Hello, my friend has a small building company and he is buying a lot of small amounts bills from ebay, usually each one from a different person. I would like to ask how should those be posted on Sage? I appreciate any answer. Thank you. Michelle
Personally I would set up a Supplier account named Ebay, post the invoices to this and pay them from the bank as normal invoices. The other way to do it would be to post them as bank payments to the relevant nominal code.
Hello Jeremy :)
First of all thank you for your help. I will post them as bank payments. Regarding the car he uses it just for business purposes.
I'm doing my AAT and so not sure about many things but don't want to make any mistakes...:)
Michelle
But to be honest he doesn't buy anything on credit, pays for everything at the time of purcgase. So you wouldn't set up any supplies on Sage in this case and do everything as a bank payments? Even if he buys regulary from some of them?
Sorry for all this propably silly for you questions.
Michelle
AAT is an excellent starting point & gives you great grounding... Don't be shy in asking questions - loads of helpful advice for free available on this forum.
This is going slightly off piste from your original post, but please be conscious that there are P11d implications if it is a company car and fuel is paid for by the company. I know you said it was a car but just wanted to clarify it is not a van (as you said he was a builder)
If it is a company car he may be better of paying petrol privately and claiming the appropriate mileage rate.
Lots of ifs and maybes without knowing all the facts - does he have an accountant / tax advisor to ensure he is doing this in the most tax efficient manner?
Happy to advise what I can but will need to know a lot more.
Thanks
Jeremy
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I am very happy with my AAT choice. I have some knowledge as I have worked as an assistant in accounts department for few years. It is now good to fill a lot of gaps and our tutor is amazing. Also this forum is very helpful.
A friend of mine who has a small building company has asked me to help him with all the paperwork. As far as I know he has never had any long term accountant / tax advisor. He was doing all his figures in excel (Sales and purchase invoices and I must say very nicely organized). At the end of each year he would take all the final figures to an accountant and that person would do do his tax, advising him what percentage needs to be included.
Regarding the car, no it's not a van but one of those long cars, sorry not sure what they are called...;). He has another car which he uses for all private purposes and I do believe that as the business car looks inside like builder's car, if you know what I mean....;) This one is only for business.
I asked him regarding the petrol and he has told me that accountant told him all fuel bills are can be included.....
I must say it is a challenge for me to help him but I would like to be 100% correct with everything that's why I'm bothering people like you who are so kind and help.
Actually if you don't mind I would like to ask few more questions. However I wouldn't like to do it on a forum. i think it should be confidential. Could I email you?
