General Book-keeping & Accounting - The Book-keepers Forum

Ridesy · Ridesy

Hi All, Not asked questions in a while, but need to ask about posting figures related to a Business Bank Loan? The bank in question - Barclays has set up a new loan for us and sent through details as a new "loan account", so was just questioning myself on whether we should set up a new bank accoun...

Accountingnewby · Accountingnewby

Hello All, My son, who was born, has lived and worked, all his life in England, has decided to live and work abroad for a while. He finishes his job in UK July and plans to move to Spain in August. He plans to rent out his UK property while he is abroad. I believe that he will be taxed in Spain on his Spanish inc...

Linx · Linx

I am having a little difficulty reconciling online sales. I have a monthly sales report showing a total of sales for each day. This will be all sales and not just paypal. I then have a similar report for the paypal sales. Each day's sales are entered into a holding a/c spilit by sales/shipping. Wh...

Beverley · Beverley

Hello all can anybody please tell me why accountants put adjustments through the sales tax/purchase tax/vat control accounts, it wouldn't be so bad off the debit & credit marry up, but to put through a credit adjustment on all three accounts just doesn't make sense to me!! And the adjustment t...

Cheshire · Cheshire

Hi I look after a new company that is part of a larger Franchise. The Franchisor insists that the Franchisee spends c£2000 a month on Advertising - they say that this is just a general admin expense, but should it really be listed as a Direct Cost of Sale? Your views would be appreciated. Thanks Ches

Soar · Soar

This is part of an ACCA F3 question I'm confused about, what would you answer and why?I'll give the full question and answer later. ..so is the following statement correct or not?"If certain criteria are met, research expenditure must be recognised as an intangible asset."

linda19 · linda19

Hi , I need to change the Year end on sage, Sage is asking me to do a back up before i do this, but i am worried this cause any problems with the final figures.? Thanks Linda

Lyndsey · Lyndsey

Hi I was wondering when you are doing a persons tax return, would you include your fees in that years tax return or would you invoice and it would be included in the following year? Thanks Lyndsey

KevMc · KevMc

I'm quite new to bookkeeping (although I did AAT to intermediate level to learn some theory) & have took over from someone who'd been doing it for around 30 years. I'm just trying to stick to her systems as much as I can until I'm experienced enough to change it to suit. 1 of the things the old bookkeep...

Princess · Princess

Just a quick one. I have a director client that travels a lot as part of his work. He's buys AT&T cards to use whilst he's in USA. Would you put these under telephone or travel? He and I disagree and I'd like a few more opinions. Thanks

Michellegray · Michellegray

Help needed please. As a sole trader doing business miles of1st Rate Per Mile (10000) £0.452nd rate after (10000 £0.25For Period 01/08/12 to 04/04/12Total Mileage 8899.31Total Claimed £4,004.69 Firstly is this the correct calulation and secondly how do I enter this in sage. Is it a simple Jn...

Cheshire · Cheshire

Hello Folks I have a Business rates bill for £ 2086.91 for 1 April 13 - 31 March 2014 and my customers year end is Sep 2013 so easy calculation is that 6 months of this bill is paid in advance ie £1043.46 (or £176.91pm). But bills are always paid over 10 months so repayments are set at 1x £196.91, then 9 x £210...

Adrian99 · Adrian99

Hello !I would like to make sure that I am doing the right thing, so I would like to inquire about the steps on completing a tax return for a sole trader courier:1. Attach the receipts to the bank statements as proof of income and expenditure2. Calculate the sales figure for the year3. Calculate the tota...

Michellegray · Michellegray

Hello. Any advice and help would be great please. I bought shampoo to resell in my grooming parlour £17.99 for 6 bottles and posted the £17.99 to Nom code 5004. I set up an income code in the 4000 for income relating to this to keep it separate. I decided to charge £5.50 a bottle I have sold 3 bottles and n...

MichaelWGroves · MichaelWGroves

I read the blog below with interest, but I'm uncertain how this affects me as a landlord, could someone please elaborate. My properties are unfurnished so I can't claim 10% wear and tear allowance , so if I were to put a new bathroom suite in on a like for like bases I claim the full amount, how does this ch...

Michellegray · Michellegray

I have I dilemma. Yell insurance of £144 from Jan 13 to Dec 13 (x 12 months) Its paid in 10 Installments starting in Jan @ £14.40 (Jan to Oct) so equiv monthly payment of £12 x 12months at the Y/E 3 payments should have been made totaling £36 leaving a remainder of £108 for next years accounts What had be...

blueeyes · blueeyes

Hi, I have a client who uses a cashback card for utilities. How do i account for the cashback they receive? Is it an income?

Josie-Angel · Josie-Angel

One of my supplier accounts shows a balance in the "older" column, but I am not sure if there is a quick way to find out which invoices it applies to. As far as we are concerned we should not have nothing in the older column as it is mostly a cash account! I took over from predecessor who has left th...

Adrian99 · Adrian99

Hello ! I would like to ask the following: 1. I have started ACCA a couple of months ago, due to regulation 8 I am not allowed to do tax return but I am doing tax return online from 2010 for my self employed courier business. Should I quit ACCA immediately ? 2. AAT asks for 1 year experience, my experience...

FoxAccountancyServices · FoxAccountancyServices

http://late-payment-law.co.uk/calculator.html Perfect for calculating late payment fees and interest!

Topic		Started By	Replies	Views	Last Post
	Business Bank Loan - liability or bank account? (Preview) Hi All, Not asked questions in a while, but need to ask about posting figures related to a Business Bank Loan? The bank in question - Barclays has set up a new loan for us and sent through details as a new "loan account", so was just questioning myself on whether we should set up a new bank accoun...	Ridesy	3	59	Tue May 21 12:21 2013 by Shamus
	How is uk property income taxed for owners living abroad? (Preview) Hello All, My son, who was born, has lived and worked, all his life in England, has decided to live and work abroad for a while. He finishes his job in UK July and plans to move to Spain in August. He plans to rent out his UK property while he is abroad. I believe that he will be taxed in Spain on his Spanish inc...	Accountingnewby	7	218	Mon May 20 16:09 2013 by Accountingnewby
	Reconciling PayPal payments (Preview) I am having a little difficulty reconciling online sales. I have a monthly sales report showing a total of sales for each day. This will be all sales and not just paypal. I then have a similar report for the paypal sales. Each day's sales are entered into a holding a/c spilit by sales/shipping. Wh...	Linx	4	116	Mon May 20 13:24 2013 by Linx
	VAT adj (Preview) Hello all can anybody please tell me why accountants put adjustments through the sales tax/purchase tax/vat control accounts, it wouldn't be so bad off the debit & credit marry up, but to put through a credit adjustment on all three accounts just doesn't make sense to me!! And the adjustment t...	Beverley	11	204	Sun May 19 20:12 2013 by Beverley
	What nominal code? Is it a Direct cost or an Expense (Preview) Hi I look after a new company that is part of a larger Franchise. The Franchisor insists that the Franchisee spends c£2000 a month on Advertising - they say that this is just a general admin expense, but should it really be listed as a Direct Cost of Sale? Your views would be appreciated. Thanks Ches	Cheshire	16	180	Sun May 19 19:46 2013 by Cheshire
	Research expenditure. (Preview) This is part of an ACCA F3 question I'm confused about, what would you answer and why?I'll give the full question and answer later. ..so is the following statement correct or not?"If certain criteria are met, research expenditure must be recognised as an intangible asset."	Soar	4	103	Sun May 19 13:45 2013 by Soar
	Year End Change (Preview) Hi , I need to change the Year end on sage, Sage is asking me to do a back up before i do this, but i am worried this cause any problems with the final figures.? Thanks Linda	linda19	5	101	Fri May 17 09:09 2013 by linda19
	Accounting fees on tax return (Preview) Hi I was wondering when you are doing a persons tax return, would you include your fees in that years tax return or would you invoice and it would be included in the following year? Thanks Lyndsey	Lyndsey	8	167	Thu May 16 21:53 2013 by MarkS
	Different coloured folders for different tax years (Preview) I'm quite new to bookkeeping (although I did AAT to intermediate level to learn some theory) & have took over from someone who'd been doing it for around 30 years. I'm just trying to stick to her systems as much as I can until I'm experienced enough to change it to suit. 1 of the things the old bookkeep...	KevMc	4	168	Thu May 16 17:56 2013 by Stardoe
	telephone use abroad (Preview) Just a quick one. I have a director client that travels a lot as part of his work. He's buys AT&T cards to use whilst he's in USA. Would you put these under telephone or travel? He and I disagree and I'd like a few more opinions. Thanks	Princess	1	67	Thu May 16 17:01 2013 by FoxAccountancyServices
	Mileage allownace and sage (Preview) Help needed please. As a sole trader doing business miles of1st Rate Per Mile (10000) £0.452nd rate after (10000 £0.25For Period 01/08/12 to 04/04/12Total Mileage 8899.31Total Claimed £4,004.69 Firstly is this the correct calulation and secondly how do I enter this in sage. Is it a simple Jn...	Michellegray	1	92	Thu May 16 12:06 2013 by Robert Pearce
	Prepayments - how? (Preview) Hello Folks I have a Business rates bill for £ 2086.91 for 1 April 13 - 31 March 2014 and my customers year end is Sep 2013 so easy calculation is that 6 months of this bill is paid in advance ie £1043.46 (or £176.91pm). But bills are always paid over 10 months so repayments are set at 1x £196.91, then 9 x £210...	Cheshire	18	208	Wed May 15 19:07 2013 by FoxAccountancyServices
	Steps on completing a tax return for self employed courier. Please help if you can. :) (Preview) Hello !I would like to make sure that I am doing the right thing, so I would like to inquire about the steps on completing a tax return for a sole trader courier:1. Attach the receipts to the bank statements as proof of income and expenditure2. Calculate the sales figure for the year3. Calculate the tota...	Adrian99	7	180	Wed May 15 11:24 2013 by Adrian99
	Items bought for resale - Sage (Preview) Hello. Any advice and help would be great please. I bought shampoo to resell in my grooming parlour £17.99 for 6 bottles and posted the £17.99 to Nom code 5004. I set up an income code in the 4000 for income relating to this to keep it separate. I decided to charge £5.50 a bottle I have sold 3 bottles and n...	Michellegray	4	93	Wed May 15 10:44 2013 by Beverley
	Rental Properties – Removal of renewals basis (Preview) I read the blog below with interest, but I'm uncertain how this affects me as a landlord, could someone please elaborate. My properties are unfurnished so I can't claim 10% wear and tear allowance , so if I were to put a new bathroom suite in on a like for like bases I claim the full amount, how does this ch...	MichaelWGroves	9	180	Wed May 15 10:28 2013 by MichaelWGroves
	What is the correct movement for Year End (Preview) I have I dilemma. Yell insurance of £144 from Jan 13 to Dec 13 (x 12 months) Its paid in 10 Installments starting in Jan @ £14.40 (Jan to Oct) so equiv monthly payment of £12 x 12months at the Y/E 3 payments should have been made totaling £36 leaving a remainder of £108 for next years accounts What had be...	Michellegray	9	102	Wed May 15 01:23 2013 by FoxAccountancyServices
	Accounting for Cashback received (Preview) Hi, I have a client who uses a cashback card for utilities. How do i account for the cashback they receive? Is it an income?	blueeyes	6	121	Wed May 15 00:47 2013 by FoxAccountancyServices
	Creditors analysis (Preview) One of my supplier accounts shows a balance in the "older" column, but I am not sure if there is a quick way to find out which invoices it applies to. As far as we are concerned we should not have nothing in the older column as it is mostly a cash account! I took over from predecessor who has left th...	Josie-Angel	6	129	Tue May 14 16:41 2013 by Josie-Angel
	Should I resign ACCA if I have done my own tax return ? Am I fit for MAAT? (Preview) Hello ! I would like to ask the following: 1. I have started ACCA a couple of months ago, due to regulation 8 I am not allowed to do tax return but I am doing tax return online from 2010 for my self employed courier business. Should I quit ACCA immediately ? 2. AAT asks for 1 year experience, my experience...	Adrian99	15	230	Mon May 13 13:47 2013 by Adrian99
	Useful website for those of us with late payers.... (Preview) http://late-payment-law.co.uk/calculator.html Perfect for calculating late payment fees and interest!	FoxAccountancyServices	5	191	Fri May 10 17:06 2013 by FoxAccountancyServices
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