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

GCW · GCW

Good evening all. My first post here. I am having trouble trying to balance the Statement of Financial Position for a Limited company owned by a close friend, for whom I am the bookkeeper. I suspect that the answer is staring me in the face, but would appreciate some help if possible? I think the issue is...

rafapak · rafapak

Hi In my exercise I have fixed overheads for 350 pounds in flexed budget column and fixed overheads in actual column for 630 pounds. Is this difference due to the fact that in flexed budget column there are absorbed fixed overheads (based on estimates) and in actual performance column there is actua...

rafapak · rafapak

Hi guys I wonder which is better for your learning and exam preparation ? You have given tables in exercise book that you have to populate with numbers. If you create similiar tables in excel you only have to do calculations which is very fast in excel. You practically don't have to think about anything...

rafapak · rafapak

I am sorry I removed my initial message . I think I found the answer to this question on my own. -- Edited by rafapak on Tuesday 7th of April 2020 10:43:44 AM -- Edited by rafapak on Tuesday 7th of April 2020 10:46:46 AM

biggings and beegle · biggings and beegle

can anyone exlain in simple mans terms what these mean please

rafapak · rafapak

Hi I enclosed question to tutor from opentuition. Student asked about depreciation in the year of disposal and tutor said it makes no sense to depreciate in the year of disposal. Can anybody tell me why it doesn't make sense to depreciate in the year of disposal ? https://opentuition.com/topic/c...

Graham Carver · Graham Carver

Which Ledger should Drawings be placed on? Historically I have been putting them on as an Expense which is obviously wrong. Please be kind with replies as I am not an accountant.

biggings and beegle · biggings and beegle

HiDoes anyone have any examples of spread sheets for money in and money out that are typically used for a small vat register business that mainly deals in cash sales. Something that one could complete them self and send it off to a chartered accountant annually to be finalized? ThanksB&B

Jay · Jay

Good morning all, I hope you are all well and staying safe. This may not be such an issue for us this year as we have considerably reduced our client base, but may be worth consideration by others as well. For some clients we also undertake Payroll, book keeping, VAT and MGD with some of these delivering p...

haymac · haymac

Hi All, I have a couple of SE clients who are in their first year of trading and these will not be included in the income support measures currently available. I am thinking, what are the chances of HMRC extending their measures to allow these to submit should the lockdown continue ? The reason I...

HarryStottle · HarryStottle

Morning All I'm trying to explain to a company director why their company book keeping is not up to scratch. Eg. the director can't check sales and expenses for last month, the balance sheet is incorrect because the accountant makes adjustments but they are just one lump sum so directors can't reconc...

rafapak · rafapak

Hi guys Does anybody know if it is possible to find table of contents for this book somewhere on the internet ? I just wonder if this book teaches how to prepair cash flows and statement of changes in equity. On amazon some books have ' look inside' feature so that one can check table of contents. Unfortu...

Cheshire · Cheshire

Well there you go, its out.

Cheshire · Cheshire

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/874772/small-business-grant-fund-and-retail...

rafapak · rafapak

I am trying to understand what we need closing inventory adjustment for but I have troubles with it. I have 1000 pounds debit balance on my finished goods account. This is balance sheet account. I sell part of my finished goods. Cost of goods sold is 700 pounds. Closing balance on my finished goods acc...

rafapak · rafapak

Hi guys I use bpp final accounts preparation book. At the beginning it is stated that sole traders and partnerships are not legally required to produce or file annual accounts but will need to keep records in order to complete tax returns. If sole traders and partnerships are not legally required to p...

haymac · haymac

Hi All, Quick question - I have a client who become SE part way though 2016/17, had been PAYE up until November 2016 then SE thereafter. Will the income support scheme only see the SE element of that years return ? Any pointers gratefully appreciated.

haymac · haymac

ChrisBolton · ChrisBolton

Hi there, Ive had a quick look and couldnt find anything g on this I, along with many others, take a basic wage of £8000 and the rest in dividends - does anyone know where we stand in relation to government help? As far as I can see Im not self employed, I cant be furloughed, yet my income will be decima...

ChrisH · ChrisH

Hi We are a startup company and have contract to develop a new product for a client. They are paying in stages and have recently paid us part of the fee. These payments are in advance of the work to allow us to run the company, buy materials and equipment etc, however we have hit COVID-19 and work has slowe...

Topic		Started By	Replies	Views	Last Post
	Problem balancing a SOFP (Preview) Good evening all. My first post here. I am having trouble trying to balance the Statement of Financial Position for a Limited company owned by a close friend, for whom I am the bookkeeper. I suspect that the answer is staring me in the face, but would appreciate some help if possible? I think the issue is...	GCW	2	403	Sun Apr 12 20:17 2020 by GCW
	fixed overheads in flexed budgets (Preview) Hi In my exercise I have fixed overheads for 350 pounds in flexed budget column and fixed overheads in actual column for 630 pounds. Is this difference due to the fact that in flexed budget column there are absorbed fixed overheads (based on estimates) and in actual performance column there is actua...	rafapak	0	210	Sun Apr 12 19:39 2020 by rafapak
	aat level 3 exam preparations-excel or sheet of paper and calculator ? (Preview) Hi guys I wonder which is better for your learning and exam preparation ? You have given tables in exercise book that you have to populate with numbers. If you create similiar tables in excel you only have to do calculations which is very fast in excel. You practically don't have to think about anything...	rafapak	2	357	Sun Apr 12 18:10 2020 by rafapak
	manufacturing account-add opening work in progress inventory less closing work in progress inwentory (Preview) I am sorry I removed my initial message . I think I found the answer to this question on my own. -- Edited by rafapak on Tuesday 7th of April 2020 10:43:44 AM -- Edited by rafapak on Tuesday 7th of April 2020 10:46:46 AM	rafapak	0	270	Tue Apr 7 10:19 2020 by rafapak
	Flat rate and annual account schemes (VAT) (Preview) can anyone exlain in simple mans terms what these mean please	biggings and beegle	6	628	Sun Apr 5 15:47 2020 by Casu
	depreciation in the year of disposal (Preview) Hi I enclosed question to tutor from opentuition. Student asked about depreciation in the year of disposal and tutor said it makes no sense to depreciate in the year of disposal. Can anybody tell me why it doesn't make sense to depreciate in the year of disposal ? https://opentuition.com/topic/c...	rafapak	7	639	Sun Apr 5 10:40 2020 by rafapak
	VT Accounts Drawings (Preview) Which Ledger should Drawings be placed on? Historically I have been putting them on as an Expense which is obviously wrong. Please be kind with replies as I am not an accountant.	Graham Carver	4	379	Sat Apr 4 15:11 2020 by Shamus
	Looking for Book keeping templates plz (Preview) HiDoes anyone have any examples of spread sheets for money in and money out that are typically used for a small vat register business that mainly deals in cash sales. Something that one could complete them self and send it off to a chartered accountant annually to be finalized? ThanksB&B	biggings and beegle	17	972	Wed Apr 1 12:29 2020 by Cheshire
	Paperwork delivery - essential travel? (Preview) Good morning all, I hope you are all well and staying safe. This may not be such an issue for us this year as we have considerably reduced our client base, but may be worth consideration by others as well. For some clients we also undertake Payroll, book keeping, VAT and MGD with some of these delivering p...	Jay	12	941	Tue Mar 31 13:11 2020 by Casu
	Self Employed - first year trading (Preview) Hi All, I have a couple of SE clients who are in their first year of trading and these will not be included in the income support measures currently available. I am thinking, what are the chances of HMRC extending their measures to allow these to submit should the lockdown continue ? The reason I...	haymac	3	437	Tue Mar 31 09:40 2020 by Rachel19
	Source for book keeping best practice (Preview) Morning All I'm trying to explain to a company director why their company book keeping is not up to scratch. Eg. the director can't check sales and expenses for last month, the balance sheet is incorrect because the accountant makes adjustments but they are just one lump sum so directors can't reconc...	HarryStottle	11	756	Tue Mar 31 08:34 2020 by HarryStottle
	Financial statements of limited companies tutorial - aat level 4 (Preview) Hi guys Does anybody know if it is possible to find table of contents for this book somewhere on the internet ? I just wonder if this book teaches how to prepair cash flows and statement of changes in equity. On amazon some books have ' look inside' feature so that one can check table of contents. Unfortu...	rafapak	3	456	Mon Mar 30 19:51 2020 by rafapak
	Latest news on OMBs (Preview) Well there you go, its out.	Cheshire	8	582	Mon Mar 30 18:35 2020 by Leger
	Business Rates - guidance finally out. (Preview) https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/874772/small-business-grant-fund-and-retail...	Cheshire	5	546	Mon Mar 30 17:23 2020 by Cheshire
	closing inventory adjustment (Preview) I am trying to understand what we need closing inventory adjustment for but I have troubles with it. I have 1000 pounds debit balance on my finished goods account. This is balance sheet account. I sell part of my finished goods. Cost of goods sold is 700 pounds. Closing balance on my finished goods acc...	rafapak	7	884	Sun Mar 29 20:46 2020 by Lorry10
	final accounts preparation- aat level 3- sole traders and partnerships (Preview) Hi guys I use bpp final accounts preparation book. At the beginning it is stated that sole traders and partnerships are not legally required to produce or file annual accounts but will need to keep records in order to complete tax returns. If sole traders and partnerships are not legally required to p...	rafapak	9	723	Sun Mar 29 00:31 2020 by rafapak
	Self Employed - income support scheme (Preview) Hi All, Quick question - I have a client who become SE part way though 2016/17, had been PAYE up until November 2016 then SE thereafter. Will the income support scheme only see the SE element of that years return ? Any pointers gratefully appreciated.	haymac	4	437	Fri Mar 27 14:06 2020 by haymac
	Watch out for this SCAM (Preview)	haymac	4	446	Thu Mar 26 16:22 2020 by Cheshire
	Coronavirus/one man ltd company (Preview) Hi there, Ive had a quick look and couldnt find anything g on this I, along with many others, take a basic wage of £8000 and the rest in dividends - does anyone know where we stand in relation to government help? As far as I can see Im not self employed, I cant be furloughed, yet my income will be decima...	ChrisBolton	23	1190	Thu Mar 26 14:23 2020 by Leger
	COVID end of tax year (Preview) Hi We are a startup company and have contract to develop a new product for a client. They are paying in stages and have recently paid us part of the fee. These payments are in advance of the work to allow us to run the company, buy materials and equipment etc, however we have hit COVID-19 and work has slowe...	ChrisH	3	442	Thu Mar 26 12:14 2020 by Cheshire
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