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

Grace2015 · Grace2015

Hi I work for a charity. My company does not have a fixed assets register at all. when the auditors come, my manager usually give a them a simply sheet with fixed assets on it. I would like to create a fix assets register but got no experience at all. I have a list as below computers and servers printers ...

Grace2015 · Grace2015

Hi My company has merged with two other companies since April 2015. we took over their accounts in July and all recorded in one company's account . but the accounts for the other two companies between Apr to Jul are still not recorded on Sage( our current financial year is from Apr 2015 to Mar 2016.) All...

stokeyjay · stokeyjay

Hello Gus and gals.. I need help I got mind block. A company has been incorporated with 500 share @ £1000. there are 2 shareholder 50% each ie 250 shares each.. Now the tricky part. there was condition that there must be £500,000 in bank on company creation and fund can be withdrawn after 2 weeks. Share...

MichaelWGroves · MichaelWGroves

I have a Buy-To-Let, I know I can claim the interest element of upto 100% of the valuatiobn when first let. However, suppose this scenario, I buy property 'A' with 100% mortgage @ £100k I need to replace the windows with like-for-like, so no capital gain, just maintenance. The windows cost £10k of whi...

CLH · CLH

Hi I've just signed up my first client and helped him register online as self-employed. It's a very small job for a bookkeeper (gotta start somewhere, I suppose?) something most sole-traders would do themselves at this stage, but he wants me to do all his bookkeeping. Which is fine, I understand no...

Keri002 · Keri002

Hi, If someone currently book-keeps onto Quickbooks as a sole trader and then they change to a Limited company, would someone mind advising me of the book-keeping process. The client also has got mixed up and has been making payments from sole trader account when should be limited and invoicing from...

Plusside Ltd · Plusside Ltd

Hello everyone, Working on VT I've just input up to year end for my client who owns a shop selling bits and pieces. They have recently donated an item to a local school for their fair and I have no idea how to input this as no money was exchanged just a stock item? Please help? Kind regards Michele

twmmwt · twmmwt

If I have raised a Customer Invoice in Sage, but have to credit part of the amount, would I used the Customer > Batch Credit module or just raise a Credit Note in the Invoice/Credit module? What is the difference between a Credit and Batch Credit?

nicd1981 · nicd1981

Hi All, I have been asked by a friend to take over his accounts next year, His company is registered for VAT and is a limited company. His accounts are submitted through companies house. He asked me what his current accountant does to Audit his accounts, But as he's way under the threshold I assume they d...

abacus12345 · abacus12345

Hi. A supervisor is 'usually' seen as a indirect expense. If that supervisor also works on the production line, is that supervisor now a direct expense? Is a landlord/lady a direct or indirect expense? If said licence holder sits upstairs with their feet up, is this a direct or indirect cost. No l...

Grace2015 · Grace2015

Hi All Please can anyone who are very experienced in Sage help me. I have a BT account which is in credit £ 600.78 due to BT's system error. Although I contacted BT my times and the issues have not been resolved . I would like to take the error out from Sage. But how? as I realise that posting journals won't a...

Grace2015 · Grace2015

Hi we pay to the City Council for rates for 5 offices on different locations . all payments have been set up DD. But only one supplier account and 5 project numbers for 5 offices set up on Sage. After a few months, It is easy to get mixed up and misallocate the DD against the wong invoice. Are there better w...

abacus12345 · abacus12345

Hi Are any of you guys subscribers to this mag? Thoughts please Any other alternatives which do not cost a fortune? Thanks in advance

Grace2015 · Grace2015

HI All I work for a small charity. I have two questions regarding petty cash. 1. what is minimum amount for petty cash? as sometimes we use petty cash to pay for an invoice which is £90? 2 . Do you use imprest system ? we just top up petty cash with any amount as we need. Thanks in advance

Rcarol · Rcarol

Hi, I have gone back into accounting after 8 yrs & my mum seems to be failing me. We use Quickbooks, I am guessing all the purchases/ invoices etc go in to the suppliers & entered into the system waiting to be paid. What happens with the ones that are paid by direct debit or the ones that I have...

tichbourn · tichbourn

Hi, I'm wondering if anyone can give me a pointer in a couple of ratios please? I have an assessment in a few days, and am struggling with some of the notes I've been given, well it's more how to interpret the results as the notes are not that great for some. For each ratio, I have to interpret the results o...

Grace2015 · Grace2015

Hi at the end of December 2015 , we accrued £500 for electricity bill on Sage. Double entry Dr Electricity ( 7060) 500 Cr Accruals (2220 ) 500 Now now I received the invoice £625.00 . what should I do on sage and what is double entry? thanks in advance for your help?

rafapak · rafapak

hi guys When we talk about expenses we usually think of using something. For instance we used electricity in our factory therefore we have electricity expense. When we post income tax entries are : Dt income tax expense Cr income tax payable Credit entry tells us about liability we owe. Debit entry...

CarolineS2 · CarolineS2

Good evening, I have a client (limited company) who I have set up on Quickbooks from 01/01/2014. Prior to this he kept very poor accounting records and all I received was a balance sheet from his existing accountant - which I have used to set up QB. On 02/02/2014 my client has paid back a company loan whi...

abacus12345 · abacus12345

Hey. If you work from home, what is the setup In regards to getting hold of your clients paperwork? Do you have them drop it around? Or do you collect? I imagine collecting would be a chore! How often do you see your clients? Once a month? When you do see your clients, are you regularly put on the...

Topic		Started By	Replies	Views	Last Post
	Fixed assets register (Preview) Hi I work for a charity. My company does not have a fixed assets register at all. when the auditors come, my manager usually give a them a simply sheet with fixed assets on it. I would like to create a fix assets register but got no experience at all. I have a list as below computers and servers printers ...	Grace2015	1	1061	Thu Jan 21 23:15 2016 by Cheshire
	Consolidation of accounts after merger (Preview) Hi My company has merged with two other companies since April 2015. we took over their accounts in July and all recorded in one company's account . but the accounts for the other two companies between Apr to Jul are still not recorded on Sage( our current financial year is from Apr 2015 to Mar 2016.) All...	Grace2015	0	559	Thu Jan 21 22:48 2016 by Grace2015
	New Company Share Capital & withdrawl after 2 weeks.. Dobule entry confusion share capital loans (Preview) Hello Gus and gals.. I need help I got mind block. A company has been incorporated with 500 share @ £1000. there are 2 shareholder 50% each ie 250 shares each.. Now the tricky part. there was condition that there must be £500,000 in bank on company creation and fund can be withdrawn after 2 weeks. Share...	stokeyjay	11	6982	Thu Jan 21 22:11 2016 by Cheshire
	Loan Interest Claimable (Preview) I have a Buy-To-Let, I know I can claim the interest element of upto 100% of the valuatiobn when first let. However, suppose this scenario, I buy property 'A' with 100% mortgage @ £100k I need to replace the windows with like-for-like, so no capital gain, just maintenance. The windows cost £10k of whi...	MichaelWGroves	5	2441	Thu Jan 21 21:39 2016 by MichaelWGroves
	Disguised employment? (Preview) Hi I've just signed up my first client and helped him register online as self-employed. It's a very small job for a bookkeeper (gotta start somewhere, I suppose?) something most sole-traders would do themselves at this stage, but he wants me to do all his bookkeeping. Which is fine, I understand no...	CLH	13	1347	Thu Jan 21 18:29 2016 by TaxAdviser
	From sole trader to Limited Company (Preview) Hi, If someone currently book-keeps onto Quickbooks as a sole trader and then they change to a Limited company, would someone mind advising me of the book-keeping process. The client also has got mixed up and has been making payments from sole trader account when should be limited and invoicing from...	Keri002	0	783	Wed Jan 20 08:42 2016 by Keri002
	Shop stock donations? (Preview) Hello everyone, Working on VT I've just input up to year end for my client who owns a shop selling bits and pieces. They have recently donated an item to a local school for their fair and I have no idea how to input this as no money was exchanged just a stock item? Please help? Kind regards Michele	Plusside Ltd	2	680	Tue Jan 19 14:53 2016 by Plusside Ltd
	Batch credit or Credit? (Preview) If I have raised a Customer Invoice in Sage, but have to credit part of the amount, would I used the Customer > Batch Credit module or just raise a Credit Note in the Invoice/Credit module? What is the difference between a Credit and Batch Credit?	twmmwt	1	624	Tue Jan 19 11:49 2016 by Haymac
	Audit year end accounts (Preview) Hi All, I have been asked by a friend to take over his accounts next year, His company is registered for VAT and is a limited company. His accounts are submitted through companies house. He asked me what his current accountant does to Audit his accounts, But as he's way under the threshold I assume they d...	nicd1981	4	1336	Mon Jan 18 22:27 2016 by nicd1981
	direct V indirect expenses (Preview) Hi. A supervisor is 'usually' seen as a indirect expense. If that supervisor also works on the production line, is that supervisor now a direct expense? Is a landlord/lady a direct or indirect expense? If said licence holder sits upstairs with their feet up, is this a direct or indirect cost. No l...	abacus12345	1	758	Mon Jan 18 10:11 2016 by stokeyjay
	Journals not affecting day books on Sage? (Preview) Hi All Please can anyone who are very experienced in Sage help me. I have a BT account which is in credit £ 600.78 due to BT's system error. Although I contacted BT my times and the issues have not been resolved . I would like to take the error out from Sage. But how? as I realise that posting journals won't a...	Grace2015	5	956	Sat Jan 16 14:39 2016 by Cheshire
	Rates (Preview) Hi we pay to the City Council for rates for 5 offices on different locations . all payments have been set up DD. But only one supplier account and 5 project numbers for 5 offices set up on Sage. After a few months, It is easy to get mixed up and misallocate the DD against the wong invoice. Are there better w...	Grace2015	6	1146	Sat Jan 16 14:38 2016 by Cheshire
	Tax insider magazine (Preview) Hi Are any of you guys subscribers to this mag? Thoughts please Any other alternatives which do not cost a fortune? Thanks in advance	abacus12345	5	932	Fri Jan 15 16:02 2016 by abacus12345
	Petty cash (Preview) HI All I work for a small charity. I have two questions regarding petty cash. 1. what is minimum amount for petty cash? as sometimes we use petty cash to pay for an invoice which is £90? 2 . Do you use imprest system ? we just top up petty cash with any amount as we need. Thanks in advance	Grace2015	12	1479	Thu Jan 14 19:07 2016 by Grace2015
	Purchase Invoices & Payments (Preview) Hi, I have gone back into accounting after 8 yrs & my mum seems to be failing me. We use Quickbooks, I am guessing all the purchases/ invoices etc go in to the suppliers & entered into the system waiting to be paid. What happens with the ones that are paid by direct debit or the ones that I have...	Rcarol	1	725	Wed Jan 13 18:59 2016 by Lady of Ledger
	Ratio analysis (Preview) Hi, I'm wondering if anyone can give me a pointer in a couple of ratios please? I have an assessment in a few days, and am struggling with some of the notes I've been given, well it's more how to interpret the results as the notes are not that great for some. For each ratio, I have to interpret the results o...	tichbourn	0	4140	Tue Jan 12 22:08 2016 by tichbourn
	accrual (Preview) Hi at the end of December 2015 , we accrued £500 for electricity bill on Sage. Double entry Dr Electricity ( 7060) 500 Cr Accruals (2220 ) 500 Now now I received the invoice £625.00 . what should I do on sage and what is double entry? thanks in advance for your help?	Grace2015	2	814	Tue Jan 12 20:05 2016 by Grace2015
	income tax expense (Preview) hi guys When we talk about expenses we usually think of using something. For instance we used electricity in our factory therefore we have electricity expense. When we post income tax entries are : Dt income tax expense Cr income tax payable Credit entry tells us about liability we owe. Debit entry...	rafapak	2	824	Tue Jan 12 18:22 2016 by rafapak
	Company Loan Repayment - Confused! (Preview) Good evening, I have a client (limited company) who I have set up on Quickbooks from 01/01/2014. Prior to this he kept very poor accounting records and all I received was a balance sheet from his existing accountant - which I have used to set up QB. On 02/02/2014 my client has paid back a company loan whi...	CarolineS2	6	697	Tue Jan 12 17:28 2016 by Onion4Sage
	Paperwork etc (Preview) Hey. If you work from home, what is the setup In regards to getting hold of your clients paperwork? Do you have them drop it around? Or do you collect? I imagine collecting would be a chore! How often do you see your clients? Once a month? When you do see your clients, are you regularly put on the...	abacus12345	4	893	Tue Jan 12 15:24 2016 by Leger
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