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

choccly-pops · choccly-pops

Hi Everyone, Me again! Sorry, I am after more advice. I have a client who I met through networking. She is from Russia, and has an interpreting company, which is a LTD company. When I took her on as a client, I stupidly didn't look into her company first, and just took her at her word that she owned 100% of h...

jaybag · jaybag

Good evening all I have recently taken on a new client, it is actually a holiday home complex where the owners have formed a company to manage the maintenance and service charges and any other expense. The owners are charged a service charge twice yearly, put in a pot and that runs the estate.It is run as...

Samilou67 · Samilou67

Which tax code should I use for a VAT rate of 6.5% in Sage?

blueeyes · blueeyes

Hi, A client had a hobby that she has now set as a business. The kiln she introduced was 2 years old and she expects it to last another 2 years. Is the fair amount 50% of the purchase cost? Also how do I account for this please? Thanks in advance

blueeyes · blueeyes

Hi, Is a matured mortgage endowment payout taxable please? The amount was for £2.5k. Thanks in advance

bjlabuk · bjlabuk

Evening everyone,I previously reconciled an unbanked cheque for £25.20, which was dated 27/07/11, thinking that cheques had a time limit of 6 months. I reconciled it on Sage on 30/01/12. It has now been cashed by the bank on 16th May 2012, 10 months after it was dated and I'm not sure how to amend Sage a...

MichaelWGroves · MichaelWGroves

I read this weeks blog with interest; http://www.book-keepers.net/the-bkn-blog/3137703 This is what has happened to me, as I am employed I am, paying sufficient class 1 NICs so do not require class 2 NICs. I can't see any way to respond to blog so thought I would start a new thread for comments. I have...

Samilou67 · Samilou67

This completely confusing me and would appreciate some help. The companies financial year is April to March. The credit card statements run 20th to 20th of each month. I have an opening credit balance of £360 from the accountant which I have entered in Sage. What do I do with the paid transactions of £2...

morgwick · morgwick

Hi all. I've been approached by someone who has set up a payroll umbrella company. He wants me to do the bookkeeping for him. Firstly, how exactly does an umbrella company work in lay mans terms Also, would bookkeeping be the same as any other business? Or are there things that I should watch out for? My u...

Taylor1 · Taylor1

Hi A business was given to someone just because they couldnt be bothered with it anymore and instead wanted to be an employee, now with that business there were vehicles, can someone point in the right direction with journals only there is no purchase for vehicles she simply said I dont want to do it b...

torracj · torracj

Hi everyone - I have a self employed hairdresser who works at a specific salon 5 days per week - he has to travel by train to and from this salon - im presuming this is NOT an allowable expense as it is his regular place of work. If he then goes to a clients home and he has to travel from his home to theirs but this...

lisa marie · lisa marie

Hi Everyone I am a new user of VT transactions and I'm just finishing a set of accounts and need a little help on how to record the dividends, I have entered the dividends on the balance sheet in the equity dividends column and I am just unsure where I put the other entry so it balances. This is probably so s...

rupertlssmith · rupertlssmith

Hi, I queried my company accounts this year as the dividends figure looked too low. I had also purchased a workshop building and had some expenses associated with this, a valuation, mortgage brokers fee, mortgage lenders fee and so on. The accountant has told me this is why the dividend figure was red...

Martina Sepulveda · Martina Sepulveda

Dear All, The company I work, will be undergoing a statutory audit for the first time In January. From what I understand, the auditors are keen to check if the figures are all correct, and they will cross check bank statement, do some sample checks etc.. and advise on accounting practise done in the co...

GemmaMc · GemmaMc

Hi There, I am just starting out with Sage and entering Opening Balances from a clients previous annual accounts. The O/B's = 1) £3000 capital 2) £6144 creditors (made up of £64 to the bank, £700 trade & £5380 other) 3) - £9144 loss I have posted the £700 trade creditors & cleared the suspense...

Samilou67 · Samilou67

Hi If a construction company buys say plasterboards on a job to job basis rather than keeping 100 in stock to be used if and when would you code it in sage as stock or mats purchased? thanks Sam

Phoenix52866 · Phoenix52866

Hi, When recording an invoice received from a supplier for advertising but the advertising would take place the following month e.g. Invoice received 15th October but for advertising taking place for the month of November should I: When I receive the invoice in October: CR Accounts Payable DR Adve...

Samilou67 · Samilou67

Hi I have a company that I need to record opening balances for in Sage. One of the customers prepaid £2000 at year end, how do I record this in Sage as an opening balance? Thanks Sam

hannahLewis · hannahLewis

Hello, OK so I run a self employed business and a limited company. I am completing my Self assessment. The self employed business is straight forward with a turn over of £68,000. Now my problem is this. My limited company was run on a self employed basis from 01/01/2014 until it became limited in march....

TippersR · TippersR

Hi All, Just running through my Business Plan along side my study and I would like some advice - I will no doubt have to visit clients, meetings and run around getting the odd supplies here and there, which is best use my private car (Which would have a vinyl window sticker with web address etc) and w...

Topic		Started By	Replies	Views	Last Post
	getting rid of a customer (Preview) Hi Everyone, Me again! Sorry, I am after more advice. I have a client who I met through networking. She is from Russia, and has an interpreting company, which is a LTD company. When I took her on as a client, I stupidly didn't look into her company first, and just took her at her word that she owned 100% of h...	choccly-pops	8	1785	Mon Dec 1 14:16 2014 by choccly-pops
	Nom codes (Preview) Good evening all I have recently taken on a new client, it is actually a holiday home complex where the owners have formed a company to manage the maintenance and service charges and any other expense. The owners are charged a service charge twice yearly, put in a pot and that runs the estate.It is run as...	jaybag	0	973	Thu Nov 27 18:20 2014 by jaybag
	Flat rate scheme in Sage (Preview) Which tax code should I use for a VAT rate of 6.5% in Sage?	Samilou67	2	713	Tue Nov 25 22:37 2014 by Sharon Eyre
	Accounting for Plant and machinery (introduced to business from hobby) in 1st year of business (Preview) Hi, A client had a hobby that she has now set as a business. The kiln she introduced was 2 years old and she expects it to last another 2 years. Is the fair amount 50% of the purchase cost? Also how do I account for this please? Thanks in advance	blueeyes	2	864	Fri Nov 21 16:01 2014 by blueeyes
	Is a matured mortgage endowment payout taxable? (Preview) Hi, Is a matured mortgage endowment payout taxable please? The amount was for £2.5k. Thanks in advance	blueeyes	2	1107	Fri Nov 21 14:45 2014 by blueeyes
	Unbanked cheque (Preview) Evening everyone,I previously reconciled an unbanked cheque for £25.20, which was dated 27/07/11, thinking that cheques had a time limit of 6 months. I reconciled it on Sage on 30/01/12. It has now been cashed by the bank on 16th May 2012, 10 months after it was dated and I'm not sure how to amend Sage a...	bjlabuk	9	5277	Wed Nov 19 23:18 2014 by Cheshire
	Landlords National Insurance Contributions (Preview) I read this weeks blog with interest; http://www.book-keepers.net/the-bkn-blog/3137703 This is what has happened to me, as I am employed I am, paying sufficient class 1 NICs so do not require class 2 NICs. I can't see any way to respond to blog so thought I would start a new thread for comments. I have...	MichaelWGroves	5	1460	Wed Nov 19 14:24 2014 by MichaelWGroves
	Credit card opening balances (Preview) This completely confusing me and would appreciate some help. The companies financial year is April to March. The credit card statements run 20th to 20th of each month. I have an opening credit balance of £360 from the accountant which I have entered in Sage. What do I do with the paid transactions of £2...	Samilou67	1	717	Wed Nov 19 13:21 2014 by matt123
	Umbrella Companies and Bookkeeping (Preview) Hi all. I've been approached by someone who has set up a payroll umbrella company. He wants me to do the bookkeeping for him. Firstly, how exactly does an umbrella company work in lay mans terms Also, would bookkeeping be the same as any other business? Or are there things that I should watch out for? My u...	morgwick	11	7867	Tue Nov 18 16:03 2014 by Unwize Owl
	Free Business? (Preview) Hi A business was given to someone just because they couldnt be bothered with it anymore and instead wanted to be an employee, now with that business there were vehicles, can someone point in the right direction with journals only there is no purchase for vehicles she simply said I dont want to do it b...	Taylor1	1	886	Tue Nov 18 14:33 2014 by franktouch
	Train travel to and from work - allowable expense? (Preview) Hi everyone - I have a self employed hairdresser who works at a specific salon 5 days per week - he has to travel by train to and from this salon - im presuming this is NOT an allowable expense as it is his regular place of work. If he then goes to a clients home and he has to travel from his home to theirs but this...	torracj	18	1339	Tue Nov 18 14:09 2014 by 111 Bookkeeping and Payroll
	VT Transactions (Preview) Hi Everyone I am a new user of VT transactions and I'm just finishing a set of accounts and need a little help on how to record the dividends, I have entered the dividends on the balance sheet in the equity dividends column and I am just unsure where I put the other entry so it balances. This is probably so s...	lisa marie	2	2134	Tue Nov 18 03:03 2014 by lisa marie
	Dividends Reduced by amount of Expenses associated with Capital purchases, how does that work? (Preview) Hi, I queried my company accounts this year as the dividends figure looked too low. I had also purchased a workshop building and had some expenses associated with this, a valuation, mortgage brokers fee, mortgage lenders fee and so on. The accountant has told me this is why the dividend figure was red...	rupertlssmith	6	1144	Mon Nov 17 21:52 2014 by rupertlssmith
	Statutory Audits (Preview) Dear All, The company I work, will be undergoing a statutory audit for the first time In January. From what I understand, the auditors are keen to check if the figures are all correct, and they will cross check bank statement, do some sample checks etc.. and advise on accounting practise done in the co...	Martina Sepulveda	4	790	Mon Nov 17 20:15 2014 by Martina Sepulveda
	Posting Opening Balances in Sage (Preview) Hi There, I am just starting out with Sage and entering Opening Balances from a clients previous annual accounts. The O/B's = 1) £3000 capital 2) £6144 creditors (made up of £64 to the bank, £700 trade & £5380 other) 3) - £9144 loss I have posted the £700 trade creditors & cleared the suspense...	GemmaMc	1	762	Sat Nov 15 19:28 2014 by matt123
	Stock or materials purchased? (Preview) Hi If a construction company buys say plasterboards on a job to job basis rather than keeping 100 in stock to be used if and when would you code it in sage as stock or mats purchased? thanks Sam	Samilou67	8	1053	Fri Nov 14 14:50 2014 by EPF_Solutions
	Accounts payable and prepayments (Preview) Hi, When recording an invoice received from a supplier for advertising but the advertising would take place the following month e.g. Invoice received 15th October but for advertising taking place for the month of November should I: When I receive the invoice in October: CR Accounts Payable DR Adve...	Phoenix52866	12	2373	Fri Nov 14 11:19 2014 by FoxAccountancyServices
	Prepayments in Sage (Preview) Hi I have a company that I need to record opening balances for in Sage. One of the customers prepaid £2000 at year end, how do I record this in Sage as an opening balance? Thanks Sam	Samilou67	3	777	Thu Nov 13 19:13 2014 by FoxAccountancyServices
	Completing full self assessment form help. (Preview) Hello, OK so I run a self employed business and a limited company. I am completing my Self assessment. The self employed business is straight forward with a turn over of £68,000. Now my problem is this. My limited company was run on a self employed basis from 01/01/2014 until it became limited in march....	hannahLewis	3	843	Thu Nov 13 16:46 2014 by FoxAccountancyServices
	Use of Prviate Car V Company Car (Preview) Hi All, Just running through my Business Plan along side my study and I would like some advice - I will no doubt have to visit clients, meetings and run around getting the odd supplies here and there, which is best use my private car (Which would have a vinyl window sticker with web address etc) and w...	TippersR	3	931	Mon Nov 10 19:02 2014 by Peaman
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