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

morgwick · morgwick

Am I correct in that expenses incurred before the formation of a company can be included in the companies accounts, going back up to 7 years? I am assuming that these expenses are such as website costs, professional fees, equipment etc. But what about travel expenses, e.g fuel or telephone/internet...

Sweetman Accounting · Sweetman Accounting

Morning all. I can see that this topic has been discussed a few years ago but wondered if anything had changed. As far as I can see it, as bookkeepers we do not need a data protection licence as we do not own the data (the client does) and therefore do not need to register. I completed the ICO online question...

kjmcculloch83 · kjmcculloch83

My heads pickled with all these new terms I've been doing today. I can accept statement of comprehensive income and statement of financial position, but non current assets? Really? we really are becoming the 51st state.

rafapak · rafapak

hi guys I would like to ask you for help. It is embarassing to ask for easy stuff but anyway I decided to do it. Increase in sales returns is recorded on debit side of the account. Does it mean that sales returns are treated like some kind of expense and therefore increase in sales returns is recorded on de...

StuartAnder · StuartAnder

Hi I have a client who has to pay x% of the partnerships profit at the end of their FY. My question is is this tax deductible when calculations the partnership accounts? Or how would you deal with this? Thanks Stuart

Cheshire · Cheshire

Hi Ive had some year end adjustments to do from some Accountants who want them keying on 1st day of new financial year, which Ive done. But then I came unstuck! 1) Software warning came up ''Purchase aged balance disagrees with creditors control by £2965.03'' You can see from the adjustments given (b...

Cheshire · Cheshire

Hi Ive had some adjustments back from an accountant who wants me to key them on the first day of the next accounting year, which Ive done. Everything added up with the journals but now my Directors Bank account is wrong. Its only a small issue but its bugging me. It was £9.50 in credit at the end of the year a...

jaybag · jaybag

Morning all, ok, I have taken a new client on, and I think it may be a bit of a mare... They have one sole trader business, and another Ltd, as you can imagine things have been in/out of each account for various things that should have related to the other accounts. The Ltd company has registered for VAT in J...

marina · marina

Hi My Company has been bought out. The new owners now want more management info from Sage. I feel like a fish out of water as I have never been asked to provide that before. Does anyone know if I study for Sage Accreditation - will that equip me with the knowledge 'they' want. It will cost me about £ 350 or so,...

Jay3 · Jay3

Confused about interest. Whats the double entry for applying bank interest?? Dr Cash Bank Cr Income P&L ???? Why is interest shown in the equity part of the BS? Thanks, Jay

Nikola · Nikola

Hi, I am unable to decide what to charge out for payroll, as there seems to be so much variation on different forums. I don't want to do the work for nothing, or overcharge clients. What do other users charge for running payroll. Do you charge a set up fee or charge for year end. Thanks

seonaid barnes · seonaid barnes

I am having my very first meeting with my first client today he needs his self assessment submitting by 31st step this month I'm very nervous and not sure what I need to ask him or check any advice would be much appreciated thanks

not happy · not happy

Hi ..what a great site. I use Sage 50 accounts and my year end was July.I unfortunately moved a payment into the matched box,then later cancelled the item but did not move it back to unmatched.Then finger happy me pressed reconcile which has made the bank different to the TB. How can I get it to come right...

Sammy · Sammy

Such a basic question, but it has been years since my bookkeeping training, so thanks in advance for advice

When entering payments for packaging supplies, do I post a payment 1) from bank account to expenses>packaging or 2) from bank account to suppliers>"packanging company&quo...

Katelouc · Katelouc

Hi everyone, new here and feeling like I need a bit of support at the moment. i have two clients at the moment as I'm part time and just starting up. I find my first client so straightforward, I enjoy the work and feel satisfied and confident. I'm in a good rhythm and flow with the workload. I'm really strug...

Jay3 · Jay3

Hi, I'm confused in part by accounting and in part due to the logic of the software Im using (Solar Accounts - if anyone has ever heard of it). Basically I did the book for a hair dresser last year and this year I need to take the BS value up to the Opening Balance of the 'Capital Account As At 2014' this bala...

giovanni · giovanni

Hi all! I have a tricky situation with a local builders merchants and Im not sure the best way to go about entering it into Sage. Basically we have 3 different scenarios. 1/The customer orders goods from the merchants through our account (its a trade only so it must go through an account), pays for it d...

kinggareth · kinggareth

Morning all, I've received a cheque this morning from the liquidators of a company that went insolvent in 2006. The debtor balance was written off in 2006 and I would like to know how to treat this receipt with respect to the P&L, BS and VAT treatment. To further confuse matters, the claim put in to t...

Nikola · Nikola

Hiya, I am currently in the process of setting up my beloved bookkeeping business and would like to know your thoughts on bookkeeping and payroll software. In my previous job i used Sage 50 and Sage payroll so i have no experience of any other software (i am willing to learn) Can i please have recommenda...

lizg78 · lizg78

Morning! I've decided the move one of my clients from Sage Payroll to the HMRC Basics PAYE program (they only have 4 employees and Sage seems a little pointless for the costs involved!). My question is, how do I go about putting the year to date figures on to the HMRC program? Is it a case of entering mont...

Topic		Started By	Replies	Views	Last Post
	Reclaiming Expenses prior to company formation (Preview) Am I correct in that expenses incurred before the formation of a company can be included in the companies accounts, going back up to 7 years? I am assuming that these expenses are such as website costs, professional fees, equipment etc. But what about travel expenses, e.g fuel or telephone/internet...	morgwick	9	1106	Thu Sep 25 13:13 2014 by Shamus
	Data Protection (Preview) Morning all. I can see that this topic has been discussed a few years ago but wondered if anything had changed. As far as I can see it, as bookkeepers we do not need a data protection licence as we do not own the data (the client does) and therefore do not need to register. I completed the ICO online question...	Sweetman Accounting	15	2537	Wed Sep 24 15:49 2014 by RedTapeDoc
	New Terms (Preview) My heads pickled with all these new terms I've been doing today. I can accept statement of comprehensive income and statement of financial position, but non current assets? Really? we really are becoming the 51st state.	kjmcculloch83	2	995	Wed Sep 24 01:08 2014 by kjmcculloch83
	sales returns (Preview) hi guys I would like to ask you for help. It is embarassing to ask for easy stuff but anyway I decided to do it. Increase in sales returns is recorded on debit side of the account. Does it mean that sales returns are treated like some kind of expense and therefore increase in sales returns is recorded on de...	rafapak	9	1408	Tue Sep 23 22:26 2014 by Shamus
	% of profit payable to a welfare fund (Preview) Hi I have a client who has to pay x% of the partnerships profit at the end of their FY. My question is is this tax deductible when calculations the partnership accounts? Or how would you deal with this? Thanks Stuart	StuartAnder	4	790	Tue Sep 23 13:12 2014 by StuartAnder
	Year end adjustments - query (Preview) Hi Ive had some year end adjustments to do from some Accountants who want them keying on 1st day of new financial year, which Ive done. But then I came unstuck! 1) Software warning came up ''Purchase aged balance disagrees with creditors control by £2965.03'' You can see from the adjustments given (b...	Cheshire	4	801	Mon Sep 22 17:17 2014 by Cheshire
	Year end adjustments (Preview) Hi Ive had some adjustments back from an accountant who wants me to key them on the first day of the next accounting year, which Ive done. Everything added up with the journals but now my Directors Bank account is wrong. Its only a small issue but its bugging me. It was £9.50 in credit at the end of the year a...	Cheshire	2	752	Mon Sep 22 09:38 2014 by Cheshire
	New client (Preview) Morning all, ok, I have taken a new client on, and I think it may be a bit of a mare... They have one sole trader business, and another Ltd, as you can imagine things have been in/out of each account for various things that should have related to the other accounts. The Ltd company has registered for VAT in J...	jaybag	5	958	Sun Sep 21 20:11 2014 by jaybag
	New Job New responsibilities Should I get Sage Accreditation (Preview) Hi My Company has been bought out. The new owners now want more management info from Sage. I feel like a fish out of water as I have never been asked to provide that before. Does anyone know if I study for Sage Accreditation - will that equip me with the knowledge 'they' want. It will cost me about £ 350 or so,...	marina	7	1016	Sun Sep 21 17:09 2014 by MarkS
	Bank Interest - Basic Question (Preview) Confused about interest. Whats the double entry for applying bank interest?? Dr Cash Bank Cr Income P&L ???? Why is interest shown in the equity part of the BS? Thanks, Jay	Jay3	2	762	Sun Sep 21 08:42 2014 by Jay3
	Charging out payroll (Preview) Hi, I am unable to decide what to charge out for payroll, as there seems to be so much variation on different forums. I don't want to do the work for nothing, or overcharge clients. What do other users charge for running payroll. Do you charge a set up fee or charge for year end. Thanks	Nikola	6	1055	Sat Sep 20 08:22 2014 by Nikola
	First client meeting today need advice (Preview) I am having my very first meeting with my first client today he needs his self assessment submitting by 31st step this month I'm very nervous and not sure what I need to ask him or check any advice would be much appreciated thanks	seonaid barnes	4	1170	Fri Sep 19 23:22 2014 by Cheshire
	Unreconcile deleted item (Preview) Hi ..what a great site. I use Sage 50 accounts and my year end was July.I unfortunately moved a payment into the matched box,then later cancelled the item but did not move it back to unmatched.Then finger happy me pressed reconcile which has made the bank different to the TB. How can I get it to come right...	not happy	5	1011	Fri Sep 19 23:12 2014 by Cheshire
	Basic Question (Preview) Such a basic question, but it has been years since my bookkeeping training, so thanks in advance for advice When entering payments for packaging supplies, do I post a payment 1) from bank account to expenses>packaging or 2) from bank account to suppliers>"packanging company&quo...	Sammy	17	1507	Fri Sep 19 23:10 2014 by Cheshire
	Advice on tricky client. (Preview) Hi everyone, new here and feeling like I need a bit of support at the moment. i have two clients at the moment as I'm part time and just starting up. I find my first client so straightforward, I enjoy the work and feel satisfied and confident. I'm in a good rhythm and flow with the workload. I'm really strug...	Katelouc	5	1184	Fri Sep 19 22:59 2014 by Cheshire
	Balance Sheet Question - Capital Accounts (Preview) Hi, I'm confused in part by accounting and in part due to the logic of the software Im using (Solar Accounts - if anyone has ever heard of it). Basically I did the book for a hair dresser last year and this year I need to take the BS value up to the Opening Balance of the 'Capital Account As At 2014' this bala...	Jay3	0	632	Fri Sep 19 19:49 2014 by Jay3
	Accounting for a Suppliers account that customers sometimes pay into! (Preview) Hi all! I have a tricky situation with a local builders merchants and Im not sure the best way to go about entering it into Sage. Basically we have 3 different scenarios. 1/The customer orders goods from the merchants through our account (its a trade only so it must go through an account), pays for it d...	giovanni	2	779	Tue Sep 16 23:11 2014 by giovanni
	Receipt from Liquidators (Preview) Morning all, I've received a cheque this morning from the liquidators of a company that went insolvent in 2006. The debtor balance was written off in 2006 and I would like to know how to treat this receipt with respect to the P&L, BS and VAT treatment. To further confuse matters, the claim put in to t...	kinggareth	1	888	Tue Sep 16 11:59 2014 by RobH
	Which software to purchase please (Preview) Hiya, I am currently in the process of setting up my beloved bookkeeping business and would like to know your thoughts on bookkeeping and payroll software. In my previous job i used Sage 50 and Sage payroll so i have no experience of any other software (i am willing to learn) Can i please have recommenda...	Nikola	17	1282	Mon Sep 15 10:34 2014 by Nikola
	Changing from Sage Payroll to HMRC Basics (Preview) Morning! I've decided the move one of my clients from Sage Payroll to the HMRC Basics PAYE program (they only have 4 employees and Sage seems a little pointless for the costs involved!). My question is, how do I go about putting the year to date figures on to the HMRC program? Is it a case of entering mont...	lizg78	3	814	Sat Sep 13 17:18 2014 by Cheshire
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