Recent content by HankMcSpank

  1. H

    Pre VAT registration - VAT reimbursement - how to enter into accounts software?

    Many thanks :-)
  2. H

    Pre VAT registration - VAT reimbursement - how to enter into accounts software?

    Thanks for your input. The amount owing back to me was calculated outside of the accounts software, the chain of events went like this... 1. Incorporated (not VAT registered) 2. Shelled out a whole heap of VAT for stock 3. Later that year, I reached the VAT threshold/limit. 4. Became VAT...
  3. H

    Pre VAT registration - VAT reimbursement - how to enter into accounts software?

    When you get a reimbursement cheque for VAT paid out prior to being VAT registered (i.e. VAT reclaimed for stock still on hand), how do you account for the reimbursement in accounts software?!!
  4. H

    Shipping agent calculated VAT & Duty wrong - what to do?!

    To be clear...I did tell the shipping agent. My invoice was went recalculated ....& went from about £600 upto £5,000! (most of which was VAT, which I can reclaim - incidentally, I'm not on the FRS VAT scheme)....& it has all been paid now. Thanks for all your input :-)
  5. H

    Shipping agent calculated VAT & Duty wrong - what to do?!

    Fair enough....that's what I thought too - I've just fessed up to the agent & asked them to re-calculate. thanks for your input :-)
  6. H

    Shipping agent calculated VAT & Duty wrong - what to do?!

    There's duty involved too (which obviously is much less than it should be) As I say I realise the right thing to do would be to flag it, but it's not my mistake...it's theirs! (& I've given them all the correct info....supplier invoice, which had full & correct values on it).
  7. H

    Shipping agent calculated VAT & Duty wrong - what to do?!

    I reckon it should be about £4,000.....but they've got the VAT owing as £400. Like I say, I'm VAT registered, so the VAT would come back to me anyway....but it would certainly help 'oil things' if I didn't have to shell out £4k now! I'm figuring this error will be flushed out later at their...
  8. H

    Shipping agent calculated VAT & Duty wrong - what to do?!

    My shipping agent seems to have severely miscalculated the amount of import duty & VAT attributed to a shipment that has just arrived. So what to do? Now I know the correct (moral) answer...tell them of their error! But frankly, it would really ease some cashflow issues I have if I let it ride...
  9. H

    Opening a EURO Business Bank Account

    Just open a world first euro account...your amazon euro deposits go into there & then whenever you'e ready you convert your euros to sterling.
  10. H

    Tax credit on dividends 2016

    I'm assuming those Directors with a limited company should pay themselves a dividend to the maximum available (in company coffers & personal basic tax left) on April 4th 2016?
  11. H

    My Accounts software 'bank' balance is a bit out of whack vs. reality.

    For what it's worth, my real world bank is to the penny! (to put this into perspective, Tesco accounts profits error was £250Million in 2014 ....they clearly need you guys onboard!) I use Quickbooks (which in the main seems alright) ..the problem is how I've historically entered the sales...
  12. H

    My Accounts software 'bank' balance is a bit out of whack vs. reality.

    I was hoping for a way of making a 'corrective entry' to save having to sit down for a few weeks of nights to remedy £200....that was my point of posting. If you are saying that a business has to to be to the £1 when submitting annual accounts (& must apply labour to get to the bottom of a 0.1%...
  13. H

    My Accounts software 'bank' balance is a bit out of whack vs. reality.

    I think it's lots of smaller entries.....I sense it will take an inordinate amount of time to get to the bottom of (paypal deduct their fees as they go, whereas my online sales end up in my accounts software gross, I then account for the their (paypal) fees grossed up monthly - this will make...
  14. H

    My Accounts software 'bank' balance is a bit out of whack vs. reality.

    Not understanding what you mean? yes, so I'm sure some of the £200 discrepancy will have been prevalent for my last year's accounts. (I believe that when a Director 'sign off' accounts, it's not down to the penny ...& this is only an error of less than 0.1% in view of my annual turnover)
  15. H

    My Accounts software 'bank' balance is a bit out of whack vs. reality.

    Hmm, so I'm guilty of not reconciling my accounts software 'paypal euro bank' vs my real world paypal 'bank'.....the end result is that over a couple of years my accounts software bank is showing £200 less than my (real) paypal bank. (which trying to look positively at this, it's better than...
See more
Top Bottom
Community
Articles
Menu