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

Noola · Noola

The company I work for has received a letter regarding an employee owing money for council tax and has requested we deduct a percentage out of his wage every week. We pay this directly to the council by cheque. How would you categorise this in the columns in the accounts and would it be classed as an expe...

buckland10 · buckland10

Hello, I've been looking at this for too long and now my head is all muddled. I use Liberty Accounts and started here mid way through a financial year. It was the first time the system had been used so I had to enter all opening balances. This has led to a large balance in the suspense account which I now ne...

Odin · Odin

Hi everyone, I am director/sole shareholder of a Ltd company, and I have a question in relation to claiming my travelling expenses. The HMRC website says: "Only two types of journey count as business travel: journeys that form part of an employee's employment duties (such as journeys between...

beckyboo · beckyboo

Hi Everyone, Hope you are all ok? I am doing a bank reconcilliation and i am trying to allocate a credit from a supplier.I originally paid an invoice for £301.87 then i realised i had been over charged for an item on the invoice. The overpaid amount was £25.00. I had already entered the invoice £301.87 as...

sally-anne · sally-anne

Hi Guys Question regarding ICB exams, does anybody know if the exams are using VAT at 17.5% or are they at the new VAT rate. Many thanks.

Noola · Noola

Does anyone ever use these? I have been studying AAT for years but have never come across T Accounts being used in the workplace. I do manual bookkeeping at work by using excel but T Accounts have never come into it. When are they ever used?

no-middle-name · no-middle-name

Hello, another Newbie hoping to get help. Thrilled to find this site, looking forward to learning and hopefully being helped out of some of my 'Senior Moments' which seem to happen so often.. I use Sage Instant. Year end is Dec 31st. Closed January and find that the balance sheet shows more partners...

HendyPhilhendy · HendyPhilhendy

I thought I would share this quick story of a potential client I met with last week. One of my bookkeeper connections asked if I would give my initial consultation to one of his clients. Of course I would. We ran through their latest figures from sage as well as the last set of accounts that were prepared....

fabs79 · fabs79

Hi All, I'm hoping someone can point me in the right direction as this is the first time I'm dealing with this type of situation. I'm keeping the books for a partnership that originally had 2 partners and I'll be soon dealing with the appropriation of profits at the year end. They admitted a new partner 8...

Kris1 · Kris1

Hi Everyone, Your feedback on the matters below would be greatly appreciated: 1. What is the best way to post wages journals into Sage, and how do I deal with say a pay advance to an employee if I have shown it debitting the bank account as Net wages (2220) or if SSP payments have been made to an employee. 2...

Nicola27 · Nicola27

Hi i understand how to do prepayments, but what is the correct way to do it when you have an invoice. I was thinking post the invoice to Prepayment 1103 and then journal x amount over to rent every month. Or do i need to post it to rent, and then move that to 1103 and then move it back every month? Thanks

beckyboo · beckyboo

Hi all, Hope you all are well? I hope someone can help... I just wondered what nominal code i should use when entering a Liability insurance invoice onto sage line 50? Its proberely a silly question but im really new to all this. Thanks very much Becky Boo

chatcat · chatcat

My first ever question on this forum is kind of embarrassing - it's part of why I want to become better informed on bookkeeping and accountancy issues, so it does not happen again. Anyway, our small compay was fined £150 for late company accounts. What nominal code in Sage should this come under? It's...

student2010 · student2010

i have a question regarding fixtures and fittings. what to include and what not to include in fixtures and fittings?thanks in advance

MamaMia · MamaMia

I'd welcome help with understanding how to do the following: My client bought a MAC computer in April 2010 for 1,700Euros but in January 2011 decided to exchange it for web design services to the value 1,700Euros (Bartering exchange). Both parties have exchanged invoices with each other to the valu...

samg123 · samg123

I am currently studying towards AAT and have not yet got to Tax yet but i would like to know why there is a difference and how it is calcualted. For example if i had a sole trader who's year runs 1st Jan to 31st Dec. Is it not difficult to calulate the tax and VAT if the year end accounts were done in dec, not Apri...

tommy606 · tommy606

I am very new to bookkeeping and was after some advice on how to record the information from our till. Is there a set way the information should be recorded? How do you deal with discrepencies from the tills Z report and the figure based on the actual cashing up? Are there any excel templates for collatin...

Apollo · Apollo

Hi Can anyone help with this quandry? I am doing an Adv. Sage course and the way of processing VAT relief for old [post-6 months] bad debts w/o is confusing. Acct textbooks like Wood say that such VAT relief claimed should be added to Input Tax, not, it seems, just deducted from Output Tax. But it terms of...

Janem · Janem

The Company I work for has alot of travel expenses and therefore cafe/bar receipts for their meals and refreshments. In addition the office has very limited resources and staff meetings ,interviews,client meetings atake place off the premises, again prompting alot of bar/cafe receipts. I know t...

Richard231 · Richard231

Leon Herman (Chartered Accountants & Business Advisors) host a Bookkeepers' Club for sole traders / small businesses of bookeepers. The idea is to keep you updated with accounting / tax changes, provide any advice that you may want on any issues, and have a guest speaker each meeting to present...

Topic		Started By	Replies	Views	Last Post
	Attachment of earnings order (Preview) The company I work for has received a letter regarding an employee owing money for council tax and has requested we deduct a percentage out of his wage every week. We pay this directly to the council by cheque. How would you categorise this in the columns in the accounts and would it be classed as an expe...	Noola	5	8271	Thu Feb 24 19:40 2011 by Merlion ABS
	Suspense Account Muddle (Preview) Hello, I've been looking at this for too long and now my head is all muddled. I use Liberty Accounts and started here mid way through a financial year. It was the first time the system had been used so I had to enter all opening balances. This has led to a large balance in the suspense account which I now ne...	buckland10	2	3309	Thu Feb 24 19:37 2011 by Merlion ABS
	Claiming Travel Expenses (Preview) Hi everyone, I am director/sole shareholder of a Ltd company, and I have a question in relation to claiming my travelling expenses. The HMRC website says: "Only two types of journey count as business travel: journeys that form part of an employee's employment duties (such as journeys between...	Odin	3	2537	Thu Feb 24 19:31 2011 by Merlion ABS
	bank reconcilliation (Preview) Hi Everyone, Hope you are all ok? I am doing a bank reconcilliation and i am trying to allocate a credit from a supplier.I originally paid an invoice for £301.87 then i realised i had been over charged for an item on the invoice. The overpaid amount was £25.00. I had already entered the invoice £301.87 as...	beckyboo	6	1657	Thu Feb 24 12:57 2011 by beckyboo
	ICB EXAMS (Preview) Hi Guys Question regarding ICB exams, does anybody know if the exams are using VAT at 17.5% or are they at the new VAT rate. Many thanks.	sally-anne	2	3216	Thu Feb 24 09:16 2011 by sally-anne
	T Accounts (Preview) Does anyone ever use these? I have been studying AAT for years but have never come across T Accounts being used in the workplace. I do manual bookkeeping at work by using excel but T Accounts have never come into it. When are they ever used?	Noola	21	6064	Wed Feb 23 17:27 2011 by Alan3
	New Year Balance sheet (Preview) Hello, another Newbie hoping to get help. Thrilled to find this site, looking forward to learning and hopefully being helped out of some of my 'Senior Moments' which seem to happen so often.. I use Sage Instant. Year end is Dec 31st. Closed January and find that the balance sheet shows more partners...	no-middle-name	6	3480	Wed Feb 23 16:37 2011 by no-middle-name
	Can't afford to call their accountant advising accountants high cost accountant fixed fee (Preview) I thought I would share this quick story of a potential client I met with last week. One of my bookkeeper connections asked if I would give my initial consultation to one of his clients. Of course I would. We ran through their latest figures from sage as well as the last set of accounts that were prepared....	HendyPhilhendy	7	7660	Tue Feb 22 13:38 2011 by Merlion ABS
	Partnership - Interest on Partners' Capital when Capital Balance changes during the year partnership partners capital admission of new partner (Preview) Hi All, I'm hoping someone can point me in the right direction as this is the first time I'm dealing with this type of situation. I'm keeping the books for a partnership that originally had 2 partners and I'll be soon dealing with the appropriation of profits at the year end. They admitted a new partner 8...	fabs79	1	5962	Tue Feb 22 13:23 2011 by Merlion ABS
	Prepayments and accruals and Wages Journals (Preview) Hi Everyone, Your feedback on the matters below would be greatly appreciated: 1. What is the best way to post wages journals into Sage, and how do I deal with say a pay advance to an employee if I have shown it debitting the bank account as Net wages (2220) or if SSP payments have been made to an employee. 2...	Kris1	9	11673	Mon Feb 21 22:50 2011 by MarkS
	Prepayments (Preview) Hi i understand how to do prepayments, but what is the correct way to do it when you have an invoice. I was thinking post the invoice to Prepayment 1103 and then journal x amount over to rent every month. Or do i need to post it to rent, and then move that to 1103 and then move it back every month? Thanks	Nicola27	7	3877	Mon Feb 21 22:40 2011 by MarkS
	what nominal code should be used when adding liability insurance? (Preview) Hi all, Hope you all are well? I hope someone can help... I just wondered what nominal code i should use when entering a Liability insurance invoice onto sage line 50? Its proberely a silly question but im really new to all this. Thanks very much Becky Boo	beckyboo	6	14086	Mon Feb 21 20:27 2011 by gbm
	How should a fine from HMRC or Companies House be treated (a) in Sage, (b) in the company accounts? (Preview) My first ever question on this forum is kind of embarrassing - it's part of why I want to become better informed on bookkeeping and accountancy issues, so it does not happen again. Anyway, our small compay was fined £150 for late company accounts. What nominal code in Sage should this come under? It's...	chatcat	10	28615	Mon Feb 21 17:48 2011 by MarkS
	Fixtures and fittings (Preview) i have a question regarding fixtures and fittings. what to include and what not to include in fixtures and fittings?thanks in advance	student2010	3	6878	Mon Feb 21 11:29 2011 by student2010
	How to remove an Asset in exchange for Bartering Services Bartering Services Asset (Preview) I'd welcome help with understanding how to do the following: My client bought a MAC computer in April 2010 for 1,700Euros but in January 2011 decided to exchange it for web design services to the value 1,700Euros (Bartering exchange). Both parties have exchanged invoices with each other to the valu...	MamaMia	5	6057	Mon Feb 21 00:58 2011 by MamaMia
	Year end VS Tax Year end (Preview) I am currently studying towards AAT and have not yet got to Tax yet but i would like to know why there is a difference and how it is calcualted. For example if i had a sole trader who's year runs 1st Jan to 31st Dec. Is it not difficult to calulate the tax and VAT if the year end accounts were done in dec, not Apri...	samg123	1	1303	Sun Feb 20 22:06 2011 by gbm
	Cashing up the Till and Recrding the information cash cashing up Z report excel templat (Preview) I am very new to bookkeeping and was after some advice on how to record the information from our till. Is there a set way the information should be recorded? How do you deal with discrepencies from the tills Z report and the figure based on the actual cashing up? Are there any excel templates for collatin...	tommy606	1	11854	Sun Feb 20 12:42 2011 by Rhianrach
	VAT Relief on Bad Debt w/o - how to do in SAGE (Preview) Hi Can anyone help with this quandry? I am doing an Adv. Sage course and the way of processing VAT relief for old [post-6 months] bad debts w/o is confusing. Acct textbooks like Wood say that such VAT relief claimed should be added to Input Tax, not, it seems, just deducted from Output Tax. But it terms of...	Apollo	10	24014	Fri Feb 18 21:33 2011 by Stardoe
	Subsistence allowances (Preview) The Company I work for has alot of travel expenses and therefore cafe/bar receipts for their meals and refreshments. In addition the office has very limited resources and staff meetings ,interviews,client meetings atake place off the premises, again prompting alot of bar/cafe receipts. I know t...	Janem	0	1761	Thu Feb 17 16:43 2011 by Janem
	FREE BOOKKEEPERS CLUB / SEMINAR, MANCHESTER (Preview) Leon Herman (Chartered Accountants & Business Advisors) host a Bookkeepers' Club for sole traders / small businesses of bookeepers. The idea is to keep you updated with accounting / tax changes, provide any advice that you may want on any issues, and have a guest speaker each meeting to present...	Richard231	3	3566	Thu Feb 17 10:35 2011 by Richard231
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