I used to deal with a lot of bounced cheques in my last job. I had a seperate account so they didnt get muddled up. Its not strictly rent paid is it so I would seperate it out. Why dont folk just pay up - it would make our lives so much easier wouldnt it
You could Create new nominal Account for Rent Charges or something similar it it not striclty speaking part of the Rent Account and it would not give a true reflection of the rent account to include it as rent.
Thanks for your help everyone. I've put it to code 6900 Misc Expenses at the moment although whether that is right I don't know. If I created a rent charges code would that be in the 7000's?
Also the client is a furniture maker and has bought a digital camera to take photos of his items to place onto his website. Where do you think I should place the camera?
It would depend on the value, if it cost over £150 you could capitalise it or if it was lass you could post it to 75** which is stationery/computer consumables or I have seen similar things posted to 78** repairs and renewals
I try not to use misc expenses as that can some times be used as an account just to dump things in without any thinking (that is not what I am suggesting you do, just saying), I would think audit/accountancy should be ok or any of the codes in that area 76**.
Sorry - I must have read the original entry incorrectly - I thought the client had charged the £80 fee for the bounced cheque which I took to be income..!
Bank charges for a bounced cheque are exactly that.. Bank charges, and should be posted to that account. Companies House filing is not a fee charged by Accountants or others of the same ilk. Agree with Marky65 that Admin/office Misc Expenses a/c should be used minimally,this is an item thats valid to post there
Hello
I have just started posting financial charges that take a percentage of each credit transaction, card machine rental, Sage Gateway for on-line payments and a web hosting fee. Whew all that just to earn a buck.
I presume the financial charges and on-line payments fee should go to 7905 and card machine rental to 7700 but I don't know which code for the web hosting.