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

Watson2012 · Watson2012

Hello me and my friend are struggling with the below.Supplier asked for sales invoice for full trade in amount of 19000. + vat posted to sale of assets account. Payment Outstanding.New vehicle purchased for 40000 + vatOld vehicle FA of 22000Depreciation 16000Finance balance of 11000The dealersh...

EmmaAlt · EmmaAlt

Hi all, I am registered with HMRC for AML supervision and have a Government Gateway ID for that. Years ago I was self-employed in a different industry but closed that business and thought no more of it. When I tried to register my bookkeeping business for self-assessment it was flagged up that I alrea...

HelenF02 · HelenF02

Hello. I was always taught, if a Director pays a tip on his allowable subsistence expenses that this tip is not allowable and I process that to DLA. What about Employees? First time this client has taken on employees, there is no expenses policy, told them but they just allow staff to do what they wan...

Caroling · Caroling

Please can somebody advise me, I am doing Sage for my furture son-in-law and he is a Dj and also play with a band, He quite often goes to recording studio's, but I cannot find anything related in the nominal codes. Driving me crazy!

MagsMols · MagsMols

Hi everyone, My name's Maggie, I'm AAT qualified and i've a got around 18 years experience in Purchase Ledger and treasury. I'm wondering if anyone would be able to give me a dummies guide to setting up to do some paid bookeeping and payroll on the side. I've been researching the steps I need to take...

Jpeterson85 · Jpeterson85

I have a query regarding business income for cashback on a VAT registered limited company registered in the UK. We recently opened up a PayPal Business Debit Mastercard and you receive 0.5% cashback on all purchases. We have a separate PayPal account for any business transactions and PayPal pay t...

Andye · Andye

Hi All I am a sole trader NOT VAT registered and run a small electrical repair business I bought a van 5 years and 8 months ago for £8400 (vat included) then sold it a month ago for £5000 in a private sale I then bought a new van on the same day for £16250 (vat included) Can someone clarify if I have to Pay Capit...

stephen72 · stephen72

Hi all , just after a bit of advice on how to deal with takings for a business that have been taken on another businesses card terminal. There are two businesses that operate from the same unit. In error one of the businesses transactions have been put through on the other businesses card terminal so t...

Roadrunner · Roadrunner

Hi After reading through few of the related the articles I've decided to kindly ask for the opinions. The customer no 1 is a SE baker working from home. Some refurbishment has been performed at two rooms at their house , living room has been converted to a kitchen / production floor. Would it be corr...

citygal5 · citygal5

Hi It seems that Xero only holds data from the last Financial year and the current one. Does anyone know if Xero has an archive ? If you need to look at your accounts records from say 4years ago - it does not seem possible. I am a bit worried that purchase invoices that I have embedded in Xero will disa...

AJones · AJones

I got the Cardnet report with service carges+fees; preparing the VAt but need to trace Cashbacks? Second, what's best method for bookkeeping via Quickbooks for off-licence stores? Do i have to use a clearing account to clearing Banking feeds? or try to post CardNet receipts directly to Sales, th...

Kinbuck · Kinbuck

Hi Everyone One of my sole-trader clients has passed away suddenly and the family will be passing me the records they can find to complete 20/21 which should be straightforward. My brain is now overthinking what to do with 21/22? Any guidance would be much appreciated. Thank you

Digdogs · Digdogs

All I know is that a) cant use capital allowances with cash accounting, b) cash accounting is based on when money is paid and accruals is invoice based, c) not supposed to change from one to the other, d) small companies often better with cash as it helps cash flow yes? Is there anything else to it and how s...

airamae · airamae

Please layout the different conditions in selling online, locally, & internationally from a UK-registered business and an Irish-registered business. Your reply should not be solely Brexit-focused (can be referenced) but rather cover VAT / month-end / year-end points that are different a...

CharlieChav · CharlieChav

Calling all barrack room lawyers. I have been a member of IAB for many years. I am retired and so am not in practice or employed. I recently received a demand from IAB to provide them with a current DBS check at my own expense, I replied telling them if they need one they should apply. I then came over all Vic...

Sheena · Sheena

Hi I haven't been on for a while and hope everyone is okay. I have a client who runs a small hotel, he is just opening up again and has decided to go Pet Friendly. Would Pet charges whilst staying in the Guest rooms be charged at the Lower VAT Rate 5% or would this be classified as Standard VAT. Many Thanks Sh...

KimmyG1984 · KimmyG1984

Hello, I am very new to this and appreciate any help so that I can enter my first salary journal for April wages and get it right

I have come stuck as we have a CIS suffered refund amount (1570.04) and an NIC EA REFUND amount (1501.63) - and it is just confusing the life out of me. GROSS - 17897.49 ERS NI -...

Melissa15 · Melissa15

Hello! I am a registered bookkeeper and have been approached by a CBS in my village to volunteer to carry out a lay audit to assure the administration and records relating to the sale of community shares. Can anyone tell me whether I can go ahead do this without breaking any AML rules? Thanks in advance...

outsourcingbookkeeping · outsourcingbookkeeping

I consider following benefits when outsource bookkeeping services. * Weekly and Monthly Profit and Loss Account and Balance Sheet * Monthly, Quarterly or Yearly Comparison of Incomes and Expenses * Providing profit percentages, trends of Incomes and Expenses * Ratio Analysis Please share your...

Dirky · Dirky

Hi, hope you can help :). I have 2 companies, A and B lets call them. I am using Xero for both. I want company A to loan money to company B, no interest, just a straight forward loan to be paid back at some point. Maybe or maybe not in instalments. I am creating a 'spend money' transaction in A to show the money g...

Topic		Started By	Replies	Views	Last Post
	Old vehicle part ex against a new vehicle (Preview) Hello me and my friend are struggling with the below.Supplier asked for sales invoice for full trade in amount of 19000. + vat posted to sale of assets account. Payment Outstanding.New vehicle purchased for 40000 + vatOld vehicle FA of 22000Depreciation 16000Finance balance of 11000The dealersh...	Watson2012	2	488	Thu Sep 9 16:35 2021 by Watson2012
	Which Gateway ID to use?! (Preview) Hi all, I am registered with HMRC for AML supervision and have a Government Gateway ID for that. Years ago I was self-employed in a different industry but closed that business and thought no more of it. When I tried to register my bookkeeping business for self-assessment it was flagged up that I alrea...	EmmaAlt	6	657	Sun Sep 5 14:09 2021 by Taxagent
	Employee expenses - allowable? Employees expenses (Preview) Hello. I was always taught, if a Director pays a tip on his allowable subsistence expenses that this tip is not allowable and I process that to DLA. What about Employees? First time this client has taken on employees, there is no expenses policy, told them but they just allow staff to do what they wan...	HelenF02	13	1055	Fri Aug 27 13:37 2021 by Artois
	Looking for nominal code for "Recording Studio" (Preview) Please can somebody advise me, I am doing Sage for my furture son-in-law and he is a Dj and also play with a band, He quite often goes to recording studio's, but I cannot find anything related in the nominal codes. Driving me crazy!	Caroling	4	728	Mon Aug 16 05:35 2021 by Onion4Sage
	Registering as an agent with HMRC (Preview) Hi everyone, My name's Maggie, I'm AAT qualified and i've a got around 18 years experience in Purchase Ledger and treasury. I'm wondering if anyone would be able to give me a dummies guide to setting up to do some paid bookeeping and payroll on the side. I've been researching the steps I need to take...	MagsMols	2	574	Fri Aug 6 13:34 2021 by Leger
	Cashback - income for corporation tax and vat, or not? (Preview) I have a query regarding business income for cashback on a VAT registered limited company registered in the UK. We recently opened up a PayPal Business Debit Mastercard and you receive 0.5% cashback on all purchases. We have a separate PayPal account for any business transactions and PayPal pay t...	Jpeterson85	10	915	Wed Aug 4 12:27 2021 by Shamus
	Sale of a van and purchase of another (Preview) Hi All I am a sole trader NOT VAT registered and run a small electrical repair business I bought a van 5 years and 8 months ago for £8400 (vat included) then sold it a month ago for £5000 in a private sale I then bought a new van on the same day for £16250 (vat included) Can someone clarify if I have to Pay Capit...	Andye	1	469	Sun Aug 1 19:44 2021 by Artois
	transfer of takings (Preview) Hi all , just after a bit of advice on how to deal with takings for a business that have been taken on another businesses card terminal. There are two businesses that operate from the same unit. In error one of the businesses transactions have been put through on the other businesses card terminal so t...	stephen72	2	541	Tue Jul 27 11:58 2021 by stephen72
	Working from home , subsistence working from home subsistence (Preview) Hi After reading through few of the related the articles I've decided to kindly ask for the opinions. The customer no 1 is a SE baker working from home. Some refurbishment has been performed at two rooms at their house , living room has been converted to a kitchen / production floor. Would it be corr...	Roadrunner	8	851	Fri Jul 23 17:22 2021 by Shamus
	Saving Data in XERO (Preview) Hi It seems that Xero only holds data from the last Financial year and the current one. Does anyone know if Xero has an archive ? If you need to look at your accounts records from say 4years ago - it does not seem possible. I am a bit worried that purchase invoices that I have embedded in Xero will disa...	citygal5	11	1232	Tue Jul 20 10:34 2021 by HarryStottle
	Cashbacks tracked on off-licence stores (Preview) I got the Cardnet report with service carges+fees; preparing the VAt but need to trace Cashbacks? Second, what's best method for bookkeeping via Quickbooks for off-licence stores? Do i have to use a clearing account to clearing Banking feeds? or try to post CardNet receipts directly to Sales, th...	AJones	2	562	Fri Jul 9 10:05 2021 by BudgetB
	When a sole trader dies (Preview) Hi Everyone One of my sole-trader clients has passed away suddenly and the family will be passing me the records they can find to complete 20/21 which should be straightforward. My brain is now overthinking what to do with 21/22? Any guidance would be much appreciated. Thank you	Kinbuck	7	817	Sat Jul 3 21:04 2021 by stephen72
	The Difference Between Cash Accounting and Accruals (Preview) All I know is that a) cant use capital allowances with cash accounting, b) cash accounting is based on when money is paid and accruals is invoice based, c) not supposed to change from one to the other, d) small companies often better with cash as it helps cash flow yes? Is there anything else to it and how s...	Digdogs	2	543	Sat Jun 26 14:57 2021 by Digdogs
	Conditions in selling online locally and internationally for UK and Ireland registered business. (Preview) Please layout the different conditions in selling online, locally, & internationally from a UK-registered business and an Irish-registered business. Your reply should not be solely Brexit-focused (can be referenced) but rather cover VAT / month-end / year-end points that are different a...	airamae	3	611	Sat Jun 26 11:39 2021 by Chaz
	IAB Criminal Records Check (Preview) Calling all barrack room lawyers. I have been a member of IAB for many years. I am retired and so am not in practice or employed. I recently received a demand from IAB to provide them with a current DBS check at my own expense, I replied telling them if they need one they should apply. I then came over all Vic...	CharlieChav	5	904	Sat Jun 12 23:30 2021 by CharlieChav
	Temporary Reduced VAT Rate - Pets (Preview) Hi I haven't been on for a while and hope everyone is okay. I have a client who runs a small hotel, he is just opening up again and has decided to go Pet Friendly. Would Pet charges whilst staying in the Guest rooms be charged at the Lower VAT Rate 5% or would this be classified as Standard VAT. Many Thanks Sh...	Sheena	1	519	Mon Jun 7 17:43 2021 by Chaz
	Manual salary Journal - Sage (Preview) Hello, I am very new to this and appreciate any help so that I can enter my first salary journal for April wages and get it right I have come stuck as we have a CIS suffered refund amount (1570.04) and an NIC EA REFUND amount (1501.63) - and it is just confusing the life out of me. GROSS - 17897.49 ERS NI -...	KimmyG1984	1	537	Wed May 19 15:54 2021 by Leger
	Community Benefit Society (Preview) Hello! I am a registered bookkeeper and have been approached by a CBS in my village to volunteer to carry out a lay audit to assure the administration and records relating to the sale of community shares. Can anyone tell me whether I can go ahead do this without breaking any AML rules? Thanks in advance...	Melissa15	8	1029	Thu May 6 13:17 2021 by Sun
	Which is the benefits when outsource bookkeeping services bookkeeping (Preview) I consider following benefits when outsource bookkeeping services. * Weekly and Monthly Profit and Loss Account and Balance Sheet * Monthly, Quarterly or Yearly Comparison of Incomes and Expenses * Providing profit percentages, trends of Incomes and Expenses * Ratio Analysis Please share your...	outsourcingbookkeeping	18	8430	Thu May 6 09:44 2021 by BMM
	Inter company loan? (Preview) Hi, hope you can help :). I have 2 companies, A and B lets call them. I am using Xero for both. I want company A to loan money to company B, no interest, just a straight forward loan to be paid back at some point. Maybe or maybe not in instalments. I am creating a 'spend money' transaction in A to show the money g...	Dirky	0	500	Sun May 2 14:47 2021 by Dirky
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