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

MaryChristina · MaryChristina

Hi All, One of my clients has given me a pile of cash receipts from the last financial year. I would like to put them through the books however the year end has already been closed off. Can anyone advise the best way to deal with them. Thanks in advance. Regards Mary

sarah493 · sarah493

Hi all, I'm still getting used to Sage ( my knowledge is ok but could be better) so am wondering if some one could point me in the right direction. I have just taken on a new client and have noticed a few things that the previous bookkeeper has done, that I believe to be incorrect. On looking at the supplier a...

NA_AA · NA_AA

Hi My client bought a laptop 5 years ago with accidental cover. This was recorded as a fixed asset and depreciated over the past 4 years and the payment relating to the cover recorded as prepayment and released over the years. Now the question is that in year 5, the laptop broke down and it cannot be fixed...

FoxAccountancyServices · FoxAccountancyServices

Hello hello! The business entity tests were abolished in April 2015 - what does one now do to review whether they might get caught in IR35? I know, I know, I should know the answer to this, but I haven't had to look at it for a while, and hadn't realised BETs were gone!!

Elaine R · Elaine R

Hi, Does anyone have clients who sell purely through Amazon or at least mostly? I have a new client and every quarter he wants Management Accounts producing. To enable me to do this I need to calculate closing stock. I have only had 1 client before who sold solely through Amazon and he provided me wit...

Samilou67 · Samilou67

What do you code the payment to HMRC for your money laundering registration? Professional fees? Thanks Sam

Pickle · Pickle

A builder has just bought a mechanical concrete breaking up tool for £340. In Sage would this be posted to nominal code 0020 Plant & Machinery or 7800 Repairs & Renewals please? Its not a tool he's replacing. Many thanks in advance

joe52 · joe52

Hi, I am a complete beginner doing end of first year accounts, sometimes my very small company buys things, then takes those apart and sell them separately. In these cases I have the purchase cost for one item, but then how do I calculate the cost of one of its parts? For example I buy item X for the cost o...

Julie1606 · Julie1606

Hi i bookeep for a friend who initially had a property rental business, however he has now also started to buy property for renovation and sale. If he sells on average three properties per tax year he will make a profit of around £90k, however he reinvests the profit each time as the deposit for the next p...

FoxAccountancyServices · FoxAccountancyServices

Hi lovelies! Am I going mad... I am considering taking on a CIC. I understand the accounts are the same as a normal limited companies, with the addition of a CIC report, and that the CIC is subject to an Asset Lock and Dividend Cap - this is a super small CIC, so I am thinking it should be a nice little job. I h...

tonys · tonys

Hi We are a VAT registered business who want to sell tickets on behalf of non VAT registered business. (A one off event) We would be paid a commission on each sale, I know that would be VATable but can we sell the tickets at the same price as the non VAT business as we aren't buying the tickets as such, just ta...

Eilef · Eilef

I'm not going down the whole how much should I charge route as I have been busy looking at memu pricing plans. I am going to ask however, what's the best way to find out what others are charging in my area? If I phone them up and tell them I'm a new bookkeeper they wouldn't tell me well I don't think they would,...

kirsttthow · kirsttthow

Ok so I am a newly registered Soletrader (not VAT registered) and I recently set up my business bank account. However the card never came through in time and I had to make some stock purchases using my personal account. I do not use an accounting software and was hoping to just keep a simple weekly spread...

FoxAccountancyServices · FoxAccountancyServices

Hi Lovelies!! I think I am going mad... may I run this by you? I do bookkeeping for a guy and his father in law does the accounts.. he is an accountant in a chartered firm So every year he makes adjustments, and doesnt tell me what they are. So I have been looking at the accounts to work it out. P&L note s...

Fiona46 · Fiona46

Hello Please can someone confirm that you only need to report a benefit in kind at the end of the tax year on form P11D? Someone I work for has a company vehicle and is at the moment not taxed in the benefit, can I let the IR know now so that that the tax starts to be deducted sooner rather than later? I am thin...

Miss Jay · Miss Jay

Hi all, just a bit worried on how to keep records straight when the owner of this business asks that all cash sales invoices are not to be recorded on our books. All cash that comes in from cash sales is either handed to the owner or banked into their personal account. Only records for invoices paid via ch...

Blonde Accountant · Blonde Accountant

Hello, a client of mine is looking into paying about £32k for a hybrid which qualifies for a grant of £5000. It would also qualify for 100% WDA, so therefore corporation tax would be reduced greatly. My question is, when working out the capital allowances, will it be the puchase cost of the vehicle or th...

Denise15 · Denise15

Hiya I was hoping that you would be able to help - I am using Sage 50 to do the book-keeping for a company which runs a bar, shop and kitchen. Recently they have Franchised the kitchen out. However the sales still go through the bar till and we make up monthly sheets with the totals on for catering to pay back...

kimrs007 · kimrs007

Morning Guys, I was hoping someone could help me out with a question. Our company makes a lot of purchases through Quidco (all business related purchases) and the company therefore earns cash back from these purchases. Currently the compnay directors just keep this cash back i.e. it is paid into t...

Jay3 · Jay3

Hi, Recently I have been sent a list of codes and been asked which balances I want to roll forward and which ones I do not. Some are BS codes and others are P&L codes. The norm for the BS codes is that they will be rolled forward unless otherwise instructed....this makes sense to me as the BS is a stateme...

Topic		Started By	Replies	Views	Last Post
	Old Cash Receipts (Preview) Hi All, One of my clients has given me a pile of cash receipts from the last financial year. I would like to put them through the books however the year end has already been closed off. Can anyone advise the best way to deal with them. Thanks in advance. Regards Mary	MaryChristina	5	1314	Mon Oct 26 20:49 2015 by FoxAccountancyServices
	Help with Sage. (Preview) Hi all, I'm still getting used to Sage ( my knowledge is ok but could be better) so am wondering if some one could point me in the right direction. I have just taken on a new client and have noticed a few things that the previous bookkeeper has done, that I believe to be incorrect. On looking at the supplier a...	sarah493	5	4583	Mon Oct 26 19:19 2015 by FoxAccountancyServices
	How do you account for laptop (Preview) Hi My client bought a laptop 5 years ago with accidental cover. This was recorded as a fixed asset and depreciated over the past 4 years and the payment relating to the cover recorded as prepayment and released over the years. Now the question is that in year 5, the laptop broke down and it cannot be fixed...	NA_AA	7	4551	Fri Oct 23 14:34 2015 by NA_AA
	IR35 (Preview) Hello hello! The business entity tests were abolished in April 2015 - what does one now do to review whether they might get caught in IR35? I know, I know, I should know the answer to this, but I haven't had to look at it for a while, and hadn't realised BETs were gone!!	FoxAccountancyServices	9	1423	Thu Oct 22 07:57 2015 by Georgie
	Closing stock calculation when selling through Amazon (Preview) Hi, Does anyone have clients who sell purely through Amazon or at least mostly? I have a new client and every quarter he wants Management Accounts producing. To enable me to do this I need to calculate closing stock. I have only had 1 client before who sold solely through Amazon and he provided me wit...	Elaine R	9	1255	Wed Oct 21 17:22 2015 by Cheshire
	Money Laundering costs (Preview) What do you code the payment to HMRC for your money laundering registration? Professional fees? Thanks Sam	Samilou67	1	4497	Wed Oct 21 17:17 2015 by Cheshire
	Sage nominal code for tool (Preview) A builder has just bought a mechanical concrete breaking up tool for £340. In Sage would this be posted to nominal code 0020 Plant & Machinery or 7800 Repairs & Renewals please? Its not a tool he's replacing. Many thanks in advance	Pickle	5	14169	Mon Oct 19 16:29 2015 by Pickle
	closing stock valuation - value for a part of an item (Preview) Hi, I am a complete beginner doing end of first year accounts, sometimes my very small company buys things, then takes those apart and sell them separately. In these cases I have the purchase cost for one item, but then how do I calculate the cost of one of its parts? For example I buy item X for the cost o...	joe52	3	975	Mon Oct 19 13:04 2015 by FoxAccountancyServices
	Reinvesting of profits (Preview) Hi i bookeep for a friend who initially had a property rental business, however he has now also started to buy property for renovation and sale. If he sells on average three properties per tax year he will make a profit of around £90k, however he reinvests the profit each time as the deposit for the next p...	Julie1606	1	5286	Mon Oct 19 12:50 2015 by FoxAccountancyServices
	Confused.com (Preview) Hi lovelies! Am I going mad... I am considering taking on a CIC. I understand the accounts are the same as a normal limited companies, with the addition of a CIC report, and that the CIC is subject to an Asset Lock and Dividend Cap - this is a super small CIC, so I am thinking it should be a nice little job. I h...	FoxAccountancyServices	0	778	Sun Oct 18 14:10 2015 by FoxAccountancyServices
	Ticket sales (Preview) Hi We are a VAT registered business who want to sell tickets on behalf of non VAT registered business. (A one off event) We would be paid a commission on each sale, I know that would be VATable but can we sell the tickets at the same price as the non VAT business as we aren't buying the tickets as such, just ta...	tonys	4	796	Sun Oct 18 10:15 2015 by Cheshire
	Pricing again.... (Preview) I'm not going down the whole how much should I charge route as I have been busy looking at memu pricing plans. I am going to ask however, what's the best way to find out what others are charging in my area? If I phone them up and tell them I'm a new bookkeeper they wouldn't tell me well I don't think they would,...	Eilef	16	1328	Sun Oct 18 09:23 2015 by Cheshire
	Business expenses via personal funds help! (Preview) Ok so I am a newly registered Soletrader (not VAT registered) and I recently set up my business bank account. However the card never came through in time and I had to make some stock purchases using my personal account. I do not use an accounting software and was hoping to just keep a simple weekly spread...	kirsttthow	17	5312	Fri Oct 16 14:50 2015 by Cheshire
	Profit and loss account (Preview) Hi Lovelies!! I think I am going mad... may I run this by you? I do bookkeeping for a guy and his father in law does the accounts.. he is an accountant in a chartered firm So every year he makes adjustments, and doesnt tell me what they are. So I have been looking at the accounts to work it out. P&L note s...	FoxAccountancyServices	4	2300	Fri Oct 16 14:12 2015 by FoxAccountancyServices
	Reporting benefits in kind (Preview) Hello Please can someone confirm that you only need to report a benefit in kind at the end of the tax year on form P11D? Someone I work for has a company vehicle and is at the moment not taxed in the benefit, can I let the IR know now so that that the tax starts to be deducted sooner rather than later? I am thin...	Fiona46	3	999	Thu Oct 15 13:33 2015 by FoxAccountancyServices
	No Records of Cash Sales (Preview) Hi all, just a bit worried on how to keep records straight when the owner of this business asks that all cash sales invoices are not to be recorded on our books. All cash that comes in from cash sales is either handed to the owner or banked into their personal account. Only records for invoices paid via ch...	Miss Jay	4	5643	Wed Oct 14 20:37 2015 by FoxAccountancyServices
	Ultra Low Vehicle Emission grant (Preview) Hello, a client of mine is looking into paying about £32k for a hybrid which qualifies for a grant of £5000. It would also qualify for 100% WDA, so therefore corporation tax would be reduced greatly. My question is, when working out the capital allowances, will it be the puchase cost of the vehicle or th...	Blonde Accountant	7	968	Tue Oct 13 18:29 2015 by FoxAccountancyServices
	Franchised (Preview) Hiya I was hoping that you would be able to help - I am using Sage 50 to do the book-keeping for a company which runs a bar, shop and kitchen. Recently they have Franchised the kitchen out. However the sales still go through the bar till and we make up monthly sheets with the totals on for catering to pay back...	Denise15	3	1156	Tue Oct 13 09:27 2015 by Shamus
	Directors keeping cash back earned by company (Preview) Morning Guys, I was hoping someone could help me out with a question. Our company makes a lot of purchases through Quidco (all business related purchases) and the company therefore earns cash back from these purchases. Currently the compnay directors just keep this cash back i.e. it is paid into t...	kimrs007	11	5364	Mon Oct 12 17:00 2015 by FoxAccountancyServices
	Rolling Forward P&L Balances (Preview) Hi, Recently I have been sent a list of codes and been asked which balances I want to roll forward and which ones I do not. Some are BS codes and others are P&L codes. The norm for the BS codes is that they will be rolled forward unless otherwise instructed....this makes sense to me as the BS is a stateme...	Jay3	2	1043	Mon Oct 12 12:30 2015 by Jay3
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