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

blowfish · blowfish

Hi, I have a question regarding bank payments for invoices in previous months. My understanding is that payments should be recorded using the actual payment date in the bank and not the date of the invoice, otherwise the bank account balance on the bank statement for that month will not match the bank...

justme0316 · justme0316

http://www.bbc.co.uk/mediacentre/proginfo/2016/03/town-that-took-on-taxman

justme0316 · justme0316

hi, Quick question, Is year end profit, for a sole trader transferred to the capital account after the figure from income tax has been deducted? Thanks

Rcarol · Rcarol

Hi Everyone i have gone back into accounts after 9 years & I am very rusty, I am using quick books online, which I have never used but got my head around it. When purchase invoices come in am I right in saying that they are entered on to suppliers with the amount, description etc ?, the. They sit there...

choccly-pops · choccly-pops

Hi everyone and Happy New Year! I am working on Kashflow, and have an estate agent client who has set up suppliers (the landlords) and customers (the tenants). So, I input the rent received from tenant to the customer account, say £400, and input the rent paid to the landlord in the supplier account, sa...

Grace2015 · Grace2015

Hi We had a bad debt writen off last year but received a cheque today. what is the treatment on Sage 50? Kind regards

Grace2015 · Grace2015

Hi I have read a Book regarding Bookkeeping & Accounting. It says that Bookkeepers use Cash Basis and Accountants use Accrual basis. seems to me that it is not quite right. what is your oppinion regarding this? Kind regards -- Edited by Grace2015 on Monday 4th of Janu...

Gail72 · Gail72

Hi I have come accross someting ive not seen before and unfortunately the situation is iffy re what tax year it fall into ie 14/15 or 15/16 A client has been paid by their customer on 1st April 2015. This was payment for work for the month of April 15 and not due to be invoiced until 30 April 2015. Invoices...

Elaine R · Elaine R

Hi, I have a client who books I do. He trades on all the Amazon platforms and also Ebay. Ebay I don't have an issue with but the Amazon Sales I am having murders with. The software I am using is quickfile and I upload the bank statements in to this every 2 weeks. I match off the Amazon Sales to the amounts in t...

KAZ · KAZ

Hello! I have a client who works unsociable hours as a Doorman. How much can he reasonably put through for food and drink in his accounts. He seems to be spending an awful lot :)

looby999 · looby999

If an asset is bought mid way through accounting year does it have to be prorated on the WDA allowance? Also can loan repayments be included in business expenses? Many thanks

Roma · Roma

Hi,I am trying to complete a CT600 for a company which only income trough financial year is a dividend from a 50% owned company.I cannot figure out where the income should be shown on the CT600. Can it be showed as a franked income? It is shown as other income on the P&L of the statutory accounts. I a...

Cheshire · Cheshire

Hope you can help. Second hand car dealership use margin scheme. New client to me - all done incorrectly as they have been including internal and other costs in calculations of 'cost' of car instead of just the purchase price. So now I have to back track this quarter and adjust the VAT (by Thursday!!)....

Margaret77 · Margaret77

Hi All, I am wondering if anyone can help me. I need to credit a nominal a/c - Deposits for Machinery- and debit a customers account. Last year an amount of 10000 was credited to the nominal account - Deposits for Machinery. Now I need to move this to the Customers own account as I have this outstanding bal...

joyids · joyids

Hi Really stuck here and I know the answer must be so easy but I think i'm reading too much into it. Question: A sole trader just opened a small business and introduced second-hand tools into the business, the tools with a cost value of £800 are allocated for hire and the tools with a cost value of £700 are a...

rafapak · rafapak

hi guys What are AQA AS accounting courses?

Steve Angliss · Steve Angliss

Hi, I'm new to the forum and bookkeeping in general! I only do my own books for my ltd company, so I'm not sure if I'm in the right forum? The company is new and I have signed up to sage one accounting and payroll. My question relates to my insurance on the Trucks I operate (I'm a haulage company). The insura...

Elaine R · Elaine R

Hi, I am trying to learn more about the Directors Loan account. Mainly for myself as I am a limited company for my part time bookkeeping business but also for future reference. I understand that sometime directors use their own money to purchase things for the business and this gets posted to the DL ac...

rafapak · rafapak

hi People say that when you sell on credit your entries are: Receivables Dt Sales Cr when money is received: Bank Dt Receivables Cr Let's say I produce chairs and sell them. My chairs are my assets. When I sell them my assets decrease. Why in entries above nothing is said about the fact that my assets d...

rafapak · rafapak

hi guys I know this question asks about basics but sometimes I have troubles to figure out basics on my own therefore I am asking people on forum. Let's say in the previous period there were timing differences . If you want to compare this period cash book with bank statement you need previous period's b...

Topic		Started By	Replies	Views	Last Post
	Recording Bank Payments - what date to use... (Preview) Hi, I have a question regarding bank payments for invoices in previous months. My understanding is that payments should be recorded using the actual payment date in the bank and not the date of the invoice, otherwise the bank account balance on the bank statement for that month will not match the bank...	blowfish	12	927	Tue Jan 12 15:03 2016 by blowfish
	BBC TWO 20/01/16 9pm (Preview) http://www.bbc.co.uk/mediacentre/proginfo/2016/03/town-that-took-on-taxman	justme0316	3	712	Tue Jan 12 14:49 2016 by VinceH
	Profit (Preview) hi, Quick question, Is year end profit, for a sole trader transferred to the capital account after the figure from income tax has been deducted? Thanks	justme0316	32	1904	Tue Jan 12 14:06 2016 by Leger
	Purchase Invoices & Suppliers (Preview) Hi Everyone i have gone back into accounts after 9 years & I am very rusty, I am using quick books online, which I have never used but got my head around it. When purchase invoices come in am I right in saying that they are entered on to suppliers with the amount, description etc ?, the. They sit there...	Rcarol	2	596	Mon Jan 11 21:46 2016 by Rcarol
	Estate Agent commission (Preview) Hi everyone and Happy New Year! I am working on Kashflow, and have an estate agent client who has set up suppliers (the landlords) and customers (the tenants). So, I input the rent received from tenant to the customer account, say £400, and input the rent paid to the landlord in the supplier account, sa...	choccly-pops	9	1077	Mon Jan 11 11:48 2016 by choccly-pops
	Bad debt recovered (Preview) Hi We had a bad debt writen off last year but received a cheque today. what is the treatment on Sage 50? Kind regards	Grace2015	5	2513	Sat Jan 9 23:24 2016 by Grace2015
	Bookkeepers use Cash basis ,Accountants use Accural basis (Preview) Hi I have read a Book regarding Bookkeeping & Accounting. It says that Bookkeepers use Cash Basis and Accountants use Accrual basis. seems to me that it is not quite right. what is your oppinion regarding this? Kind regards -- Edited by Grace2015 on Monday 4th of Janu...	Grace2015	11	4663	Sat Jan 9 21:16 2016 by Lady of Ledger
	Customer has paid before invoice due to be raised (Preview) Hi I have come accross someting ive not seen before and unfortunately the situation is iffy re what tax year it fall into ie 14/15 or 15/16 A client has been paid by their customer on 1st April 2015. This was payment for work for the month of April 15 and not due to be invoiced until 30 April 2015. Invoices...	Gail72	2	843	Sat Jan 9 21:00 2016 by Lady of Ledger
	Anyone an expert on Amazon sales? (Preview) Hi, I have a client who books I do. He trades on all the Amazon platforms and also Ebay. Ebay I don't have an issue with but the Amazon Sales I am having murders with. The software I am using is quickfile and I upload the bank statements in to this every 2 weeks. I match off the Amazon Sales to the amounts in t...	Elaine R	10	1290	Sat Jan 9 15:18 2016 by Elaine R
	Unsociable Hours (Preview) Hello! I have a client who works unsociable hours as a Doorman. How much can he reasonably put through for food and drink in his accounts. He seems to be spending an awful lot :)	KAZ	3	869	Fri Jan 8 16:07 2016 by Shamus
	Writing Down Allowance (Preview) If an asset is bought mid way through accounting year does it have to be prorated on the WDA allowance? Also can loan repayments be included in business expenses? Many thanks	looby999	18	1282	Wed Jan 6 21:26 2016 by matt123
	Companies income only dividends from owned company -CT600 (Preview) Hi,I am trying to complete a CT600 for a company which only income trough financial year is a dividend from a 50% owned company.I cannot figure out where the income should be shown on the CT600. Can it be showed as a franked income? It is shown as other income on the P&L of the statutory accounts. I a...	Roma	2	828	Wed Jan 6 21:22 2016 by matt123
	Calling Vince, Michelle and any other sage gurus out there - need help - brain battered. HELP please (Preview) Hope you can help. Second hand car dealership use margin scheme. New client to me - all done incorrectly as they have been including internal and other costs in calculations of 'cost' of car instead of just the purchase price. So now I have to back track this quarter and adjust the VAT (by Thursday!!)....	Cheshire	4	901	Tue Jan 5 21:30 2016 by Cheshire
	Transferring funds (Preview) Hi All, I am wondering if anyone can help me. I need to credit a nominal a/c - Deposits for Machinery- and debit a customers account. Last year an amount of 10000 was credited to the nominal account - Deposits for Machinery. Now I need to move this to the Customers own account as I have this outstanding bal...	Margaret77	3	884	Tue Jan 5 19:40 2016 by Cheshire
	Capital, Asset or stock (Preview) Hi Really stuck here and I know the answer must be so easy but I think i'm reading too much into it. Question: A sole trader just opened a small business and introduced second-hand tools into the business, the tools with a cost value of £800 are allocated for hire and the tools with a cost value of £700 are a...	joyids	9	1020	Tue Jan 5 19:12 2016 by Cheshire
	out of curiosity- AQA (Preview) hi guys What are AQA AS accounting courses?	rafapak	7	1271	Mon Jan 4 23:49 2016 by Cheshire
	How to post Insurance Payments as installments with interest in Sage One (Preview) Hi, I'm new to the forum and bookkeeping in general! I only do my own books for my ltd company, so I'm not sure if I'm in the right forum? The company is new and I have signed up to sage one accounting and payroll. My question relates to my insurance on the Trucks I operate (I'm a haulage company). The insura...	Steve Angliss	3	3988	Mon Jan 4 18:53 2016 by Cheshire
	Directors Loan Account (Preview) Hi, I am trying to learn more about the Directors Loan account. Mainly for myself as I am a limited company for my part time bookkeeping business but also for future reference. I understand that sometime directors use their own money to purchase things for the business and this gets posted to the DL ac...	Elaine R	9	1522	Mon Jan 4 11:36 2016 by Leger
	decrease in assets in relation to sales (Preview) hi People say that when you sell on credit your entries are: Receivables Dt Sales Cr when money is received: Bank Dt Receivables Cr Let's say I produce chairs and sell them. My chairs are my assets. When I sell them my assets decrease. Why in entries above nothing is said about the fact that my assets d...	rafapak	12	5486	Sat Jan 2 22:23 2016 by rafapak
	opening balances on cashbook (Preview) hi guys I know this question asks about basics but sometimes I have troubles to figure out basics on my own therefore I am asking people on forum. Let's say in the previous period there were timing differences . If you want to compare this period cash book with bank statement you need previous period's b...	rafapak	5	1043	Fri Jan 1 22:09 2016 by rafapak
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