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

Tammy · Tammy

Hi all, Are Companies House penalties (and perhaps HMRC) treated as business expenses for tax purposes? Getting confused here. Thank you

jaybag · jaybag

Good evening all I have a client who is a caterer. They have just purchased a BBQ that they will hire out at events. which nominal code would you think I put the purchase under, I was thinking of asset, however, they have purchased to "re-sell " to a degree.....bit confusing, so any help would...

Rhianrach · Rhianrach

As the title suggests, is it ok for a sole trader to buy a warehouse privately and then charge the business rent.

KimB · KimB

I have been using Sage Instant at a clients office for 3 years. When Icame to do this quarters vat return a message is coming up " No transactions available. All the transactions are showing on the audit trail, have the correct vat codes and the correct dates. I have also tried it ticking the recon...

Sharon Eyre · Sharon Eyre

It is so nice to be appreciated by others- I have happily helped any newcomers and sent copies of my forms, helped with queries they may have, they have emailed me questions and I have been happy to help with the answers but today I received in the post a box of chocolates and a thank you card from one such pe...

Silly Digits · Silly Digits

Hi A client has sold a buy to let property. After taking off the purchase price and allowable costs they have made a loss. Am I right in saying that this loss can be carried forward to the next year and then if they sell another property in that tax year they can offset this loss. If so I presume that I ent...

Samilou67 · Samilou67

I'm a bit confused and could really do with some help as there seems to be contradiciting info on this. If a company sells goods on Ebay and they specify a postage amount of say £1.30 is that £1.30 classed and accounted for as part of the sale or should it be separated to postage/carriage? According to HMR...

darcyfi · darcyfi

Hello, Hope all is well. Just a quickie about a new ltd company. Two business' ran out of the office where I work, with two sage packages for each (different pcs). One of the company's closed down but now my boss has started a new ltd company and we would like to start using the abandoned sage package. Ho...

Kitty37 · Kitty37

Hi - I have a rental property funded with a repayment mortgage. As with all repayment mortgages there is a higher element of interest in the initial years which declines throughout the life of the mortgage. I am intending to offset the actual interest paid each year as an allowable expense as shown on t...

Sammy76 · Sammy76

I can't seem to get my head around the QB payroll journals and where to put stuff. Its so easy in Sage, and basic payroll is easy on QB but I have to enter SSP and SMP which I'm finding confusing beyond belief and can't get things to balance. I have the following accounts set up in COA. Gross Wages Expense...

clare92 · clare92

Hi there, I am doing some self study (preparing for ACCA!) and I have come across entering CIS on Sage. My practice data is on standard VAT. The more I've thought of it the more I've given myself brain overload I think! The CIS voucher I have is payable to my 'practice data'. So my dummy company is the su...

mfisherontour · mfisherontour

Apologies if this has already been a topic! I am self employed and run two small businesses, one doing bookkeeping during the week and one doing audio/sound engineering and the odd bit of audio equipment hire at the weekends. I started the audio business in december 2012 and had a small set of accounts...

danielle159 · danielle159

Hi everyone, I am trying to reconcile the statement against the bank on sage, I have a few receipts to enter what is the best way to do this just as a bank payment or do I use the receipt as an invoice and then match the payment through supplier payments so it doesn't put the payment on account? Thanks in adv...

Count1314 · Count1314

Is there a preferred way to handle setting off supplier balances against the same entities customer account....or vice versa?? I have always shown the full payment and receipt in the bank account which means that the net payment is correct not obviously not exactly as it appears on the bank statemen...

blueeyes · blueeyes

A lady had a craft hobby which she has recently turned into a business. She has introduced stock into the business (approx £1k of craft materials and glass). As it was previously a hobby she never kept receipts. Other than trying to get copies of receipts what else can be done? Thanks in advance

Elaine R · Elaine R

Hi, I have a client who has Shopify charges on his bank statements. Should these be coded to Computer and Internet or Advertising? Elaine

darcyfi · darcyfi

Hello, I am hoping I can get a response to these questions. I am not a qualified in book keeping in anyway but it is part of my job spec, with the vat return looming, I am starting to panic a bit as it will be the first time I will be doing it solo, our lovely most helpful book keeper has retired so I am left to...

Rochie · Rochie

I have been told to make these journal entries but have no idea what they mean. Dr 7701. 112.00 dr 7100. 2800.00 dr 7803. 45.30 cr. 7103. 172.50 cr 8204. 40.55 cr 1103 (prepay ac). 2744.25 I was told on good authority here that you post invoices to prepayment 110...

lisa marie · lisa marie

Hi Everyone, I have a client that is a sub contractor and he wants to purchase a new van, he will either do this by bank loan or a HP agreement, can he claim the normal capital allowance for this asset or only claim for the monthly payments as a business expense. Lisa

Sophie Ryan · Sophie Ryan

Hello I've recently passed my level 2 exam in manual book-keeping and computerised book-keeping whilst on maternity leave. My husband's company is in it's 3rd year of trading - for Sage, do you have to set the company up from the date in which it was created therefore having the company's history avai...

Topic		Started By	Replies	Views	Last Post
	Penalties (Preview) Hi all, Are Companies House penalties (and perhaps HMRC) treated as business expenses for tax purposes? Getting confused here. Thank you	Tammy	1	881	Sun Jul 20 16:49 2014 by Wella
	Hire of goods (Preview) Good evening all I have a client who is a caterer. They have just purchased a BBQ that they will hire out at events. which nominal code would you think I put the purchase under, I was thinking of asset, however, they have purchased to "re-sell " to a degree.....bit confusing, so any help would...	jaybag	2	850	Fri Jul 18 18:31 2014 by jaybag
	Sole trader renting private property to themself. (Preview) As the title suggests, is it ok for a sole trader to buy a warehouse privately and then charge the business rent.	Rhianrach	3	1209	Thu Jul 17 13:02 2014 by Rhianrach
	VAT problems in Sage instant (Preview) I have been using Sage Instant at a clients office for 3 years. When Icame to do this quarters vat return a message is coming up " No transactions available. All the transactions are showing on the audit trail, have the correct vat codes and the correct dates. I have also tried it ticking the recon...	KimB	0	747	Sun Jul 13 20:08 2014 by KimB
	Appreciation (Preview) It is so nice to be appreciated by others- I have happily helped any newcomers and sent copies of my forms, helped with queries they may have, they have emailed me questions and I have been happy to help with the answers but today I received in the post a box of chocolates and a thank you card from one such pe...	Sharon Eyre	7	1104	Sun Jul 13 19:39 2014 by Sharon Eyre
	Capital Losses (Preview) Hi A client has sold a buy to let property. After taking off the purchase price and allowable costs they have made a loss. Am I right in saying that this loss can be carried forward to the next year and then if they sell another property in that tax year they can offset this loss. If so I presume that I ent...	Silly Digits	0	693	Thu Jul 10 15:09 2014 by Silly Digits
	Postal/carriage charges on Sales (Preview) I'm a bit confused and could really do with some help as there seems to be contradiciting info on this. If a company sells goods on Ebay and they specify a postage amount of say £1.30 is that £1.30 classed and accounted for as part of the sale or should it be separated to postage/carriage? According to HMR...	Samilou67	6	1076	Wed Jul 9 10:30 2014 by Samilou67
	New ltd company using old sage accounts package - what to do? (Preview) Hello, Hope all is well. Just a quickie about a new ltd company. Two business' ran out of the office where I work, with two sage packages for each (different pcs). One of the company's closed down but now my boss has started a new ltd company and we would like to start using the abandoned sage package. Ho...	darcyfi	2	698	Wed Jul 9 10:22 2014 by darcyfi
	Expenses - allowable interest to offset against rental income (Preview) Hi - I have a rental property funded with a repayment mortgage. As with all repayment mortgages there is a higher element of interest in the initial years which declines throughout the life of the mortgage. I am intending to offset the actual interest paid each year as an allowable expense as shown on t...	Kitty37	2	753	Tue Jul 8 20:55 2014 by Kitty37
	Quickbooks Question - Payroll Journall SSP (Preview) I can't seem to get my head around the QB payroll journals and where to put stuff. Its so easy in Sage, and basic payroll is easy on QB but I have to enter SSP and SMP which I'm finding confusing beyond belief and can't get things to balance. I have the following accounts set up in COA. Gross Wages Expense...	Sammy76	3	2331	Tue Jul 8 13:23 2014 by Sammy76
	Sage & CIS..... Help please (Preview) Hi there, I am doing some self study (preparing for ACCA!) and I have come across entering CIS on Sage. My practice data is on standard VAT. The more I've thought of it the more I've given myself brain overload I think! The CIS voucher I have is payable to my 'practice data'. So my dummy company is the su...	clare92	2	776	Tue Jul 8 10:55 2014 by Nimac
	Two small businesses, one bank account? (Preview) Apologies if this has already been a topic! I am self employed and run two small businesses, one doing bookkeeping during the week and one doing audio/sound engineering and the odd bit of audio equipment hire at the weekends. I started the audio business in december 2012 and had a small set of accounts...	mfisherontour	1	727	Tue Jul 8 01:24 2014 by Don Tax
	Posting Receipts in Sage (Preview) Hi everyone, I am trying to reconcile the statement against the bank on sage, I have a few receipts to enter what is the best way to do this just as a bank payment or do I use the receipt as an invoice and then match the payment through supplier payments so it doesn't put the payment on account? Thanks in adv...	danielle159	1	629	Mon Jul 7 15:01 2014 by EPF_Solutions
	Purchase/Sales Ledger set-off (Preview) Is there a preferred way to handle setting off supplier balances against the same entities customer account....or vice versa?? I have always shown the full payment and receipt in the bank account which means that the net payment is correct not obviously not exactly as it appears on the bank statemen...	Count1314	0	667	Mon Jul 7 08:17 2014 by Count1314
	Hobby to business (Preview) A lady had a craft hobby which she has recently turned into a business. She has introduced stock into the business (approx £1k of craft materials and glass). As it was previously a hobby she never kept receipts. Other than trying to get copies of receipts what else can be done? Thanks in advance	blueeyes	3	933	Sat Jul 5 10:44 2014 by Wella
	Shopify Charges (Preview) Hi, I have a client who has Shopify charges on his bank statements. Should these be coded to Computer and Internet or Advertising? Elaine	Elaine R	1	1032	Fri Jul 4 10:12 2014 by AICB
	Simple question I'm sure but I am new to this - EDF bills on sage accounts (Preview) Hello, I am hoping I can get a response to these questions. I am not a qualified in book keeping in anyway but it is part of my job spec, with the vat return looming, I am starting to panic a bit as it will be the first time I will be doing it solo, our lovely most helpful book keeper has retired so I am left to...	darcyfi	2	672	Thu Jul 3 15:54 2014 by darcyfi
	Prepayment journal (Preview) I have been told to make these journal entries but have no idea what they mean. Dr 7701. 112.00 dr 7100. 2800.00 dr 7803. 45.30 cr. 7103. 172.50 cr 8204. 40.55 cr 1103 (prepay ac). 2744.25 I was told on good authority here that you post invoices to prepayment 110...	Rochie	2	1333	Tue Jul 1 20:28 2014 by Rochie
	Capital allowances (Preview) Hi Everyone, I have a client that is a sub contractor and he wants to purchase a new van, he will either do this by bank loan or a HP agreement, can he claim the normal capital allowance for this asset or only claim for the monthly payments as a business expense. Lisa	lisa marie	2	732	Tue Jul 1 16:47 2014 by lisa marie
	Company set-up in 3rd year of trading (Preview) Hello I've recently passed my level 2 exam in manual book-keeping and computerised book-keeping whilst on maternity leave. My husband's company is in it's 3rd year of trading - for Sage, do you have to set the company up from the date in which it was created therefore having the company's history avai...	Sophie Ryan	2	763	Tue Jul 1 07:24 2014 by Sophie Ryan
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