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

Sammy76 · Sammy76

I am working for a new client and am sorting bank recs. The previous bookkeeper never did bank recs on Sage though they were meticulous in making sure that everything was entered. Rather than going back to the beginning of time (well years and years of accounts) I agreed with their accountant to do a rec...

rafapak · rafapak

hi guys I have troubles to catch what they mean here. 1.they tell you to remove incorrect entry with one side entry 2.they tell you to record correct entry with one side entry 3.they tell you to remove the suspense account balance with one side entry can those entries be separated from suspense accoun...

Jay · Jay

Good afternoon. Not book keeping related but maybe an issue for some of you. Over the past 3 weeks we have had a number of emails returned as undelivered. I noticed that they were all BT Internet email addresses. I discussed this with BT for over an hour who were less than helpful. I then spoke with our IT...

rafapak · rafapak

hi guys Please , help me to understand this one. Error - ' recording a prompt payment discount allowed correctly in general ledger but not recording it in the subsidiary ledger' Can this error be disclosed by TB or not ? if it can be disclosed-why ? if it can not be disclosed-why? My thinking is that tot...

rafapak · rafapak

hi guys why is this important that the difference is divisible by 9 ?

rafapak · rafapak

Hi guys I would like to ask you for help since there is something that I don't get when we talk about irrecoverable debts. Let's say I run the business and sold my products to a customer on credit. My sales are vatted. Some time later I found out that i will never be paid sales invoice cause the customer wen...

rafapak · rafapak

hi guys I would like to ask you how should I approach this exercise ? ' A BACS payment for 1197 pounds has been received from Malvern Fashion wno incorrectly state that the amount is in full settlement of their account balance as at 31 March 20-x. The customer's account in sales ledger is shown below. Y...

Sharon Eyre · Sharon Eyre

Just because I am feeling a little pleased with myself thought I would share my news - I recently decided to take an additional module with AAT - Business Tax as it wasn't offered as an option when I originally took my AAT - and after a five week college course I took my exam and PASSED!!! Now - what to stud...

Samilou67 · Samilou67

Hi, just wondering how you charge for self assessment returns? I normally charge by the hour for accounts and payroll but have a couple of one off tax returns to complete which are very basic. Just employment income, employment loan and some self employed transactions.

Moonraker · Moonraker

Hi All, I have a client who takes a 50% deposit from their customer before they supply and fit the goods they sell. The invoice is issued and remaining 50% balance paid by the customer once supply and fitting has been completed. I currently record the deposit as a payment on account against the custom...

meadow · meadow

So today I have passed my level 3 BA7 ICB exam! Am so pleased with myself!!!!! Am now all set to turn it up an notch and crack on to get myself really going so I can take the final plunge! Thank you to everyone for your support over the last few months with my questions of how to do what and when!! Am so up for my n...

Fenella · Fenella

Is anyone else being asked repeatedly to complete the declaration when they have already done it? Our start date was 1st August and I did the declaration on the 16th. Then this month I get a snotty email telling me time is running out to...do the declaration. So I have done it again. Neither time have I re...

rafapak · rafapak

hi guys I have exercises where I have to classify items to credit or debit side of trial balance. I have troubles to interpret what interest paid on overdraft is. My thinking is that if you have bank overdraft you are supposed to pay your debt within certain period of time. If you don't pay within this per...

Jaded · Jaded

Hello, really hoping someone can help. I have started a new job mainly admin based but as I have some experience using Sage I have been asked to do the accounts for the business. To be fair it is a very small cleaning business and fairly new so I didn't think it would be much of an issue. Trouble is I have no id...

rafapak · rafapak

hi guys what is the answer to question above ?

allovera · allovera

Hello, I've been taken on to do the books for a new, small pub in town. My question is regarding the takings and sales. I think I might be getting myself in a muddle and want to make sure I'm doing the right thing. I've been putting sales for the pub as wet and dry (they do food too), adding them as invoic...

rafapak · rafapak

hi guys I am supposed to check invoice and delivery note . In instruction c) I am supposed to answer the question if correct discount has been applied on invoice. Invoice says that 10% discount is applied if payment is made within 10 days. They don't specify when payment will be made so we don't know if di...

rafapak · rafapak

Hi guys I would like to ask you for help. I sold goods to customer. Customer pays immediately by cheque. 1. Because customer pays immediately, is this cash sale ? 2.Should this sale be recorded in cash sales column in cashbook ? Since payment is made immediately I don't think it is credit sale. I am pro...

Will Power · Will Power

Hi Everyone, What is the correct double entry for incorporation fees paid to companies house to register a limited company? Thanks in advance.

J-dubs · J-dubs

Hi all, I am a AAT qualified and a CIMA student and I have a full time job as a finance analyst. I have recently started doing some bookkeeping for a friend who has a childminding business and is a new start-up. My question is, she has a lot of start up costs that I have receipts for but no corresponding bank s...

Topic		Started By	Replies	Views	Last Post
	Bank Reconciliation in Sage (Preview) I am working for a new client and am sorting bank recs. The previous bookkeeper never did bank recs on Sage though they were meticulous in making sure that everything was entered. Rather than going back to the beginning of time (well years and years of accounts) I agreed with their accountant to do a rec...	Sammy76	13	1779	Thu Nov 24 15:50 2016 by Sammy76
	exercise-suspense account-remove incorrect entry etc (Preview) hi guys I have troubles to catch what they mean here. 1.they tell you to remove incorrect entry with one side entry 2.they tell you to record correct entry with one side entry 3.they tell you to remove the suspense account balance with one side entry can those entries be separated from suspense accoun...	rafapak	2	1465	Tue Nov 22 17:11 2016 by rafapak
	Emails (Preview) Good afternoon. Not book keeping related but maybe an issue for some of you. Over the past 3 weeks we have had a number of emails returned as undelivered. I noticed that they were all BT Internet email addresses. I discussed this with BT for over an hour who were less than helpful. I then spoke with our IT...	Jay	12	1364	Tue Nov 22 13:47 2016 by VinceH
	accounting error-disclosed by TB or not ? (Preview) hi guys Please , help me to understand this one. Error - ' recording a prompt payment discount allowed correctly in general ledger but not recording it in the subsidiary ledger' Can this error be disclosed by TB or not ? if it can be disclosed-why ? if it can not be disclosed-why? My thinking is that tot...	rafapak	3	1345	Mon Nov 21 20:17 2016 by VinceH
	error of original entry- not detected by TB (Preview) hi guys why is this important that the difference is divisible by 9 ?	rafapak	6	1724	Mon Nov 21 14:25 2016 by rafapak
	irrecoverable debts-vat (Preview) Hi guys I would like to ask you for help since there is something that I don't get when we talk about irrecoverable debts. Let's say I run the business and sold my products to a customer on credit. My sales are vatted. Some time later I found out that i will never be paid sales invoice cause the customer wen...	rafapak	6	977	Sun Nov 20 15:31 2016 by rafapak
	trial and error- transactions outstanding (Preview) hi guys I would like to ask you how should I approach this exercise ? ' A BACS payment for 1197 pounds has been received from Malvern Fashion wno incorrectly state that the amount is in full settlement of their account balance as at 31 March 20-x. The customer's account in sales ledger is shown below. Y...	rafapak	13	1934	Fri Nov 18 22:32 2016 by rafapak
	Exam results (Preview) Just because I am feeling a little pleased with myself thought I would share my news - I recently decided to take an additional module with AAT - Business Tax as it wasn't offered as an option when I originally took my AAT - and after a five week college course I took my exam and PASSED!!! Now - what to stud...	Sharon Eyre	29	2288	Fri Nov 18 10:02 2016 by Leger
	Charging (Preview) Hi, just wondering how you charge for self assessment returns? I normally charge by the hour for accounts and payroll but have a couple of one off tax returns to complete which are very basic. Just employment income, employment loan and some self employed transactions.	Samilou67	7	1168	Fri Nov 18 00:03 2016 by MarkS
	Accrued Sales (Preview) Hi All, I have a client who takes a 50% deposit from their customer before they supply and fit the goods they sell. The invoice is issued and remaining 50% balance paid by the customer once supply and fitting has been completed. I currently record the deposit as a payment on account against the custom...	Moonraker	4	1158	Thu Nov 17 14:25 2016 by Moonraker
	Celebrating (Preview) So today I have passed my level 3 BA7 ICB exam! Am so pleased with myself!!!!! Am now all set to turn it up an notch and crack on to get myself really going so I can take the final plunge! Thank you to everyone for your support over the last few months with my questions of how to do what and when!! Am so up for my n...	meadow	3	899	Mon Nov 14 10:37 2016 by Hyperion
	Auto enrolment Declaration of Compliance (Preview) Is anyone else being asked repeatedly to complete the declaration when they have already done it? Our start date was 1st August and I did the declaration on the 16th. Then this month I get a snotty email telling me time is running out to...do the declaration. So I have done it again. Neither time have I re...	Fenella	2	863	Mon Nov 14 09:06 2016 by Fenella
	interest paid on overdraft (Preview) hi guys I have exercises where I have to classify items to credit or debit side of trial balance. I have troubles to interpret what interest paid on overdraft is. My thinking is that if you have bank overdraft you are supposed to pay your debt within certain period of time. If you don't pay within this per...	rafapak	4	980	Wed Nov 9 23:53 2016 by rafapak
	Baffled (Preview) Hello, really hoping someone can help. I have started a new job mainly admin based but as I have some experience using Sage I have been asked to do the accounts for the business. To be fair it is a very small cleaning business and fairly new so I didn't think it would be much of an issue. Trouble is I have no id...	Jaded	14	1434	Wed Nov 9 10:56 2016 by Cheshire
	mortgage- asset or liability ? (Preview) hi guys what is the answer to question above ?	rafapak	3	881	Tue Nov 8 06:31 2016 by rafapak
	Small pub bookkeeping- need help! (Preview) Hello, I've been taken on to do the books for a new, small pub in town. My question is regarding the takings and sales. I think I might be getting myself in a muddle and want to make sure I'm doing the right thing. I've been putting sales for the pub as wet and dry (they do food too), adding them as invoic...	allovera	8	1225	Mon Nov 7 01:54 2016 by allovera
	discount exercise- help needed-illustrations provided (Preview) hi guys I am supposed to check invoice and delivery note . In instruction c) I am supposed to answer the question if correct discount has been applied on invoice. Invoice says that 10% discount is applied if payment is made within 10 days. They don't specify when payment will be made so we don't know if di...	rafapak	16	1248	Sun Nov 6 12:17 2016 by Cheshire
	immediate payment by cheque- cash sales ? (Preview) Hi guys I would like to ask you for help. I sold goods to customer. Customer pays immediately by cheque. 1. Because customer pays immediately, is this cash sale ? 2.Should this sale be recorded in cash sales column in cashbook ? Since payment is made immediately I don't think it is credit sale. I am pro...	rafapak	8	1679	Sat Nov 5 23:27 2016 by Leger
	Incorporation fee accounting treatment Incorporation Fees Accounting Treatment Double Entry (Preview) Hi Everyone, What is the correct double entry for incorporation fees paid to companies house to register a limited company? Thanks in advance.	Will Power	1	1021	Sat Nov 5 15:35 2016 by Shamus
	New to this - advice needed (Preview) Hi all, I am a AAT qualified and a CIMA student and I have a full time job as a finance analyst. I have recently started doing some bookkeeping for a friend who has a childminding business and is a new start-up. My question is, she has a lot of start up costs that I have receipts for but no corresponding bank s...	J-dubs	3	802	Fri Nov 4 23:43 2016 by Cheshire
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