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

Nikole · Nikole

I am just about to post some accruals and just need to clarify something. If the company is cash accounting can i post the accrual journal as gross rather than net and then posting the vat to the control account. Thanks

Jay3 · Jay3

Hi, Have a calculated this correctly? Sole Trader Income 40,000 Allowance 11,000 29,000 Class 2 NI 143 Class 4 3,600 Tax 5,800 9,543 19,457 Many thanks, Jay

Borboleta · Borboleta

Hi everyone, Happy Monday! I've put an advert online and they haven't sent me a receipt. The amount is very small (under 5 pounds), so it's not going to make a big difference whether I include it as an expense or not, but I wondered what happens in these situations. Is my bank statement enough of a proof, o...

Anna88 · Anna88

Hi, I am wondering if Microsoft Office 365 License and Google for Work should be classified as a general expenses/ subscription or computer expenses? Many thanks, Anna

Pawsy · Pawsy

Hello, I am fairly new to QuickBooks and bookkeeping (studying for my last ICB level 3 exam). When I first set up my company on QB, I was depositing money into my bank account and using 4790 nc for sales. Since I have been using QB properly (I think!) I have created and invoice, paid the invoice off and ha...

JKO · JKO

Hi everyone How would you deal with restaurant sales in the accounting package? Would you create a sales invoice then allocate the cash receipts and cc receipts as they come in? that makes sense to me. Also when someone pays a deposit or buys a gift voucher I was thinking of putting that as a prepayment t...

Elaine R · Elaine R

Hi, I am just about to email a client re claiming expenses for meals. He is putting regular receipts in for when he appears to be working at his regular workplace. Whilst I am on the subject he also claims a lot of parking expenses locally too. Where do we stand on this one? Is he ok to claim or is it simila...

Leger · Leger

I've been asked this as a question and realised I don't truly know the answer. If a client finds receipts from the previous year, can they be included in the next accounts?

elizabeth · elizabeth

Need help to write off an old debt and when I attempt to use the heading in customers section of Write off/Refund, a message comes up to say "Not recommended when using Cash Accounting" How, then do I post Bad Debt. I am using Sage Instant Accounts. -- Edited by elizabeth on Monday 16th of May 2016 11:19...

Lulu3376 · Lulu3376

urgently need some insight into partners self employed vehicle costs please!! can all HP payments go through as an expense? If also used 50% personal? Can all fuel, insurance, servicing and other costs go through as an expense if used 50% of the time for personal use? Can someone explain what the atta...

Elaine R · Elaine R

HI, It might seem a silly question but here goes: I do balance sheet reconciliations as part of my job at month end. I am fine with them all apart from reconciling the VAT. How am I supposed to do this? I have got my figure from my TB and need to reconcile back to that but have no idea where to start. Elaine

Accountingnewby · Accountingnewby

Hello, I believe if a sole trader is working from home that £3 a week can be claimed as an expense. What does this cover? Is it possible to claim any additional costs such as heating and lighting or are these included in the £3? Thanks for your help

sage123 · sage123

DEAR ALL, JUST A QUERY ON ABOVE, WE KEEP THE BOOKS FOR A MOBILE FRANCHISEE AND THE ABOVE COSTS SHOULD BE PREPAID? THE INVOICE DOESN'T STATE ANY PERIOD, SO ASSUME IN GENERAL THESE ARE OVER 12 MONTHS? REGARDS

Cheshire · Cheshire

https://www.gov.uk/hmrc-internal-manuals/vat-supply-and-consideration/vatsc60000

Pitstop · Pitstop

help! I have been been dropped in it in work. Our finance person over paid my Director on his expenses last month by £70. I have now taken over this role (not by choice!). We use Sage Instant accounts and i have to correct this this month now he has submitted his expenses. She knew she did it and i asked her be...

Citygal · Citygal

What is the correct way to deal with a Company amalgamation in Sage. I have two companies with the same trading name - but with North and South Divisions. I only have sales records for the Northern Division. They have now told me that the companies have reorganised and both the North & South Divi...

nissie · nissie

Hi I'm using sage one and have produced year end accounts. After paying corporation tax and dividends there is a small £1000 retained profit amount. Ive done journals to remove the tax liability and dividend liability from the balance sheet etc etc What do I do with the retained profits? Will this aff...

Kate Blank · Kate Blank

Hi, Is there a way in Sage to apply Prepayments (Sage default N/C 1103) to supplier invoices? A designer is redesigning & furnishing our office. We prepaid £25,000 to cover deposits, disbursements, expenses. As the work is done, we receive invoices for materials & labour that the £25,000...

jillemily · jillemily

Please could someone advise I have just taken on a new client who started some self employed work in January 2015 and also purchased some equipment and supplies then too she has decided to set up to work from home and registered as self employed earlier this year, obviously her books from Apr '15 - Apr '1...

S R Philip · S R Philip

Hello I'm currently working my way through the above course via distance learning. I'm struggling a bit with sage and my course support tutor is not being much help to be honest. Can anyone explain the difference between posting invoices through the invoice module as opposed to using the batch invoi...

Topic		Started By	Replies	Views	Last Post
	Accruals and cash accounting (Preview) I am just about to post some accruals and just need to clarify something. If the company is cash accounting can i post the accrual journal as gross rather than net and then posting the vat to the control account. Thanks	Nikole	8	985	Sat May 21 11:42 2016 by Cheshire
	Tax and NI as a Sole Trade - Can someone check my workings please? (Preview) Hi, Have a calculated this correctly? Sole Trader Income 40,000 Allowance 11,000 29,000 Class 2 NI 143 Class 4 3,600 Tax 5,800 9,543 19,457 Many thanks, Jay	Jay3	8	1025	Thu May 19 22:26 2016 by Jay3
	No receipt (Preview) Hi everyone, Happy Monday! I've put an advert online and they haven't sent me a receipt. The amount is very small (under 5 pounds), so it's not going to make a big difference whether I include it as an expense or not, but I wondered what happens in these situations. Is my bank statement enough of a proof, o...	Borboleta	11	2050	Thu May 19 09:15 2016 by bk
	Cost Classification (Preview) Hi, I am wondering if Microsoft Office 365 License and Google for Work should be classified as a general expenses/ subscription or computer expenses? Many thanks, Anna	Anna88	12	987	Thu May 19 09:12 2016 by bk
	Quickbooks - Moving sales to sales income (Preview) Hello, I am fairly new to QuickBooks and bookkeeping (studying for my last ICB level 3 exam). When I first set up my company on QB, I was depositing money into my bank account and using 4790 nc for sales. Since I have been using QB properly (I think!) I have created and invoice, paid the invoice off and ha...	Pawsy	10	1011	Wed May 18 19:05 2016 by Pawsy
	Restaurant sales (Preview) Hi everyone How would you deal with restaurant sales in the accounting package? Would you create a sales invoice then allocate the cash receipts and cc receipts as they come in? that makes sense to me. Also when someone pays a deposit or buys a gift voucher I was thinking of putting that as a prepayment t...	JKO	36	2683	Wed May 18 14:16 2016 by Cheshire
	Car Parking expenses (Preview) Hi, I am just about to email a client re claiming expenses for meals. He is putting regular receipts in for when he appears to be working at his regular workplace. Whilst I am on the subject he also claims a lot of parking expenses locally too. Where do we stand on this one? Is he ok to claim or is it simila...	Elaine R	3	800	Tue May 17 21:45 2016 by Meadowlands
	Receipts from the previous year (Preview) I've been asked this as a question and realised I don't truly know the answer. If a client finds receipts from the previous year, can they be included in the next accounts?	Leger	14	1163	Tue May 17 09:47 2016 by Shamus
	Bad Debts using Cash Accounting for VAT (Preview) Need help to write off an old debt and when I attempt to use the heading in customers section of Write off/Refund, a message comes up to say "Not recommended when using Cash Accounting" How, then do I post Bad Debt. I am using Sage Instant Accounts. -- Edited by elizabeth on Monday 16th of May 2016 11:19...	elizabeth	1	816	Tue May 17 00:06 2016 by Cheshire
	Self employed and motor expenses (Preview) urgently need some insight into partners self employed vehicle costs please!! can all HP payments go through as an expense? If also used 50% personal? Can all fuel, insurance, servicing and other costs go through as an expense if used 50% of the time for personal use? Can someone explain what the atta...	Lulu3376	9	1040	Sat May 14 10:52 2016 by abacus12345
	Balance Sheet Reconciliations (Preview) HI, It might seem a silly question but here goes: I do balance sheet reconciliations as part of my job at month end. I am fine with them all apart from reconciling the VAT. How am I supposed to do this? I have got my figure from my TB and need to reconcile back to that but have no idea where to start. Elaine	Elaine R	3	896	Wed May 11 18:27 2016 by Cheshire
	claimable expenses (Preview) Hello, I believe if a sole trader is working from home that £3 a week can be claimed as an expense. What does this cover? Is it possible to claim any additional costs such as heating and lighting or are these included in the £3? Thanks for your help	Accountingnewby	12	5923	Wed May 11 11:57 2016 by Cheshire
	BRAND FEES, IT FEES, MANAGEMENT FEES (Preview) DEAR ALL, JUST A QUERY ON ABOVE, WE KEEP THE BOOKS FOR A MOBILE FRANCHISEE AND THE ABOVE COSTS SHOULD BE PREPAID? THE INVOICE DOESN'T STATE ANY PERIOD, SO ASSUME IN GENERAL THESE ARE OVER 12 MONTHS? REGARDS	sage123	4	770	Tue May 10 13:14 2016 by sage123
	HMRC! (Preview) https://www.gov.uk/hmrc-internal-manuals/vat-supply-and-consideration/vatsc60000	Cheshire	1	875	Mon May 9 21:28 2016 by VinceH
	Help - over payment of expenses and Sage (Preview) help! I have been been dropped in it in work. Our finance person over paid my Director on his expenses last month by £70. I have now taken over this role (not by choice!). We use Sage Instant accounts and i have to correct this this month now he has submitted his expenses. She knew she did it and i asked her be...	Pitstop	6	1468	Mon May 9 16:15 2016 by Pitstop
	Dealing with Company name changes in Sage (Preview) What is the correct way to deal with a Company amalgamation in Sage. I have two companies with the same trading name - but with North and South Divisions. I only have sales records for the Northern Division. They have now told me that the companies have reorganised and both the North & South Divi...	Citygal	4	792	Sat May 7 15:45 2016 by Cheshire
	Retained Profits (Preview) Hi I'm using sage one and have produced year end accounts. After paying corporation tax and dividends there is a small £1000 retained profit amount. Ive done journals to remove the tax liability and dividend liability from the balance sheet etc etc What do I do with the retained profits? Will this aff...	nissie	18	1172	Fri May 6 19:16 2016 by Cheshire
	Applying Prepayments to Supplier Invoices - Sage 50 Accounts (Preview) Hi, Is there a way in Sage to apply Prepayments (Sage default N/C 1103) to supplier invoices? A designer is redesigning & furnishing our office. We prepaid £25,000 to cover deposits, disbursements, expenses. As the work is done, we receive invoices for materials & labour that the £25,000...	Kate Blank	2	2275	Thu May 5 12:51 2016 by Kate Blank
	Advice for new client (Preview) Please could someone advise I have just taken on a new client who started some self employed work in January 2015 and also purchased some equipment and supplies then too she has decided to set up to work from home and registered as self employed earlier this year, obviously her books from Apr '15 - Apr '1...	jillemily	2	850	Wed May 4 21:04 2016 by Leger
	ICB Bookkeeping Level 2. (Preview) Hello I'm currently working my way through the above course via distance learning. I'm struggling a bit with sage and my course support tutor is not being much help to be honest. Can anyone explain the difference between posting invoices through the invoice module as opposed to using the batch invoi...	S R Philip	1	637	Wed May 4 20:47 2016 by Cheshire
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