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Post Info TOPIC: Regulatory Body Charges
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Regulatory Body Charges
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Hi,

I am a new user and would like some advice regarding the following.  With regard to the new Gas Safe Register regulations any boilers installed have to be registered with them at a charge of £2.50.  How should I show this charge within my accounts (i use sage instant accounts)



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semsley


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You could either charge them under Professional Fees which is in the range 7600 (which would be an expense in the P & L) or under the 5000 range which would put them as a direct cost out of gross profit/loss.

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Advice from beyond the grave!!!

E&OE
BackOfficeGroup


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is this a one off from the installation of a new boiler or is it something that you do as a profession?

if a one off, then I would put the cost in with the boiler purchase and installation costs, however, if it is part of your business, then I would put it as a cost of sale with the boiler purchase cost (not the same nominal code though).

P

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Flex Accounting Services


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I would agree with P. you should set up a nominal within the cost of sales.


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Beverley Flanagan MICB, CB Dip, PM Dip.
info@flexaccounting.co.uk
www.flexaccounting.co.uk
Novice


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Thank you for your advice, as suggested I will open a new nominal code (in the 5000's) as it is a payment that has to be made for every boiler installed it has to be registered

Thanks again

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