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

Cheshire · Cheshire

Just come across a Bank entry from December - payment to Fortnum & Mason and the Director/shareholder has written on the receipt 'gift for xx' who is another shareholder (although not involved in the day to day running of the company. Blatantly looks like a Christmas gift. Where should I...

matt123 · matt123

When working on (For example) a 3 month contract how does this get shown if you want management accounts. I assume all expenses incurred on the project up to that point are shown as an asset? How would you then account for this when the product/service is complete?

Crina · Crina

Hi Guys! I prepared the profit and Loss account on Sage 50, there is an item "sales Promotion" whose figure is surprisingly high. I checked the "sales promotion " nominal account, the figure shows on this account is very small. I'm confused!! is it possible that some other nomi...

Newbie66 · Newbie66

Hi there - I am new to CIS and was wondering if someone could help me. Is it necessary to verify all subcontractors. I have seen that if they have been included on a CIS return in the last 3 years that they do not have to be verified. Therefore if you have a new subcontractor to the company and he says that he ha...

rachel_mclean · rachel_mclean

3 weeks ago I was thinking of writing to businesses offering free payroll when I take on their bookkeeping. After advice from others on here I decided not to, lots of work with not so much money coming in. Anyway in the last 3 weeks it has taken off!!! I'm getting calls from new clients every few days.......

Shamus · Shamus

So, considering all of the above who thinks that there is any benefit to taking on or retaining permanent staff? Certainly the opinions being voiced by my clients is that if they did not alreay have the staff then they would not hire them now when short term contracts are far more appealing. No Pension,...

Amanda · Amanda

Hi Everyone, I know alot of you have specific software, like QB's SAGE and VT, but as your business grows do you keep separate spread sheet of how many customers you have etc (hopefully clients are increasing), what I am asking is how much 'house keeping' do you actually do on your own business, other th...

morgwick · morgwick

Hi I have a mental block.. I know that once you start claiming mileage allowance, you cannot change to the full cost method until the car is changed. But what about vice versa. If already claiming full motor costs, can it be changed to a mileage allowance at any time?

Emma85 · Emma85

Hi, I am an accounting newbie so please go easy on me! My partner and I have set up a small LTD company and I am trying to put all our accounts through sage to save on our accountants fees at the end of the year! We have just taken out a hire purchase on a new van, and I am confused how to account for it in Sage. We pa...

Princess · Princess

i have a client that travels all over the world delivering training sessions. when she goes to a country she doesn't feel safe (eg south America) she takes her partner. Whilst I would ordinarily say that his flights aren't allowable I am wondering in this situation where he is going purely to accom...

Samilou67 · Samilou67

Hi please can someone clarify this info below from a new accountant. 1200 Bank account Sage cr Iris dr Journals Dr 1703.25 85.38 1788.63 ...

lisabrown · lisabrown

Hi there Im new to this so please be gentle with me! Can anyone help me re capital allowances I have purchased a laptop and bureau for my self employed business - used just for self employed work (i have another laptop i use for personal use) I went on the HMRC webinar but couldnt work out what i needed to do!...

Elaine R · Elaine R

Can a director claim motor expenses for using his own car when using it for business use? Expenses such as Fuel. insurance, etc? The car is not owned by the limited company it is owned personally by the director but he uses it for business use. I think the answer will be yes but deduct personal use elem...

Cheshire · Cheshire

Hi Ive got three companies who all run their own payroll. A couple of staff were paid from one (company A) before their own payroll (Company B) was set up. How is the best way to show the payroll costs in the correct Company (A)?

Frame · Frame

Hi, I was wondering whether anyone would help me with the most appropriate double entry for the receipt of cash for an R&D tax credit? At the moment it is in our system as Dr Cash, Cr Corporation tax but does this need to be taken to the P&L?

Cheshire · Cheshire

Hi I have two connected Limited companies and Accountant has decided to change their year end to march. One is currently Jan (so shows as start date Feb 2013 in sage). One is currently May (so shows as start date June 2013 in sage). Accountant has done year end figures to March and now wants me to change...

morgwick · morgwick

Morning, I have a new client (hurray!) which operates similar to a payroll umbrella I suppose, but deals with self employed contractors. If I'm correctly informed, recruitment agencies can only pay contractors via PAYE or if the contractor is a limited company. My client has arranged it so that the...

lmshanny1 · lmshanny1

Hi, We have recently done an inventory I have found assets that were bought before accounts were ever kept or that were bought in previous years accounts that i cant find the payments made in the system. How can increase these fixed assets? Also our company has a fixed monthly salary and fixed 6 weeks...

Tammy · Tammy

Hi there everyone, I am getting confused about how to work out tax on dividends at the higher rate, please help. Sorry it's a bit long. HMRC website says:"If you pay tax at the higher rate You pay a total of 32.5 per cent tax on dividend income inclusive of tax credit where this falls above the ba...

Sammy76 · Sammy76

How do I journal wages incl SSP Figures I have are Gross incl 260.10 SSP : 6050.14 ER NIC: 356.73 Net: 5372.93 PAYE/NI: 1033.94 (with a figure of 860.15 as deductions less below) SSP reclaimed (I think - the spreadsheet doesn't say so I'm having to guess): 173.79 Thanks

Topic		Started By	Replies	Views	Last Post
	Gift for shareholder (Preview) Just come across a Bank entry from December - payment to Fortnum & Mason and the Director/shareholder has written on the receipt 'gift for xx' who is another shareholder (although not involved in the day to day running of the company. Blatantly looks like a Christmas gift. Where should I...	Cheshire	3	689	Sun Feb 16 16:10 2014 by Cheshire
	Work In Progress (Preview) When working on (For example) a 3 month contract how does this get shown if you want management accounts. I assume all expenses incurred on the project up to that point are shown as an asset? How would you then account for this when the product/service is complete?	matt123	4	1050	Sun Feb 16 14:34 2014 by bk1928
	Sales promotion a/c (Preview) Hi Guys! I prepared the profit and Loss account on Sage 50, there is an item "sales Promotion" whose figure is surprisingly high. I checked the "sales promotion " nominal account, the figure shows on this account is very small. I'm confused!! is it possible that some other nomi...	Crina	5	1099	Sun Feb 16 11:28 2014 by Cheshire
	CIS Help (Preview) Hi there - I am new to CIS and was wondering if someone could help me. Is it necessary to verify all subcontractors. I have seen that if they have been included on a CIS return in the last 3 years that they do not have to be verified. Therefore if you have a new subcontractor to the company and he says that he ha...	Newbie66	2	962	Sun Feb 16 11:26 2014 by Cheshire
	New clients are flying in......just want to share my good fortune with everyone!! (Preview) 3 weeks ago I was thinking of writing to businesses offering free payroll when I take on their bookkeeping. After advice from others on here I decided not to, lots of work with not so much money coming in. Anyway in the last 3 weeks it has taken off!!! I'm getting calls from new clients every few days.......	rachel_mclean	12	1176	Sun Feb 16 10:22 2014 by Elaine R
	New SSP Rules, Pensions and RTI (Preview) So, considering all of the above who thinks that there is any benefit to taking on or retaining permanent staff? Certainly the opinions being voiced by my clients is that if they did not alreay have the staff then they would not hire them now when short term contracts are far more appealing. No Pension,...	Shamus	1	1247	Fri Feb 14 19:38 2014 by Don Tax
	A quick Question (Preview) Hi Everyone, I know alot of you have specific software, like QB's SAGE and VT, but as your business grows do you keep separate spread sheet of how many customers you have etc (hopefully clients are increasing), what I am asking is how much 'house keeping' do you actually do on your own business, other th...	Amanda	8	1148	Fri Feb 14 13:38 2014 by morgwick
	Full Motor Costs to Mileage Allowance (Preview) Hi I have a mental block.. I know that once you start claiming mileage allowance, you cannot change to the full cost method until the car is changed. But what about vice versa. If already claiming full motor costs, can it be changed to a mileage allowance at any time?	morgwick	2	531	Fri Feb 14 13:24 2014 by morgwick
	Hire Purchase Van (Preview) Hi, I am an accounting newbie so please go easy on me! My partner and I have set up a small LTD company and I am trying to put all our accounts through sage to save on our accountants fees at the end of the year! We have just taken out a hire purchase on a new van, and I am confused how to account for it in Sage. We pa...	Emma85	1	1014	Wed Feb 12 14:06 2014 by Rhianrach
	travel costs for spouse (Preview) i have a client that travels all over the world delivering training sessions. when she goes to a country she doesn't feel safe (eg south America) she takes her partner. Whilst I would ordinarily say that his flights aren't allowable I am wondering in this situation where he is going purely to accom...	Princess	3	833	Tue Feb 11 16:50 2014 by YLB-HO
	Opening balance journals (Preview) Hi please can someone clarify this info below from a new accountant. 1200 Bank account Sage cr Iris dr Journals Dr 1703.25 85.38 1788.63 ...	Samilou67	3	1539	Mon Feb 10 11:39 2014 by Sheelagh
	Capital Allowances/Depreciation (Preview) Hi there Im new to this so please be gentle with me! Can anyone help me re capital allowances I have purchased a laptop and bureau for my self employed business - used just for self employed work (i have another laptop i use for personal use) I went on the HMRC webinar but couldnt work out what i needed to do!...	lisabrown	15	1373	Mon Feb 10 11:24 2014 by Sharon Eyre
	Sole director claiming motor expenses (Preview) Can a director claim motor expenses for using his own car when using it for business use? Expenses such as Fuel. insurance, etc? The car is not owned by the limited company it is owned personally by the director but he uses it for business use. I think the answer will be yes but deduct personal use elem...	Elaine R	5	928	Sun Feb 9 15:52 2014 by Shamus
	Moving cost of wages to another company - 2nd brain block of the day (Preview) Hi Ive got three companies who all run their own payroll. A couple of staff were paid from one (company A) before their own payroll (Company B) was set up. How is the best way to show the payroll costs in the correct Company (A)?	Cheshire	3	826	Sun Feb 9 11:04 2014 by Cheshire
	R&D tax credit receipt (Preview) Hi, I was wondering whether anyone would help me with the most appropriate double entry for the receipt of cash for an R&D tax credit? At the moment it is in our system as Dr Cash, Cr Corporation tax but does this need to be taken to the P&L?	Frame	0	1065	Sat Feb 8 19:53 2014 by Frame
	Sage expert required to help change y/end (one - backwards) please (Preview) Hi I have two connected Limited companies and Accountant has decided to change their year end to march. One is currently Jan (so shows as start date Feb 2013 in sage). One is currently May (so shows as start date June 2013 in sage). Accountant has done year end figures to March and now wants me to change...	Cheshire	9	1223	Sat Feb 8 16:58 2014 by Cheshire
	Commission deducted from self employed contractors - vatable? (Preview) Morning, I have a new client (hurray!) which operates similar to a payroll umbrella I suppose, but deals with self employed contractors. If I'm correctly informed, recruitment agencies can only pay contractors via PAYE or if the contractor is a limited company. My client has arranged it so that the...	morgwick	0	798	Fri Feb 7 10:42 2014 by morgwick
	Assets and Staff Leave question (Preview) Hi, We have recently done an inventory I have found assets that were bought before accounts were ever kept or that were bought in previous years accounts that i cant find the payments made in the system. How can increase these fixed assets? Also our company has a fixed monthly salary and fixed 6 weeks...	lmshanny1	0	554	Fri Feb 7 07:43 2014 by lmshanny1
	Tax on UK Dividends (Preview) Hi there everyone, I am getting confused about how to work out tax on dividends at the higher rate, please help. Sorry it's a bit long. HMRC website says:"If you pay tax at the higher rate You pay a total of 32.5 per cent tax on dividend income inclusive of tax credit where this falls above the ba...	Tammy	8	1015	Thu Feb 6 10:04 2014 by RobH
	SSP journal (Preview) How do I journal wages incl SSP Figures I have are Gross incl 260.10 SSP : 6050.14 ER NIC: 356.73 Net: 5372.93 PAYE/NI: 1033.94 (with a figure of 860.15 as deductions less below) SSP reclaimed (I think - the spreadsheet doesn't say so I'm having to guess): 173.79 Thanks	Sammy76	6	3437	Mon Feb 3 20:24 2014 by Stardoe
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