Recent content by ElinaWhitt

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    VAT

    Thank you very much for your answer but what do you mean by ....you will need to allow? Is there anything special how I need to record EU invoices or do I need to change the scheme? Or is it fine to leave everything as it is?
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    VAT

    Hello, Small retail shop.. Business runs with VAT apportionment scheme and buys some goods from outside UK so all goods without VAT. Goods includes sweets and alcohol what in UK are taxable. Is apportionment scheme still ok to use? Regards Ellie
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    Year end b/f balance on P&L codes

    Thank you very much for your answer John. Figured out that I haven't run year end, just manually changed year end as was thought to do it when don my studying. Mistake from what I will learn and always will remember that proper year end procedure should be run. Just want to check... Is that...
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    Year end b/f balance on P&L codes

    Thank you all for your answers. Much appreciated! I have managed to run year end correctly. Now p&l bf balance is 0!! But after posting opening balance journal p&l to date are showing loss again. Can someone tell me if opening balances at year end should be posted in accounts 4000 and below or...
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    Year end b/f balance on P&L codes

    Hi Nicola, Sage seems no help at all. They are the ones who told me that I need to clear up 4000 code and down in balance sheet? Neither is accountants so I am trying to figure out it myself Thanks Ellie
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    Year end b/f balance on P&L codes

    Hi John, Thank you for your answer. I am only studying AAT level 3 at the moment so do not have experience with P&L and the rest of statements. Is there any way to shortly summarise what should happen with p& l and balance sheet at the year end. As I am putting together SAGE advise and...
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    Year end b/f balance on P&L codes

    Hello, Could someone advise what could be a reason why codes 4000 and below does not clear after running year end? Chart of accounts shows no errors. After receiving opening balances for year ended Sept 18 and journaling them on SAGE my P&L report showed that we are huge figure in loss what...
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    How to record savings

    Hi there, Just wondering if anyone can point me right direction. We have just started Christmas savings scheme and £320 are now "hanging in air" due to me not being able to figure out how to record it. I currently have 2220 Net pay credit balance of £320 savings has been transferred to our...
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