I am a new user and would like some advice regarding the following. With regard to the new Gas Safe Register regulations any boilers installed have to be registered with them at a charge of £2.50. How should I show this charge within my accounts (i use sage instant accounts)
You could either charge them under Professional Fees which is in the range 7600 (which would be an expense in the P & L) or under the 5000 range which would put them as a direct cost out of gross profit/loss.
is this a one off from the installation of a new boiler or is it something that you do as a profession?
if a one off, then I would put the cost in with the boiler purchase and installation costs, however, if it is part of your business, then I would put it as a cost of sale with the boiler purchase cost (not the same nominal code though).
Thank you for your advice, as suggested I will open a new nominal code (in the 5000's) as it is a payment that has to be made for every boiler installed it has to be registered
