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

JulesB · JulesB

I had a customer who overpaid so I allocated as a payment on account. I found out that the customer no longer exists so I posted an invoice to the suspense account to clear the customer account? Not sure if this was the right thing to do? I think I need to clear the suspense account for year end but am unsu...

Pwebster · Pwebster

Hi can anyone tell me the journal entries for purchasing a new vehicle: Cost of Vehicle 16500.00 Vat 3300.00 Road Tax 225.00 Finance Interest 1062.00 ______________ Sale of vehicle to garage 4000.00 Vat 800.00 HP lease 12500.00 Cheque payment 3787.00 Many thanks

books2013 · books2013

Hi everyone, I would like some help with directors loan accounts please. I understand that all items paid for by the director needs to go through the DLA, so in practise would this be as follows; Cr DLA van hire £100 Dr Expenses £100 Cr DLA UOH £208 Dr Expenses £208 Dr DLA Directors personal credit card £...

lizg78 · lizg78

Good evening! I posted recently about my husband setting up a ltd company as he is currently working as an IT contractor and paying ridiculous fees to an umbrella company to do his payroll. I'm just a little concerned about IR35 issues. For example, he's starting a new 3 month contract next week an...

Angie63 · Angie63

Hi all Was looking for some input as to how you all run your money laundering proceedure as i seem to be getting told and reading (not here) 101 different ways Am really interested to hear how often others record their checks etc and how far everyone goes in the process re identifying - some seem to view...

Samilou67 · Samilou67

Hi Still trying to think of a trading name and I have one I really like. There is a Limited company with the same name and Limited companies with variations of it but I am a sole trader and will not become a Ltd company anytime soon and if I do then I will have to revisit it. I have done internet searches in Wale...

Sallyann · Sallyann

Can anyone help please? I need to calculate our organisations Net Current Assets, how do I do this?

JOKERRBOOKS · JOKERRBOOKS

Hi, If you raise a sales invoice but need to charge the client for expenses incurred, and you are vat registered, do you charge vat for the expenses line? And if so, is it the gross amount that you add vat on? Hope this makes sense? thanks in advance!

dgts2011 · dgts2011

Hi All, I do the book keeping for my Fathers business and we have had an accountant to do the year end calc's for HMRC this year etc I have been going though all of the info he has sent over, done all the adjustment journals etc but the trial balance they have sent has a different total figure than the one I h...

Jonular · Jonular

I've come to my year end and I have a number of invoices that were raised, deposits taken on account and which are not going to be paid until the job has been done (into the new financial year). The purchases that relate to this have not actually occurred yet although the goods are on order (using sage inst...

Epanine · Epanine

Hi all,I have been struggling with posting some credit transactions on one of my company credit card. To give you more of a contest, I have set up a PL account for each credit card holder and I have made payments from the 1240 after transferring some money over from the main bank account 1200. This ideall...

rachael-pink · rachael-pink

Hi I just wondered if there was a friendly bookkeeper near Cirencester Swindon who might be able to spend a couple of hours with me and an account to help me a bit and look over what I have done and basically offer me some guidance? Cheers Rachael

viperbyte · viperbyte

Hello everyone, I'm a student of accounting and am about three weeks from finishing my first accounting class. In class we do manual double entry accounting excercises with pencil and paper. These excercises are done in a workbook and the problems are in the textbook. The textbook has a section f...

emmjea · emmjea

Dear Members, If I have discovered an incorrect entry from Jan 2014, now (30th March 2014), when it comes to creating a correction journal I have been informed that it is very important that adjustments to the accounts and corrections are done in the correct period. but my colleague is concerned...

Rhianrach · Rhianrach

The business owners have their pension contributions paid direct from the business. Am I right in thinking this is an allowable expense? They have also just drawn £20000 direct to their pension fund claiming they are owed it from introducing capital some time back. Would this be drawings still, the...

lor · lor

I thought I would share my good news,,,,I have reduced my hours at work to have more time to focus on my own business at 1st Stop Accountancy Services Bristol Ltd,,,,,,I am very happy now to have more time to run my practice. All that have read my previous posts know this is something I have wanted to do for...

EOD1991 · EOD1991

Hi everyone, I was wondering what you thought would be the best use of time for a dedicated personal tax department now that the January 31st deadline has come and gone? Any suggestions in particular for things we could do now to prepare for the 2015 busy period would be greatly appreciated. :)

Elaine R · Elaine R

Does anyone know anything at all about the above and the VAT implications if operating on a Cash Accounting basis. If an invoice is settled by a Convertible Security Note Deed is VAT payable or not. Client is telling me not but I am not convinced. Need to understand how these work as don't want to get in t...

Vix606 · Vix606

Hi all, I have a new client who recently set up his own business and I am having some issues appertaining to invoices. 1. Out of the invoices he has given me about 20 of them have not been paid out of either of his bank accounts or his credit card, with the exception of one or two they have all been paid with eit...

kselm · kselm

Hi there - im wondering if someone can help me - I run a small business and do my own books as I have a PDA but had heard from a friend that small businesses are entitled to a lump sum for National Insurance??? They received £2000 via their accountant mentioning this to them but they didn't know specific det...

Topic		Started By	Replies	Views	Last Post
	Clearing the suspense account at year end (Preview) I had a customer who overpaid so I allocated as a payment on account. I found out that the customer no longer exists so I posted an invoice to the suspense account to clear the customer account? Not sure if this was the right thing to do? I think I need to clear the suspense account for year end but am unsu...	JulesB	2	1125	Wed Apr 9 20:58 2014 by JulesB
	Journal Entries (Preview) Hi can anyone tell me the journal entries for purchasing a new vehicle: Cost of Vehicle 16500.00 Vat 3300.00 Road Tax 225.00 Finance Interest 1062.00 ______________ Sale of vehicle to garage 4000.00 Vat 800.00 HP lease 12500.00 Cheque payment 3787.00 Many thanks	Pwebster	4	843	Wed Apr 9 09:04 2014 by Pwebster
	Preparing the directors loan account (Preview) Hi everyone, I would like some help with directors loan accounts please. I understand that all items paid for by the director needs to go through the DLA, so in practise would this be as follows; Cr DLA van hire £100 Dr Expenses £100 Cr DLA UOH £208 Dr Expenses £208 Dr DLA Directors personal credit card £...	books2013	1	763	Tue Apr 8 12:10 2014 by FoxAccountancyServices
	IR35 (Preview) Good evening! I posted recently about my husband setting up a ltd company as he is currently working as an IT contractor and paying ridiculous fees to an umbrella company to do his payroll. I'm just a little concerned about IR35 issues. For example, he's starting a new 3 month contract next week an...	lizg78	4	1679	Tue Apr 8 07:21 2014 by LizB
	Your Money Laundering Proceedure (Preview) Hi all Was looking for some input as to how you all run your money laundering proceedure as i seem to be getting told and reading (not here) 101 different ways Am really interested to hear how often others record their checks etc and how far everyone goes in the process re identifying - some seem to view...	Angie63	1	798	Mon Apr 7 20:55 2014 by Sharon Eyre
	Trading name, omg how hard can it be!! (Preview) Hi Still trying to think of a trading name and I have one I really like. There is a Limited company with the same name and Limited companies with variations of it but I am a sole trader and will not become a Ltd company anytime soon and if I do then I will have to revisit it. I have done internet searches in Wale...	Samilou67	7	983	Mon Apr 7 18:25 2014 by ilsm
	Net Current Assets (Preview) Can anyone help please? I need to calculate our organisations Net Current Assets, how do I do this?	Sallyann	1	696	Mon Apr 7 16:55 2014 by Bigladnelly
	Sales Invoice VAT (Preview) Hi, If you raise a sales invoice but need to charge the client for expenses incurred, and you are vat registered, do you charge vat for the expenses line? And if so, is it the gross amount that you add vat on? Hope this makes sense? thanks in advance!	JOKERRBOOKS	2	928	Sun Apr 6 21:57 2014 by JOKERRBOOKS
	Trial Balance does not match accountants (Preview) Hi All, I do the book keeping for my Fathers business and we have had an accountant to do the year end calc's for HMRC this year etc I have been going though all of the info he has sent over, done all the adjustment journals etc but the trial balance they have sent has a different total figure than the one I h...	dgts2011	2	1146	Sat Apr 5 19:49 2014 by dgts2011
	Journal entries (Preview) I've come to my year end and I have a number of invoices that were raised, deposits taken on account and which are not going to be paid until the job has been done (into the new financial year). The purchases that relate to this have not actually occurred yet although the goods are on order (using sage inst...	Jonular	3	947	Sat Apr 5 19:25 2014 by Jonular
	Repayment on account on company credit card (Preview) Hi all,I have been struggling with posting some credit transactions on one of my company credit card. To give you more of a contest, I have set up a PL account for each credit card holder and I have made payments from the 1240 after transferring some money over from the main bank account 1200. This ideall...	Epanine	3	745	Sat Apr 5 17:10 2014 by Stardoe
	Bookkeeper near Cirencester/Swindon? (Preview) Hi I just wondered if there was a friendly bookkeeper near Cirencester Swindon who might be able to spend a couple of hours with me and an account to help me a bit and look over what I have done and basically offer me some guidance? Cheers Rachael	rachael-pink	1	1003	Sat Apr 5 11:45 2014 by StuartAnder
	How to handle this transaction in QuickBooks (Preview) Hello everyone, I'm a student of accounting and am about three weeks from finishing my first accounting class. In class we do manual double entry accounting excercises with pencil and paper. These excercises are done in a workbook and the problems are in the textbook. The textbook has a section f...	viperbyte	5	1178	Wed Apr 2 15:29 2014 by viperbyte
	Correcting a wrong entry a few months later (Preview) Dear Members, If I have discovered an incorrect entry from Jan 2014, now (30th March 2014), when it comes to creating a correction journal I have been informed that it is very important that adjustments to the accounts and corrections are done in the correct period. but my colleague is concerned...	emmjea	2	886	Tue Apr 1 22:08 2014 by EPF_Solutions
	Pensions (Preview) The business owners have their pension contributions paid direct from the business. Am I right in thinking this is an allowable expense? They have also just drawn £20000 direct to their pension fund claiming they are owed it from introducing capital some time back. Would this be drawings still, the...	Rhianrach	4	817	Tue Apr 1 18:37 2014 by Sharon Eyre
	Good NEWS!!! :) (Preview) I thought I would share my good news,,,,I have reduced my hours at work to have more time to focus on my own business at 1st Stop Accountancy Services Bristol Ltd,,,,,,I am very happy now to have more time to run my practice. All that have read my previous posts know this is something I have wanted to do for...	lor	13	1118	Mon Mar 31 22:37 2014 by ClawzCTR
	Best use of time? (Preview) Hi everyone, I was wondering what you thought would be the best use of time for a dedicated personal tax department now that the January 31st deadline has come and gone? Any suggestions in particular for things we could do now to prepare for the 2015 busy period would be greatly appreciated. :)	EOD1991	4	860	Mon Mar 31 22:31 2014 by MarkS
	Convertible security Note Deed (Preview) Does anyone know anything at all about the above and the VAT implications if operating on a Cash Accounting basis. If an invoice is settled by a Convertible Security Note Deed is VAT payable or not. Client is telling me not but I am not convinced. Need to understand how these work as don't want to get in t...	Elaine R	1	649	Mon Mar 31 22:04 2014 by FoxAccountancyServices
	Invoices (Preview) Hi all, I have a new client who recently set up his own business and I am having some issues appertaining to invoices. 1. Out of the invoices he has given me about 20 of them have not been paid out of either of his bank accounts or his credit card, with the exception of one or two they have all been paid with eit...	Vix606	6	1197	Mon Mar 31 21:52 2014 by FoxAccountancyServices
	Small Business Lump Sum Rebate NI (Preview) Hi there - im wondering if someone can help me - I run a small business and do my own books as I have a PDA but had heard from a friend that small businesses are entitled to a lump sum for National Insurance??? They received £2000 via their accountant mentioning this to them but they didn't know specific det...	kselm	2	1118	Mon Mar 31 20:27 2014 by FoxAccountancyServices
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