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

sjl1974 · sjl1974

Any advice on this would be appreciated. I have a client who runs 2 separate companies, one is VAT registered and the other isn't. He receives a couple of supplier invoices that relate to both companies, i.e. the premises rent invoice needs to be split between the 2 companies, his phone invoice, insu...

Ace_Huss · Ace_Huss

We made a foreign currency payment from Silicon Valley Bank for a USD invoice which bounced back a week later however the amount returned to the account is lower than the original payment due to FX difference. I'm unsure on how to treat the two transactions on the bank ledger in Xero as the credit and deb...

phil_books · phil_books

Can anyone recommend some decent book keeping podcasts? I've enjoyed listening to them generally lately to drown out the noise of the kids when working from home but figured instead of listening to comedy I could educate myself on work related stuff.

Louise2022 · Louise2022

Hi All, I have been with my current employer for 20 years, and ACCA qualified. I've been wanting to set up on my own for quite some time now. I need to apply for an ACCA practicing certificate before I can go any further. My concern is I don't want to give up my job until I am in a strong position in my new ventur...

DoreenL1 · DoreenL1

Non director has bought fuel for his company vehicle and has lost the receipt. I can't claim VAT as no receipt so what tax code do I use T9 or T0?

AnnAH23 · AnnAH23

Hi, my first post! Does anyone use sage and have sale or return items? Struggling to get my head around how to process! The Co is VAT registered, but the suppliers of the items on SoR are not. Previously, the company has accounted for VAT on the full sales price of the item, however i'm thinking they shoul...

Ziambe · Ziambe

Hello all! I hope its ok to start with a question :) Most likely its a very simple issue, but any help would nevertheless be really welcome. My question involves the following: My flatmates and I would like to share all of our utility costs equally. I pay all of the bills except for internet which is paid b...

Noddy1985 · Noddy1985

Hello I use VT+ for my business. I want to ask what is the best way to record and manage an employee's interest free loan? The loan will be repaid by monthly instalments from deductions from the salary. So, it would be good to have suggestions to how I can modify the payroll journal to a keep a record of the l...

helen19893355 · helen19893355

Hi we have an very old bank account which we can no longer use or have access to. There is a small amount of cash in it. I need to write this off in the balance sheet. Question where does the other side of the entry go to in the P/L. Thanks

Davina · Davina

Hi, director paid for equipment before company started, entering those onto Sage and recording a credit note as invoice paid by director, however the credit note does not include the VAT amount so makes his balance less?? Any suggestions

onlinebookkeeper · onlinebookkeeper

hii...i am new in this book-keeping feild..tell me good book-keeping and accounting related books on internet...by which i can learn new things... thanx and regards,

Caspar · Caspar

Hi I wonder if anyone knows the entries for this transaction as I haven't done one of these before: Other Investment B/S (valued at £20,000 in the accounts) Sold for £8,000 to a related party (a valuation was done on the day of sale and it was shown to be now only worth this lower figure, due to the downturn...

Keelbolt · Keelbolt

I'm new to doing the accounts for a Country Rock Band. There are very few accounts, and it should be quite simple. I've just issued an invoice that is due for payment in July 22. As I'm using double entry, I have credited the Trade Debtors account with the invoice amount because they owe the band, and d...

new start up · new start up

Is this allowed? Say I run a limited company and my rent and lease of the property is in my personal name and I put the invoices though the books as that. Will the accountant who finalizes the books at the end of the year; will the inland revenue as well except this? Thanks

Elaine105 · Elaine105

Hi I have a client who banks with the NatWest and they would like to import the suppliers batch payments from Xero to their NatWest Portal for payment. However, I've found that the NatWest requires a .text document for the import and Xero only exports the date either by csv or BACS file, so these are no...

blueeyes · blueeyes

Hi, I have a client who has raised an invoice and put both the mileage and recharge of parking expenses as materials, therefore not had the deduction made. I just want to confirm both are within the scope of CIS before I say something. TIA

RayRay · RayRay

I'm doing one of those lovely catch-up jobs and there are several receipts which include CIS deductions. I've set the account (xero) up for the new CIS with reverse charge VAT. How do I reconcile these earlier transactions (I have invoice total and CIS deducted figure). Should I create a separat...

Buzzer1975 · Buzzer1975

Hi all, I manage the books for a car garage. We outsource our mots to a garage up the road and then charge the customer. My question is which nominal code would I use. would it be a direct expense or purchase. much appreciated Helen

nadimgaye12 · nadimgaye12

I am in the process of setting up new accounts using sage cloud. The previous accounts were done by another accountant upto 2021. The small business has been paying off a loan. The old accountant used his own software so we now need to setup accounting using the new sage cloud. Can any one tell me how to en...

Harry_GWBI · Harry_GWBI

I stumbled across this fun website, it's a non-existent beverage designed specifically for people who work with spreadsheets... Hopefully, it will offer some light relief to your busy day. https://bizmax.energy/excelr8-business-beverage/

Topic		Started By	Replies	Views	Last Post
	1 supplier invoice needs to be split between 2 companies (Preview) Any advice on this would be appreciated. I have a client who runs 2 separate companies, one is VAT registered and the other isn't. He receives a couple of supplier invoices that relate to both companies, i.e. the premises rent invoice needs to be split between the 2 companies, his phone invoice, insu...	sjl1974	2	1539	Wed Aug 24 09:32 2022 by HelenF02
	Treatment of difference in foreign currency payment bounce back (Preview) We made a foreign currency payment from Silicon Valley Bank for a USD invoice which bounced back a week later however the amount returned to the account is lower than the original payment due to FX difference. I'm unsure on how to treat the two transactions on the bank ledger in Xero as the credit and deb...	Ace_Huss	2	1598	Sat Aug 20 01:22 2022 by Dos Master
	Podcasts (Preview) Can anyone recommend some decent book keeping podcasts? I've enjoyed listening to them generally lately to drown out the noise of the kids when working from home but figured instead of listening to comedy I could educate myself on work related stuff.	phil_books	2	1631	Tue Aug 9 14:16 2022 by phil_books
	ACCA Practicing Certificate acca practicing certificate new business (Preview) Hi All, I have been with my current employer for 20 years, and ACCA qualified. I've been wanting to set up on my own for quite some time now. I need to apply for an ACCA practicing certificate before I can go any further. My concern is I don't want to give up my job until I am in a strong position in my new ventur...	Louise2022	2	2177	Sun Aug 7 13:56 2022 by Louise2022
	What SAGE tax code to use (Preview) Non director has bought fuel for his company vehicle and has lost the receipt. I can't claim VAT as no receipt so what tax code do I use T9 or T0?	DoreenL1	2	1744	Thu Jul 21 08:55 2022 by The Sage Lady
	Sage - Sale or Return (Preview) Hi, my first post! Does anyone use sage and have sale or return items? Struggling to get my head around how to process! The Co is VAT registered, but the suppliers of the items on SoR are not. Previously, the company has accounted for VAT on the full sales price of the item, however i'm thinking they shoul...	AnnAH23	1	1557	Thu Jul 21 08:51 2022 by The Sage Lady
	Looking for help splitting household costs (Preview) Hello all! I hope its ok to start with a question :) Most likely its a very simple issue, but any help would nevertheless be really welcome. My question involves the following: My flatmates and I would like to share all of our utility costs equally. I pay all of the bills except for internet which is paid b...	Ziambe	2	1362	Sat Jul 2 12:41 2022 by Ziambe
	Employee loan (Preview) Hello I use VT+ for my business. I want to ask what is the best way to record and manage an employee's interest free loan? The loan will be repaid by monthly instalments from deductions from the salary. So, it would be good to have suggestions to how I can modify the payroll journal to a keep a record of the l...	Noddy1985	1	1423	Thu Jun 23 21:04 2022 by Leger
	Write off of inaccessible bank account (Preview) Hi we have an very old bank account which we can no longer use or have access to. There is a small amount of cash in it. I need to write this off in the balance sheet. Question where does the other side of the entry go to in the P/L. Thanks	helen19893355	2	1555	Sat Jun 18 23:50 2022 by helen19893355
	Credit note to directors loan does not include tax on directors loan nominal (Preview) Hi, director paid for equipment before company started, entering those onto Sage and recording a credit note as invoice paid by director, however the credit note does not include the VAT amount so makes his balance less?? Any suggestions	Davina	5	1771	Wed Jun 15 13:08 2022 by HarryStottle
	book-keeping related books. (Preview) hii...i am new in this book-keeping feild..tell me good book-keeping and accounting related books on internet...by which i can learn new things... thanx and regards,	onlinebookkeeper	8	3225	Fri Jun 10 02:52 2022 by rynaluis
	Sale of Investment in Ltd Co and realised loss Double Entries (Preview) Hi I wonder if anyone knows the entries for this transaction as I haven't done one of these before: Other Investment B/S (valued at £20,000 in the accounts) Sold for £8,000 to a related party (a valuation was done on the day of sale and it was shown to be now only worth this lower figure, due to the downturn...	Caspar	0	1263	Thu May 19 16:04 2022 by Caspar
	Issuing an Invoice for future payment (Preview) I'm new to doing the accounts for a Country Rock Band. There are very few accounts, and it should be quite simple. I've just issued an invoice that is due for payment in July 22. As I'm using double entry, I have credited the Trade Debtors account with the invoice amount because they owe the band, and d...	Keelbolt	2	1485	Sun May 8 12:10 2022 by Leger
	Limited company putting invoices though books on personal name (Preview) Is this allowed? Say I run a limited company and my rent and lease of the property is in my personal name and I put the invoices though the books as that. Will the accountant who finalizes the books at the end of the year; will the inland revenue as well except this? Thanks	new start up	2	1449	Wed Apr 27 18:32 2022 by new start up
	Xero Batch Supplier Payments & NatWest (Preview) Hi I have a client who banks with the NatWest and they would like to import the suppliers batch payments from Xero to their NatWest Portal for payment. However, I've found that the NatWest requires a .text document for the import and Xero only exports the date either by csv or BACS file, so these are no...	Elaine105	0	1331	Tue Apr 26 10:06 2022 by Elaine105
	Recharge of parking, is it within the scope of CIS? (Preview) Hi, I have a client who has raised an invoice and put both the mileage and recharge of parking expenses as materials, therefore not had the deduction made. I just want to confirm both are within the scope of CIS before I say something. TIA	blueeyes	2	1560	Tue Apr 19 19:15 2022 by Artois
	Entering CIS deducted for old 2020 receipts (Preview) I'm doing one of those lovely catch-up jobs and there are several receipts which include CIS deductions. I've set the account (xero) up for the new CIS with reverse charge VAT. How do I reconcile these earlier transactions (I have invoice total and CIS deducted figure). Should I create a separat...	RayRay	1	1449	Mon Apr 11 14:22 2022 by Leger
	Which Nominal Code (Preview) Hi all, I manage the books for a car garage. We outsource our mots to a garage up the road and then charge the customer. My question is which nominal code would I use. would it be a direct expense or purchase. much appreciated Helen	Buzzer1975	1	1382	Mon Apr 11 14:13 2022 by Leger
	Entering new sage cloud accounts (Preview) I am in the process of setting up new accounts using sage cloud. The previous accounts were done by another accountant upto 2021. The small business has been paying off a loan. The old accountant used his own software so we now need to setup accounting using the new sage cloud. Can any one tell me how to en...	nadimgaye12	1	1415	Wed Apr 6 11:55 2022 by Shamus
	Some light relief. This product does NOT exist, but maybe you wished it did. excel humour (Preview) I stumbled across this fun website, it's a non-existent beverage designed specifically for people who work with spreadsheets... Hopefully, it will offer some light relief to your busy day. https://bizmax.energy/excelr8-business-beverage/	Harry_GWBI	2	2143	Tue Mar 29 12:09 2022 by Shamus
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