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Post Info TOPIC: Looking for nominal code for "Recording Studio"


Newbie

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Looking for nominal code for "Recording Studio"


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!



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Guru

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What expense are you looking to input? Is it travel to the studio? is it the hire of the studio? without knowing what you are trying to achieve then hard to advise Or is it Income?

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Doug

These are only my opinions of how I see things and therefore should not be taken as advice



Newbie

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Looking for nominal code for


It is hiring studio, I know there is a nominal code for hiring equipment, but not sure to put it under that.


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Member

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Not enough info. What is he doing in the studio? Just jamming? Then not a business expense. Or is he recording to sell his records with the band? Who will own the rights to the record? Not just him.

You should not mix his sole trader accounting with that of the band. The band needs to get the advice of their Accountant. They need to agree what will eventually happen to those costs and it should be legally documented. Only then can you determine where to put the entry.

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Senior Member

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It's an unusual expenditure item. I'm not at all surprised that the standard chart of accounts doesn't cater for it. So ... create a code that does cater for it in the correct section of the chart of accounts.

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Ian

Ian Brown FCA
Onion Reporting Software Ltd

www.onionrs.co.uk

Sage accounts in Excel. No set-up necessary. Free trial.

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