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

solomon30 · solomon30

Hello,I would like all invoices and credit notes received from suppliers to be entered into our Purchase Ledger. However, our accounts disputes this when a credit note is received shortly after an invoice and they both net off and tends to avoid posting them to PL and just shreds both documents!My...

Leger · Leger

I'm currently doing 20-21 accounts for a sole trader. I've spotted that a couple of loans have been recorded as income in the 19/20 accounts totalling 3.5k. Also interest to be added to be added to these and another loan (correctly recorded) totaling c£1200. Turnover for that year was 97k. Is tha...

mindy · mindy

Hi, I'm asking about the difference between the direct write-off of a bad debt vs. the allowance method. I know that under a bad debt expense, a specific invoice is being charged off against it, while under the allowance method only an estimate is being charged off. I had two questions: 1. Besides the...

Dahlia · Dahlia

Hello New to this forum and thank you for reading. I'm part way (finished Level 2 ICB Bookkeeping & Accounts with Xero) working through Level 3. The plan is/was to finish the course and become self employed. I have been juggling this with a completely unrelated career in sales/marketing. I re...

HarryStottle · HarryStottle

I have my own views on it but I would be interested in the views of others. If a bookkeeper allocates a payment to the wrong balance sheet account is it better to then a) just correct the original journal or b) enter a further journal to correct the error? For background, the scenario is that these are entr...

Community · Community

Hi All, Scenario 1) Can Shareholder + Director invoice his own LTD as self-employed? (General building services trading LTD) (he will be providing labour to LTD) Scenario 2) Can Shareholder (not director) LTD where he owns 50% shares as self-employed? (General building services trading LTD) (h...

Community · Community

Hi, client received CIS repayment from HMRC for overpaid CIS tax. How this incoming money should be coded in books? Kind Regards

stargirl · stargirl

Hi, The company I work for received a county court claim which we have now paid, I just need some help on how to post this onto to sage and wether VAT is applicable or not? The original supplier account still has outstanding invoices which relate to the claim but the claims payment was made to a solicito...

Paula1 · Paula1

Hi All, It has been a few years since I last used Sage 50 and I cannot recall how to allocate payments to a PI that is posted to a supplier account after the payment is posted I have taken on a new job and I have a clean up to do, there are alot of payments and invoices outstanding on my suppliers that I need to al...

ecomledger · ecomledger

We mostly go after ecommerce clients but software is rich but never bookkeeper/accountant focused. We have been using Link My Books for some of our ecommerce clients. Its good when it automatically posts the monthly sales but when we want to create a VAT report or prior year accounts it can be a real st...

adamdylan · adamdylan

Hi guys interested to hear your thoughts and experiences On hwatis the best accounting software for bars and restaurants

adamdylan · adamdylan

Hi Guys Landlord sole trader earning @40k no finance whatsoever Refurbing new property income to inc to 80-100k Wants to keep paying basic rate tax and wants to partner with girlfriend who will genuinely be active 5 days pw Whats the best way they can split income 50/50 and keep income basic rate ie 50...

Sean Bolton · Sean Bolton

Good morning, We carry out conversion and repair work on our own vehicles but I am unsure how to account for the costs. I have raised an internal zero rated vat invoice so that my stock is adjusted and labour accounted for but not sure if this is correct or if I need to do a journal to clear the balance from my...

Lindy1957 · Lindy1957

I work for a small engineering company who produce infrastructure for the mobile phone industry. Recently we have purchased a large amount of goods from the USA & Ireland to develop new products and my managing director does not want the goods to show on the P&L as it will affect the day to day...

Sherlock · Sherlock

If a director should move to a hotel because his partner has tested positive for Covid. Can this be claimed as a valid business expense?

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...

Topic		Started By	Replies	Views	Last Post
	Invoices and Credit Notes which Net Off - post them all? purchase ledger credits and invoices net off (Preview) Hello,I would like all invoices and credit notes received from suppliers to be entered into our Purchase Ledger. However, our accounts disputes this when a credit note is received shortly after an invoice and they both net off and tends to avoid posting them to PL and just shreds both documents!My...	solomon30	1	477	Thu Jan 6 17:24 2022 by SoloHans
	Incorrectly recorded as sales - prior year (Preview) I'm currently doing 20-21 accounts for a sole trader. I've spotted that a couple of loans have been recorded as income in the 19/20 accounts totalling 3.5k. Also interest to be added to be added to these and another loan (correctly recorded) totaling c£1200. Turnover for that year was 97k. Is tha...	Leger	5	758	Sat Dec 18 16:44 2021 by Leger
	Difference between bad debt and allowance (Preview) Hi, I'm asking about the difference between the direct write-off of a bad debt vs. the allowance method. I know that under a bad debt expense, a specific invoice is being charged off against it, while under the allowance method only an estimate is being charged off. I had two questions: 1. Besides the...	mindy	0	455	Thu Dec 16 02:12 2021 by mindy
	Career change + ICB + next best steps (Preview) Hello New to this forum and thank you for reading. I'm part way (finished Level 2 ICB Bookkeeping & Accounts with Xero) working through Level 3. The plan is/was to finish the course and become self employed. I have been juggling this with a completely unrelated career in sales/marketing. I re...	Dahlia	0	552	Sun Nov 28 08:27 2021 by Dahlia
	Correct error directly or correct an error with a journal (Preview) I have my own views on it but I would be interested in the views of others. If a bookkeeper allocates a payment to the wrong balance sheet account is it better to then a) just correct the original journal or b) enter a further journal to correct the error? For background, the scenario is that these are entr...	HarryStottle	3	801	Fri Nov 19 18:17 2021 by Leger
	SHAREHOLDER/DIRECTOR - invoicing LTD as subcontractor (Preview) Hi All, Scenario 1) Can Shareholder + Director invoice his own LTD as self-employed? (General building services trading LTD) (he will be providing labour to LTD) Scenario 2) Can Shareholder (not director) LTD where he owns 50% shares as self-employed? (General building services trading LTD) (h...	Community	2	799	Fri Oct 29 14:31 2021 by Leger
	CIS repayment from HMRC (entry to books) - Limited Company (Preview) Hi, client received CIS repayment from HMRC for overpaid CIS tax. How this incoming money should be coded in books? Kind Regards	Community	6	1017	Thu Oct 28 09:16 2021 by Artois
	County Court Claim claim VAT county court (Preview) Hi, The company I work for received a county court claim which we have now paid, I just need some help on how to post this onto to sage and wether VAT is applicable or not? The original supplier account still has outstanding invoices which relate to the claim but the claims payment was made to a solicito...	stargirl	2	789	Thu Oct 28 08:26 2021 by Zoorbing
	Unallocated invoices and payments (Preview) Hi All, It has been a few years since I last used Sage 50 and I cannot recall how to allocate payments to a PI that is posted to a supplier account after the payment is posted I have taken on a new job and I have a clean up to do, there are alot of payments and invoices outstanding on my suppliers that I need to al...	Paula1	3	671	Thu Oct 21 09:38 2021 by Paula1
	Ecommerce Clients- difficulties? (Preview) We mostly go after ecommerce clients but software is rich but never bookkeeper/accountant focused. We have been using Link My Books for some of our ecommerce clients. Its good when it automatically posts the monthly sales but when we want to create a VAT report or prior year accounts it can be a real st...	ecomledger	2	610	Wed Oct 20 17:37 2021 by Zoorbing
	The best Restaurant bookkeeping software ? (Preview) Hi guys interested to hear your thoughts and experiences On hwatis the best accounting software for bars and restaurants	adamdylan	1	672	Mon Oct 11 13:56 2021 by Zoorbing
	Landlord wants to bring in Partner.. Trust (Preview) Hi Guys Landlord sole trader earning @40k no finance whatsoever Refurbing new property income to inc to 80-100k Wants to keep paying basic rate tax and wants to partner with girlfriend who will genuinely be active 5 days pw Whats the best way they can split income 50/50 and keep income basic rate ie 50...	adamdylan	2	677	Mon Oct 11 13:51 2021 by Zoorbing
	Internal Invoice (Preview) Good morning, We carry out conversion and repair work on our own vehicles but I am unsure how to account for the costs. I have raised an internal zero rated vat invoice so that my stock is adjusted and labour accounted for but not sure if this is correct or if I need to do a journal to clear the balance from my...	Sean Bolton	1	574	Mon Oct 11 08:34 2021 by Zoorbing
	Research & Development (Preview) I work for a small engineering company who produce infrastructure for the mobile phone industry. Recently we have purchased a large amount of goods from the USA & Ireland to develop new products and my managing director does not want the goods to show on the P&L as it will affect the day to day...	Lindy1957	0	630	Fri Oct 1 13:51 2021 by Lindy1957
	Directors hotel invoice (Preview) If a director should move to a hotel because his partner has tested positive for Covid. Can this be claimed as a valid business expense?	Sherlock	3	755	Mon Sep 20 13:10 2021 by Sherlock
	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	693	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	1021	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	1256	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	1089	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	795	Fri Aug 6 13:34 2021 by Leger
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