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

MarkS · MarkS

Is anyone going to Accountex at London Xcel on Wednesday and Thursday this week? I am flying down to Stansted tomorrow night to go to Accountex over Wednesday and Thursday then back up on Thursday night.

Chris1974 · Chris1974

Hi I have a client who runs a limited company from home with his wife. They switched from a sole trader to a Limited Co. in January and he has asked whether he can charge the limited company rent and I have confirmed that they can do so but I am not sure how much. Their accountant has suggested £4 per week whic...

shada · shada

Hi all, Wonder if anyone can help??, I have recently taken on a client who is a self employed lorry driver. He subcontracts to shall we say - Mr A. Mr A provides drivers for a company based near the docks who import vehicles that are then are driven around the country to whoever has purchased them. My clie...

Eilef · Eilef

ok not sure if this is even possible so here goes. As part of one of businesses I run events which I sell tickets for, now I have sold done tickets but the event isn't until June. All associated expenses and costs have been set up to hit the P&L in June. So should I do the same for the sales? create them a...

Flames89 · Flames89

On an end of year statement, what is the correct term to describe the value of an old invoice please? The invoices have just been received and they are not in dispute. Thank you in advance.

yellowsenska · yellowsenska

Hi there, We've received in advance money to create a software.That take about a year to create.My question is how do we record the invoice, money received and release part of the money on monthly basis in SAGE 50 ? Thank you for looking at this

atterol · atterol

Hi.The last financial year the director could not find some of the business card statements. The accountants appear to have made a journal credit of £801 to account for this. 1. Now I have copies of the business card statements and would like to reconcile the credit card account. As it no longer the sa...

gigi12 · gigi12

Hi everyone, I would like to ask you if i need to pay income tax when my father will transfer 50.000 euros as a gift from his bank in Italy to my Uk bank account. Or if there is any other tax I need to pay. Many thanks.

LJ · LJ

Hi Everyone This is going to be one very long post so apologies in advance and I hope I explain it clearly. If anyone can help with ANY aspect of it, then please please PLEASE do so as I'm about to jack everything in over this one client. I took over the VAT bookkeeping side of things for a sole trader retail c...

Leger · Leger

Given the rise in tablets and the like what are thoughts of where to stick them in the accounts? Office equipment seems the most favourable but I'm not 100% convinced. Reason for asking is I've just processed an invoice for Galaxy Tab 4 which the client has got from a phone company, contributing £50 + VA...

Brownem · Brownem

Hello, I am new to all of this and just completing the accounts for a new client who claims 45p/mile, no other costs towards the upkeep of his vehicle. Can I just clarify that the correct accounting procedure would be dr motor expense and cr drawings (he is a sole trade)? Also, would the same principle a...

darlby · darlby

I'm probably being really dumb with this question but, I have an invoice for £113.50 which was paid for in cash with £120.00 change of £6.50 was given from our petty cash and the £120 was banked. With regards to book keeping how do I allocate the £6.50 a) in the petty cash and b) once I allocate the payment...

Freddie · Freddie

I understand the concept of a business paying for both carriage INWARDS and carriage OUTWARDS, but why is the INWARDS cost posted to the Trading Account and the OUTWARDS cost posted to the Profit & Loss Account? Are these both not classed as a business expense, therefore should be posted as such i...

Eilef · Eilef

I have Accurred fees which are to hit one months P&L but don't get taken until the following month. I have come to enter the actua bill and my accurals are blank? This transaction has spilt across the change if financial year but surely that wouldn't matter my prepayments have carried forward.

Iggy Poop · Iggy Poop

Hello all. Forgive my complete ignorance, but I have a few questions if anyone can spare a few moments to help? I have recently started a side business, online retailing via eBay, Amazon, and very soon, my own website. I am also in full time employment, just scraping the 40% tax bracket. Decided to g...

Cheshire · Cheshire

Hi all I have a sage 'error' warning - 'transaction has an unallocated amount'. Customer is on VAT cash accounting. Keyed customer receipt to Bank for £848 (which shows as the correct amount of £848 on the Bank, awaiting reconciliation) but if you go to the maintenance/corrections section it only...

pinkdon · pinkdon

Hi, I'm really hoping someone can offer a simple solution to correct an error, my mind is going round in circles. Basically we received a cheque from a supplier which was banked along with the cash takings and has been entered into sage as cash takings, transferred from petty cash into the bank and rec...

Beste · Beste

Hi, When doing tax return (manually in excel, not software) for a client, is it assumed that I'd prepare TB for them? This is a sole trader who has set up a bank account under her own name but uses it for business. She has given me receipts and all sales info and then the bank account statements. I cant make h...

MaryChristina · MaryChristina

Hi all, Hoping someone can hep with what is probably a basic question but I don't want to muck it up so thought I'd get some advice. I've been given a set of opening balances for a client who has just moved from Quickbooks to Xero. While I have no problem with the technical aspects of the software and I've...

Samilou67 · Samilou67

Hi can anyone help with this? I have a client who has a construction company and the work is spread throughout the south of England which means the contractors stay away from home 3-4 days of the week. What is the ruling regarding meals/allowances for this? At the moment he pays the hotel and it seems to b...

Topic		Started By	Replies	Views	Last Post
	Accountex - Anyone going? (Preview) Is anyone going to Accountex at London Xcel on Wednesday and Thursday this week? I am flying down to Stansted tomorrow night to go to Accountex over Wednesday and Thursday then back up on Thursday night.	MarkS	14	2206	Fri May 15 10:13 2015 by VinceH
	Renting home office to Limited Company (Preview) Hi I have a client who runs a limited company from home with his wife. They switched from a sole trader to a Limited Co. in January and he has asked whether he can charge the limited company rent and I have confirmed that they can do so but I am not sure how much. Their accountant has suggested £4 per week whic...	Chris1974	7	4296	Wed May 13 15:43 2015 by Leger
	Mileage Claim - for a client who doesn't like the answer you give him (Preview) Hi all, Wonder if anyone can help??, I have recently taken on a client who is a self employed lorry driver. He subcontracts to shall we say - Mr A. Mr A provides drivers for a company based near the docks who import vehicles that are then are driven around the country to whoever has purchased them. My clie...	shada	0	1071	Tue May 12 16:05 2015 by shada
	Accurred or prepaid Sales (VT-STM) (Preview) ok not sure if this is even possible so here goes. As part of one of businesses I run events which I sell tickets for, now I have sold done tickets but the event isn't until June. All associated expenses and costs have been set up to hit the P&L in June. So should I do the same for the sales? create them a...	Eilef	4	8659	Tue May 12 00:26 2015 by Shamus
	End of Financial Year done - Presented with previous year Invoices (Preview) On an end of year statement, what is the correct term to describe the value of an old invoice please? The invoices have just been received and they are not in dispute. Thank you in advance.	Flames89	0	5211	Mon May 11 14:26 2015 by Flames89
	Unearned revenue (Preview) Hi there, We've received in advance money to create a software.That take about a year to create.My question is how do we record the invoice, money received and release part of the money on monthly basis in SAGE 50 ? Thank you for looking at this	yellowsenska	3	5138	Mon May 11 12:24 2015 by yellowsenska
	reconciling business card statement after year end due to missing information etc (Preview) Hi.The last financial year the director could not find some of the business card statements. The accountants appear to have made a journal credit of £801 to account for this. 1. Now I have copies of the business card statements and would like to reconcile the credit card account. As it no longer the sa...	atterol	1	5051	Sun May 10 15:59 2015 by atterol
	Income tax on money received from parents from abroad income tax money gift abroad parents (Preview) Hi everyone, I would like to ask you if i need to pay income tax when my father will transfer 50.000 euros as a gift from his bank in Italy to my Uk bank account. Or if there is any other tax I need to pay. Many thanks.	gigi12	2	7525	Sat May 9 10:57 2015 by RobH
	HELP! Incorrect opening balances + Cash to Accrual VAT + Posting amendments = One hell of a muddle! (Preview) Hi Everyone This is going to be one very long post so apologies in advance and I hope I explain it clearly. If anyone can help with ANY aspect of it, then please please PLEASE do so as I'm about to jack everything in over this one client. I took over the VAT bookkeeping side of things for a sole trader retail c...	LJ	1	5684	Fri May 8 18:41 2015 by Peaman
	Tablets & Gadgets (Preview) Given the rise in tablets and the like what are thoughts of where to stick them in the accounts? Office equipment seems the most favourable but I'm not 100% convinced. Reason for asking is I've just processed an invoice for Galaxy Tab 4 which the client has got from a phone company, contributing £50 + VA...	Leger	1	1292	Fri May 8 16:47 2015 by Meadowlands
	A little reassurance if I may............... (Preview) Hello, I am new to all of this and just completing the accounts for a new client who claims 45p/mile, no other costs towards the upkeep of his vehicle. Can I just clarify that the correct accounting procedure would be dr motor expense and cr drawings (he is a sole trade)? Also, would the same principle a...	Brownem	4	1090	Fri May 8 14:08 2015 by Brownem
	invocie paid in cash and change given from petty cash (Preview) I'm probably being really dumb with this question but, I have an invoice for £113.50 which was paid for in cash with £120.00 change of £6.50 was given from our petty cash and the £120 was banked. With regards to book keeping how do I allocate the £6.50 a) in the petty cash and b) once I allocate the payment...	darlby	12	4537	Tue May 5 18:37 2015 by VinceH
	Carriage costs. (Preview) I understand the concept of a business paying for both carriage INWARDS and carriage OUTWARDS, but why is the INWARDS cost posted to the Trading Account and the OUTWARDS cost posted to the Profit & Loss Account? Are these both not classed as a business expense, therefore should be posted as such i...	Freddie	8	6140	Mon May 4 21:30 2015 by Eilef
	Should my Accurrals carry over? (Preview) I have Accurred fees which are to hit one months P&L but don't get taken until the following month. I have come to enter the actua bill and my accurals are blank? This transaction has spilt across the change if financial year but surely that wouldn't matter my prepayments have carried forward.	Eilef	6	5536	Fri May 1 17:19 2015 by ClareB4
	General questions about cash basis accounts (Preview) Hello all. Forgive my complete ignorance, but I have a few questions if anyone can spare a few moments to help? I have recently started a side business, online retailing via eBay, Amazon, and very soon, my own website. I am also in full time employment, just scraping the 40% tax bracket. Decided to g...	Iggy Poop	3	1332	Thu Apr 30 00:59 2015 by MarkS
	Help re Sage 'error' warning (Preview) Hi all I have a sage 'error' warning - 'transaction has an unallocated amount'. Customer is on VAT cash accounting. Keyed customer receipt to Bank for £848 (which shows as the correct amount of £848 on the Bank, awaiting reconciliation) but if you go to the maintenance/corrections section it only...	Cheshire	10	2428	Wed Apr 29 18:36 2015 by VinceH
	Supplier refund banked as cash (Sage) (Preview) Hi, I'm really hoping someone can offer a simple solution to correct an error, my mind is going round in circles. Basically we received a cheque from a supplier which was banked along with the cash takings and has been entered into sage as cash takings, transferred from petty cash into the bank and rec...	pinkdon	2	1052	Wed Apr 29 13:40 2015 by pinkdon
	Tax Return for a client - TB essential? (Preview) Hi, When doing tax return (manually in excel, not software) for a client, is it assumed that I'd prepare TB for them? This is a sole trader who has set up a bank account under her own name but uses it for business. She has given me receipts and all sales info and then the bank account statements. I cant make h...	Beste	6	1096	Wed Apr 29 13:10 2015 by Cheshire
	Opening Balances (Preview) Hi all, Hoping someone can hep with what is probably a basic question but I don't want to muck it up so thought I'd get some advice. I've been given a set of opening balances for a client who has just moved from Quickbooks to Xero. While I have no problem with the technical aspects of the software and I've...	MaryChristina	4	988	Wed Apr 29 12:49 2015 by ClareB4
	Working away from home allowances (Preview) Hi can anyone help with this? I have a client who has a construction company and the work is spread throughout the south of England which means the contractors stay away from home 3-4 days of the week. What is the ruling regarding meals/allowances for this? At the moment he pays the hotel and it seems to b...	Samilou67	4	1374	Wed Apr 29 12:14 2015 by pictures
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