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

rafapak · rafapak

Hi guys I would like to ask you for help. Let's say Mr Brown is our business partner. We sell some products to him and he sells some products to us. So for our company he is both receivable and payable. Since receivables and payables can be compensated when we trade with one business partner do we keep in ou...

leachdc · leachdc

Not sure how i should be calculating a gross margin for a consultancy in an example where revenue is comprised of consulting fees and recharged expenses. Should I be using the gross revenue, or just the total rev from consulting fees? I ask because a larger than normal recharge of expenses dramatical...

NA_AA · NA_AA

Vat - what is allowed when conducting business from home

NA_AA · NA_AA

Hi Is there any difference in reclaim vat for sole traders and ltd companies for pre vat registration expenses

Moeroe · Moeroe

Hi All, I have a client who offers cashback through debit cards when a product is purchased (over a certain amount) I record the cashback seperately but how do I net off on the PNL as I don't really want to record it as taxable income as in theory, the customer has had the cash back so no income has been recei...

NA_AA · NA_AA

Hi What is the best vat scheme for a home based travel agent?

Trojan1970 · Trojan1970

Hello Wise People! Can I pick your brains please? I have picked up a one-off job helping a payroll client to enter a year of bank statement in to Sage 50 Accounts Professional. He takes a lot of sales receipts via paypal and credit/debit cards but has no way of retrospectively telling me who the receip...

livvylongpants · livvylongpants

Good Morning! one of my clients is a garage that sells cars, they offer a 6 month warranty which they have been using a warranty company for. The now want to bring the warranty back in house, how do we account for this. do We need a seperate bank account to hold the warranty payments and extended warra...

Cheshire · Cheshire

morning y'all can I get a full activity/transaction report from VT and how? Idiots guide pls. thanks

Sammy76 · Sammy76

Hi I have been given the opening TB adjustments journal from the accountant for a client. On the adjustments, the last entry is P&L AC. How do I enter this on the journal as it covers several expense and income entries?

LesleyAnne · LesleyAnne

I stupidly posted all of my expenses to a single nominal code and had the Standard VAT on, so this is how the audit looks: Bank CR 336.79 Expenses Debit 280.66 VAT Debit 56.13 Above was reconciled w/ VAT and the Bank months ago. My accountant quite correctly wants me to split...

cjwbooks · cjwbooks

Hi Everyone! Hope you're all having a lovely day! Can anyone recommend any reading material on the ins and outs of bookkeeping in the construction industry? The company I work for are verging into this area more and more and while I have a basic understanding its always better to know more! Also my bo...

dgts2012 · dgts2012

Hi, Hoping someone can help!! We had a supplier come and visit us and he spilt his drink over a computer which we had to replace as it completely buggered it! The supplier has given us a cheque to cover the cost of the new computer which i have banked but i have no idea how to account for it? Any ideas? Than...

dgts2012 · dgts2012

deleting -- Edited by dgts2012 on Thursday 23rd of June 2016 12:22:16 PM

KB2016 · KB2016

After many years at a company I took the leap for a new job with a more attractive package. I studied IAB manual bookkeeping and up to AAT level 3. The girl who worked in the position before me left three weeks before I started so have entered the office to a pile of paperwork and have no one to tell me how thin...

Cheshire · Cheshire

Great to see the forum back after server probs today. Well done to those working in the background to sort whatever it was, which I'm assuming is just Shaun, eapecially knowing how bombed with your own work you have been. I was at a clients who had a three hour power outage today so must be something in t...

Nikole · Nikole

Evening, Upon checking my COA. i have an error for the following: Nominal Code xxxx not represented in the chart. The nominal code set up is the loan account that was set up in the bank module as i use it to pay off supplier invoices if paid for by another company. Should i be creating the loan account nomin...

pbr · pbr

Hi can anyone help to allocate the Entry when builder buy a drill or any power tools will be count as an assets or expense ? Thanks Minaxi

Count1314 · Count1314

I thought that if, say, you bought milk for a premises and shared it with sub-tenants/other tenants and agreed to charge a nominal sum each month (or bought milk to cater for an event), there would have to be VAT included on this recharge invoice.....even though the milk was 0% VAT when originally boug...

abacus12345 · abacus12345

Hi. Is this reasonable? Company issued a VAT invoice with the full value of transaction, plus VAT. Customer takes up on the offer of a discount - is it reasonable to issue a credit note against the original invoice for the difference? If not, I'm assuming manual journals Thanks

Topic		Started By	Replies	Views	Last Post
	receivable and payable at the same time (Preview) Hi guys I would like to ask you for help. Let's say Mr Brown is our business partner. We sell some products to him and he sells some products to us. So for our company he is both receivable and payable. Since receivables and payables can be compensated when we trade with one business partner do we keep in ou...	rafapak	2	779	Sat Jul 2 13:36 2016 by rafapak
	Gross margin - Consultancy (Preview) Not sure how i should be calculating a gross margin for a consultancy in an example where revenue is comprised of consulting fees and recharged expenses. Should I be using the gross revenue, or just the total rev from consulting fees? I ask because a larger than normal recharge of expenses dramatical...	leachdc	1	738	Wed Jun 29 21:57 2016 by Cheshire
	Vat -- what is allowed when conducting busin (Preview) Vat - what is allowed when conducting business from home	NA_AA	4	884	Tue Jun 28 21:16 2016 by NA_AA
	Vat - claim (Preview) Hi Is there any difference in reclaim vat for sole traders and ltd companies for pre vat registration expenses	NA_AA	2	714	Tue Jun 28 16:19 2016 by NA_AA
	Recording Cashback transactions (Preview) Hi All, I have a client who offers cashback through debit cards when a product is purchased (over a certain amount) I record the cashback seperately but how do I net off on the PNL as I don't really want to record it as taxable income as in theory, the customer has had the cash back so no income has been recei...	Moeroe	7	3359	Tue Jun 28 16:05 2016 by Cheshire
	Travel agent - vat (Preview) Hi What is the best vat scheme for a home based travel agent?	NA_AA	2	888	Tue Jun 28 15:52 2016 by Meadowlands
	Sales Receipts via Paypal (and cr card) in Sage - posting in bulk? (Preview) Hello Wise People! Can I pick your brains please? I have picked up a one-off job helping a payroll client to enter a year of bank statement in to Sage 50 Accounts Professional. He takes a lot of sales receipts via paypal and credit/debit cards but has no way of retrospectively telling me who the receip...	Trojan1970	3	1071	Tue Jun 28 13:03 2016 by Cheshire
	Rules surrounding providing Warranties (Preview) Good Morning! one of my clients is a garage that sells cars, they offer a 6 month warranty which they have been using a warranty company for. The now want to bring the warranty back in house, how do we account for this. do We need a seperate bank account to hold the warranty payments and extended warra...	livvylongpants	1	703	Tue Jun 28 12:40 2016 by Cheshire
	VT transaction report (Preview) morning y'all can I get a full activity/transaction report from VT and how? Idiots guide pls. thanks	Cheshire	16	1527	Sun Jun 26 18:29 2016 by Cheshire
	Opening TB Adjustments (Preview) Hi I have been given the opening TB adjustments journal from the accountant for a client. On the adjustments, the last entry is P&L AC. How do I enter this on the journal as it covers several expense and income entries?	Sammy76	41	1708	Fri Jun 24 11:17 2016 by Sammy76
	Need some urgent advice re a journal in SageOne (Preview) I stupidly posted all of my expenses to a single nominal code and had the Standard VAT on, so this is how the audit looks: Bank CR 336.79 Expenses Debit 280.66 VAT Debit 56.13 Above was reconciled w/ VAT and the Bank months ago. My accountant quite correctly wants me to split...	LesleyAnne	14	2016	Fri Jun 24 09:34 2016 by LesleyAnne
	Construction Industry (Preview) Hi Everyone! Hope you're all having a lovely day! Can anyone recommend any reading material on the ins and outs of bookkeeping in the construction industry? The company I work for are verging into this area more and more and while I have a basic understanding its always better to know more! Also my bo...	cjwbooks	6	941	Thu Jun 23 14:07 2016 by Cheshire
	Journal Entry Help (Preview) Hi, Hoping someone can help!! We had a supplier come and visit us and he spilt his drink over a computer which we had to replace as it completely buggered it! The supplier has given us a cheque to cover the cost of the new computer which i have banked but i have no idea how to account for it? Any ideas? Than...	dgts2012	7	1515	Thu Jun 23 14:05 2016 by Cheshire
	Journal Entry Help (Preview) deleting -- Edited by dgts2012 on Thursday 23rd of June 2016 12:22:16 PM	dgts2012	4	786	Thu Jun 23 12:43 2016 by Cheshire
	Started new job (Preview) After many years at a company I took the leap for a new job with a more attractive package. I studied IAB manual bookkeeping and up to AAT level 3. The girl who worked in the position before me left three weeks before I started so have entered the office to a pile of paperwork and have no one to tell me how thin...	KB2016	15	1189	Fri Jun 17 11:32 2016 by Meadowlands
	Good to be back (Preview) Great to see the forum back after server probs today. Well done to those working in the background to sort whatever it was, which I'm assuming is just Shaun, eapecially knowing how bombed with your own work you have been. I was at a clients who had a three hour power outage today so must be something in t...	Cheshire	18	1140	Thu Jun 16 23:43 2016 by Leger
	COA (Preview) Evening, Upon checking my COA. i have an error for the following: Nominal Code xxxx not represented in the chart. The nominal code set up is the loan account that was set up in the bank module as i use it to pay off supplier invoices if paid for by another company. Should i be creating the loan account nomin...	Nikole	13	960	Thu Jun 16 21:51 2016 by Cheshire
	Entry on ledger (Preview) Hi can anyone help to allocate the Entry when builder buy a drill or any power tools will be count as an assets or expense ? Thanks Minaxi	pbr	4	881	Thu Jun 16 19:40 2016 by Cheshire
	Recharging expenses - VAT? (Preview) I thought that if, say, you bought milk for a premises and shared it with sub-tenants/other tenants and agreed to charge a nominal sum each month (or bought milk to cater for an event), there would have to be VAT included on this recharge invoice.....even though the milk was 0% VAT when originally boug...	Count1314	1	1073	Mon Jun 13 17:40 2016 by Stardoe
	VAT Discount (Preview) Hi. Is this reasonable? Company issued a VAT invoice with the full value of transaction, plus VAT. Customer takes up on the offer of a discount - is it reasonable to issue a credit note against the original invoice for the difference? If not, I'm assuming manual journals Thanks	abacus12345	9	967	Sun Jun 12 11:45 2016 by abacus12345
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