower rate of 10%. Is this still the case as I seem to recall Inland Revenue was cracking down on this with IR3...

Jay3 · Jay3

I have a Ltd company which produces apps and currently I have produced 4 apps. They are selling worldwide although not in any great volume yet any advice on how to value and account for these?Thanks,Jay

Jay3 · Jay3

Hi, I mentioned before that I have Ltd company and I know have to file some accounts. I've not made any profits so far just invested about £4000.00 apart from the physical expenses I can see what other transactions should I be posting? Here are my questions?? 1) Should I be posting an adjustment of s...

Crina251075 · Crina251075

Hi guys, MY client asked me to do his book keeping but I have been waiting for his previous bookkeeper transfer the accounts to me so that I can continue for there. But till now the accounts still havent been transferred as the old bookkeeper is still tidying the accounts up. But the VAT return time is c...

Topic		Started By	Replies	Views	Last Post
	Keeping up to date (Preview) Hi, just wondering how you guys keep up to date with changes to tax/legislation etc. Is there a 'go to bible' of some sort that summarises changes and updates? I find the HMRC website quite confusing and usually end up having to click through lots of various links to get to where I need to be and then hav...	angmc	42	4601	Sat Jun 11 18:17 2016 by Cheshire
	Sage... ( 1 2 ) (Preview) So following on from another thread - plus the extra curricular learning.. This maybe long winded and incorrect so please bare with me. Imagine, if you will - A company produces widgets...(Original) Mr Man pays a £10000 deposit (Company policy, or a poor payer) 1) First of all I create him as a c...	abacus12345	84	3829	Sat Jun 11 13:00 2016 by Cheshire
	Retainage / Holdback accounting for NON-Construction companies? (Preview) Hello everyone!First post here after registering. Please forgive if I am asking something that is quite simple for seasoned accountants or bookkeepers.I have set up a new company in the UK which deals with sales of online subscriptions. The payment processor we use will retain 10% of the gross sale...	ricsut	9	1710	Sat Jun 11 12:59 2016 by Cheshire
	Payroll (Preview) Hi, Just throwing a through mental thoughts around.. Having never studied payroll I've been left to play with Moneysoft and HMRC guidance. Now firstly I've of the opinion that a payroll system should always be in place. 1)A director has taken no salary this month, a Nil RTI submission should be...	abacus12345	21	1173	Thu Jun 9 13:55 2016 by Leger
	Need help with the following (Preview) Dear Sir, I am new to this forum. I am a student attempting the ACCA exams. Could you help me with the following: (1) In the Statement of cash flows how are provisions treated for example provision for bad debts and provision for slow moving inventory? (2) How is VAT treated in the statements of cash flow...	Alax	4	892	Wed Jun 8 08:56 2016 by Cheshire
	Holiday let - split the profits on individual tax returns OR file within the partnership tax return (Preview) Hi, I wonder if anyone could give me a bit of advice. I have a new client, a husband and wife who run a holiday let. They started the business within the 2015/16 tax year, the had a previous business together which was a partnership - this finished in the 2014/15 tax year and has all been dealt with. They ar...	rachel_mclean	0	768	Sat Jun 4 12:20 2016 by rachel_mclean
	Nil self assessment tx return (Preview) Hi, Hope you are all well. Just a quick question - client requires a nil self assessment tax return - what additional questions or work needs to be carried out/asked before submitting the return?	NA_AA	5	830	Thu Jun 2 14:41 2016 by NA_AA
	Freelance Accountant Needed (Preview) Hello everyone Like the previous poster I am also looking for a freelance accountant please. My husband is currently a sole trader providing IT support and services (turnover of approx. £65k) and we are looking for someone who can prepare his accounts and self assessment return. We are also thinki...	Jo 123	2	836	Wed Jun 1 21:05 2016 by Jo 123
	Cash bonuses to staff (Preview) Hi Guys, My heart fills with dread at what I think I already know but here goes, my boss withdrew money from the company bank account and dished it out among late night workers as a thanks. you know, just because. How do I account for this? Apart from strangling the man so it doesn't happen again, I am at my...	Emmiestar	2	888	Wed Jun 1 19:18 2016 by abacus12345
	Entry on ledger (Preview) Hi every one good morning My client working as a building maintenance and when he purchase the material will it be a cost of sale or will it be other cost? Please help me to find correct ledger to allocate purchase on Quick book, will be very appreciate. Thank you Minaxi	pbr	6	908	Tue May 31 13:48 2016 by Cheshire
	Property development treatment (Preview) A property developer has purchased the empty land and completed the build of a residential property in year 1 - the sale of which is due to go through in the new accounting period year 2. Are all of the expenses relating to this build held as stock as at the end of year 1?	Pip1974	0	636	Tue May 31 12:51 2016 by Pip1974
	advice (Preview) Hi Everyone, I have a client, his method of purchasing and paying using his personal and business accounts appropriate for bookkeeping purposes. What advice can I give him to improve his business practice when purchasing a business or personal items? Many thanks,	Polie	6	920	Tue May 31 12:18 2016 by Leger
	AAT to ACCA ( 1 2 ) (Preview) http://www.accaglobal.com/uk/en/qualifications/accountancy-career/aat-acca.html	abacus12345	50	5148	Mon May 30 19:01 2016 by abacus12345
	Double entry for WiP for YE Accounts (Preview) Hi Guys, Can someone please confirm (or point me in the right direction) for the Year End Journal for Work in Progress Dr - WiP Cr - Sales Then when the invoice has been raised: Dr - Sales Cr - WiP The situation is this: a landscape gardener did some work in March but did not invoice it until April. The March p...	Corry	1	1580	Mon May 30 18:23 2016 by Cheshire
	ebay reconciliation (Preview) Hey, If someone runs an ebay business, would the reconciliation run as follows - Acquire ebay statement create sage ebay 'bank' account reconcile? Or is a case of getting the paypal statement, and creating a paypal bank account in sage, or other world domineering software? Thanking you ...	abacus12345	12	1476	Sun May 29 22:26 2016 by abacus12345
	LTD Year end(s) (Preview) Hey Is there a comprehensive list of year end procedures that you know of online? In essence I'm on the lookout for a check list of what an accountant will do at year end to finalise the accounts. Thanks	abacus12345	7	4871	Wed May 25 11:38 2016 by Leger
	Using a Ltd Company to Save Tax. ( 1 2 ) (Preview) Hi Everyone, Could someone explain how this work for me please? I understand that directors can take a dividend rather than drawing a salary and paying income tax and NI? Dividends are taxed at a lower rate of 10%. Is this still the case as I seem to recall Inland Revenue was cracking down on this with IR3...	Jay3	52	10474	Mon May 23 17:29 2016 by Cheshire
	App Valuations (Preview) I have a Ltd company which produces apps and currently I have produced 4 apps. They are selling worldwide although not in any great volume yet any advice on how to value and account for these?Thanks,Jay	Jay3	18	1293	Mon May 23 14:03 2016 by Leger
	Ltd Company Accounts Advice (Preview) Hi, I mentioned before that I have Ltd company and I know have to file some accounts. I've not made any profits so far just invested about £4000.00 apart from the physical expenses I can see what other transactions should I be posting? Here are my questions?? 1) Should I be posting an adjustment of s...	Jay3	19	1174	Sun May 22 09:13 2016 by Jay3
	Waiting for Accounts transfer or not? (Preview) Hi guys, MY client asked me to do his book keeping but I have been waiting for his previous bookkeeper transfer the accounts to me so that I can continue for there. But till now the accounts still havent been transferred as the old bookkeeper is still tidying the accounts up. But the VAT return time is c...	Crina251075	2	746	Sat May 21 15:24 2016 by Haymac
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