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

geek84 · geek84

Good Morning Folks At long last I think I may have my first client !! The potential client runs a pet sitting service for home owners who are busy at work all day and also takes care of the pets in their home while the owners are on holiday etc. She wants to know a lot of information regarding claiming her e...

rafapak · rafapak

Hi guys I have 2 questions in relation to aat level 3 final accounts preparation. 1. They give you trial balance in an exercise. You are supposed to prepare income statement and balance sheet later. There is bank loan in trial balance. They don't tell you if this is long term or short term loan. Theref...

rafapak · rafapak

Hi guys When you watch youtube videos in relation to aat level 3 very often you hear that technique is very important during exams. How technique in accountancy and exams should be properly understood ? What people mean when they say that technique is important when you do exams ? Regards. Rafa

Awray · Awray

Hello, Hopefully a simple one! I've been happily using VT Transactions for work bookkeeping and now want to use it on my own home finances. They have a set of ledgers for this but I've become stuck straight away! There is no creditors- -opening balances in this set of ledgers so how do enter my starting f...

Cheshire · Cheshire

blueeyes · blueeyes

Hi all, If a rental property income is £3k (£6k shared between husband and wife) and expenses are £515 (Again this been 50% of the £1030) can the property income allowance of £1000 be used instead of the £515 expenses? TIA

Eduhouse · Eduhouse

I have a limited company registered in the UK. Recently, we plan to do some business with Indian freelancers. Is it ok to accept an invoice from India? In India, a private person can also provide service and issue an invoice even if he does not have a company registered (with income up to 20 lakh yearly)...

Nikole · Nikole

I am now into my sixth year of being self employed and would like to wish all of my fellow members a, "Happy New Year" !. I have received some great advice from members over the past few years, and my goal for 2020 is to engage more in posts whether it be to offer advice or just have a general chat. Wishing you a...

Meganp · Meganp

Hello everyone, My first post, and in desperate need for advice & help, probably on a regular basis. I was doing a search for Mentors and was suggested this forum. Hopefully in the future I can contribute when I am a bit more experienced. I have ICB Level 2 bookkeeping (which I studied a few y...

Ania · Ania

Can I please pick up your brain cos mine is going blank at the moment. cost of sales for company selling cleaning services: cleaning chemicals - cost of sales (COS) fuel(some machines operate on fuel) - COS cleaning supplies - COS small machine parts and small cleaning tools/machines- COS or expense...

Pickle · Pickle

Hi can anyone tell me please how to record the following in Sage. Subcontractor issues the following invoice Net 750 Vat 150 Gross 900 Contractor then pays him 750 and pays 150 to HMRC for CIS. I am sure this is simple and I am over complicating it but I have put the full invoice on his supplier account,...

rafapak · rafapak

Hi guys I would like to ask you for help. I have exercise where I should create extended trial balance. Please find enclosed screenshot below. I have some doubts in relation to whether a given item is the item of balance sheet or profit and loss. Please help me to clarify the following issues. 1. Is Cre...

Sheena · Sheena

Hello Thank you for your advice on my previous question. I am not sure how to treat discount vouchers for the restaurant I am working with. I have opened a Till bank account and have posted bank receipts (CR) to debit the bank and credit the sales n/c with the daily takings, when the cash & card hits t...

Rwatt123 · Rwatt123

sorry for the spam -- Edited by Rwatt123 on Tuesday 14th of January 2020 10:26:40 AM -- Edited by Rwatt123 on Tuesday 14th of January 2020 10:28:10 AM -- Edited by Rwatt123 on Tuesday 14th of January 2020 10:28:29 AM

grace44 · grace44

In simple words the bookkeeping is considered to be the recording of the financial transactions it is also considered to be as the process of accounting in business.The following transactions can include purchases, sales, receipts, and payments by an individual person or an organization/corp...

Samilou67 · Samilou67

Happy New Year everyone!! I have a client who was trading as a sole trader but has now set up a Ltd Company and is asking what the advantages would be to transfer the vehicle so that it is owned by the Company rather than himself. The vehicle is only used for delivering their products to clients. What would...

Cheshire · Cheshire

Merry Christmas everyone.

Sheena · Sheena

Hello My name is Sheena and I have started working for myself as a bookkeeper after passing AAT Level 3. I have recently taken on a new client who has bought over an existing Bar/Restaurant. I have been given Cash takings, expense receipts and the bank statement to process. One of the payments on the ban...

rafapak · rafapak

Hi guys there are accrued expenses that will not become tax expenses until they are paid there are accrued revenues that will not become tax revenues untill they are paid What accounts do you use to record expenses that are not tax expenses in current period but will become tax expenses in next period...

JUECOL · JUECOL

Hi, desperate for help. I have always pd to HMRC for MLR but now I only have a couple of small clients. I do their book keeping at their premises on their accountancy packages. I send in the VAT return form their log in. I give no financial advice and all their records then go to their own accountants. T...

Topic		Started By	Replies	Views	Last Post
	My first client - Pet Sitting Services (Preview) Good Morning Folks At long last I think I may have my first client !! The potential client runs a pet sitting service for home owners who are busy at work all day and also takes care of the pets in their home while the owners are on holiday etc. She wants to know a lot of information regarding claiming her e...	geek84	6	381	Tue Feb 4 08:13 2020 by Casu
	loans plus layouts- aat level 3 accounts preparation (Preview) Hi guys I have 2 questions in relation to aat level 3 final accounts preparation. 1. They give you trial balance in an exercise. You are supposed to prepare income statement and balance sheet later. There is bank loan in trial balance. They don't tell you if this is long term or short term loan. Theref...	rafapak	4	337	Mon Feb 3 15:09 2020 by rafapak
	technique in relation to accountancy and aat level 3 exams (Preview) Hi guys When you watch youtube videos in relation to aat level 3 very often you hear that technique is very important during exams. How technique in accountancy and exams should be properly understood ? What people mean when they say that technique is important when you do exams ? Regards. Rafa	rafapak	5	407	Sun Feb 2 16:03 2020 by rafapak
	VT Transactions Home Finances (Preview) Hello, Hopefully a simple one! I've been happily using VT Transactions for work bookkeeping and now want to use it on my own home finances. They have a set of ledgers for this but I've become stuck straight away! There is no creditors- -opening balances in this set of ledgers so how do enter my starting f...	Awray	16	809	Sun Feb 2 15:24 2020 by Awray
	HMRC is down!!!!!!!!!!!!!!!! In January!!!!!!!!!! (Preview)	Cheshire	19	1087	Thu Jan 23 18:57 2020 by Leger
	Property Income Allowance (Preview) Hi all, If a rental property income is £3k (£6k shared between husband and wife) and expenses are £515 (Again this been 50% of the £1030) can the property income allowance of £1000 be used instead of the £515 expenses? TIA	blueeyes	3	368	Thu Jan 23 09:16 2020 by Leger
	Invoice from India (Preview) I have a limited company registered in the UK. Recently, we plan to do some business with Indian freelancers. Is it ok to accept an invoice from India? In India, a private person can also provide service and issue an invoice even if he does not have a company registered (with income up to 20 lakh yearly)...	Eduhouse	3	458	Wed Jan 22 08:11 2020 by Cheshire
	Happy New Year (Preview) I am now into my sixth year of being self employed and would like to wish all of my fellow members a, "Happy New Year" !. I have received some great advice from members over the past few years, and my goal for 2020 is to engage more in posts whether it be to offer advice or just have a general chat. Wishing you a...	Nikole	13	1029	Thu Jan 16 16:27 2020 by Cheshire
	Help with Salaries, Quickbooks desktop (Preview) Hello everyone, My first post, and in desperate need for advice & help, probably on a regular basis. I was doing a search for Mentors and was suggested this forum. Hopefully in the future I can contribute when I am a bit more experienced. I have ICB Level 2 bookkeeping (which I studied a few y...	Meganp	10	636	Thu Jan 16 16:21 2020 by Cheshire
	cost of sales (Preview) Can I please pick up your brain cos mine is going blank at the moment. cost of sales for company selling cleaning services: cleaning chemicals - cost of sales (COS) fuel(some machines operate on fuel) - COS cleaning supplies - COS small machine parts and small cleaning tools/machines- COS or expense...	Ania	6	728	Thu Jan 16 09:53 2020 by Ania
	Recording CIS on Sage (Preview) Hi can anyone tell me please how to record the following in Sage. Subcontractor issues the following invoice Net 750 Vat 150 Gross 900 Contractor then pays him 750 and pays 150 to HMRC for CIS. I am sure this is simple and I am over complicating it but I have put the full invoice on his supplier account,...	Pickle	25	1061	Wed Jan 15 20:55 2020 by Amanda
	extended trial balance (Preview) Hi guys I would like to ask you for help. I have exercise where I should create extended trial balance. Please find enclosed screenshot below. I have some doubts in relation to whether a given item is the item of balance sheet or profit and loss. Please help me to clarify the following issues. 1. Is Cre...	rafapak	5	435	Wed Jan 15 16:25 2020 by rafapak
	Restaurant Discount Vouchers (Preview) Hello Thank you for your advice on my previous question. I am not sure how to treat discount vouchers for the restaurant I am working with. I have opened a Till bank account and have posted bank receipts (CR) to debit the bank and credit the sales n/c with the daily takings, when the cash & card hits t...	Sheena	3	413	Tue Jan 14 17:21 2020 by Cheshire
	Quick Recovery for EDB to PST (Preview) sorry for the spam -- Edited by Rwatt123 on Tuesday 14th of January 2020 10:26:40 AM -- Edited by Rwatt123 on Tuesday 14th of January 2020 10:28:10 AM -- Edited by Rwatt123 on Tuesday 14th of January 2020 10:28:29 AM	Rwatt123	0	207	Tue Jan 14 05:47 2020 by Rwatt123
	tax residency certificate uae (Preview) In simple words the bookkeeping is considered to be the recording of the financial transactions it is also considered to be as the process of accounting in business.The following transactions can include purchases, sales, receipts, and payments by an individual person or an organization/corp...	grace44	9	766	Sat Jan 11 16:26 2020 by Cheshire
	Transfer of a vehicle into Ltd Company (Preview) Happy New Year everyone!! I have a client who was trading as a sole trader but has now set up a Ltd Company and is asking what the advantages would be to transfer the vehicle so that it is owned by the Company rather than himself. The vehicle is only used for delivering their products to clients. What would...	Samilou67	6	478	Thu Jan 2 17:02 2020 by Samilou67
	.. (Preview) Merry Christmas everyone.	Cheshire	7	739	Tue Dec 31 07:25 2019 by Artois
	New Business - Fixed Assets (Preview) Hello My name is Sheena and I have started working for myself as a bookkeeper after passing AAT Level 3. I have recently taken on a new client who has bought over an existing Bar/Restaurant. I have been given Cash takings, expense receipts and the bank statement to process. One of the payments on the ban...	Sheena	5	545	Tue Dec 24 13:36 2019 by Cheshire
	using accounts to calculate taxes (Preview) Hi guys there are accrued expenses that will not become tax expenses until they are paid there are accrued revenues that will not become tax revenues untill they are paid What accounts do you use to record expenses that are not tax expenses in current period but will become tax expenses in next period...	rafapak	5	530	Thu Dec 19 09:36 2019 by rafapak
	MLR (Preview) Hi, desperate for help. I have always pd to HMRC for MLR but now I only have a couple of small clients. I do their book keeping at their premises on their accountancy packages. I send in the VAT return form their log in. I give no financial advice and all their records then go to their own accountants. T...	JUECOL	2	417	Tue Dec 3 15:31 2019 by Cheshire
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