Recent content by Michael Barnes

  1. M

    Job offer from ex client

    Speak with ACAS, this is precisely the kind of issue they're there to help with and it's completely free. https://www.acas.org.uk/contact
  2. M

    Recommend a workplace pension provider

    Check out Penfold. I use them for my personal pension but I know they also do company pension schemes.
  3. M

    Monthly Billing - Preventative IT Support

    I see nothing wrong with what you're proposing but I do think you may struggle to get much traction with it if your main target is consumers. Consumers are more likely to just wait until it goes wrong and pay £50-£60 to get it fixed, rather than paying £120 per year which doesn't even cover...
  4. M

    Start up partnership business shares

    I don't know what your relationship is like with your partner but this would be a huge NO from me. Yes it's her idea but the idea is useless if she can't fund it. If she's insisting on a wage, then you need to have the same. You should also be looking to get a return on your investment which...
  5. M

    Employee mobile phone use

    Something no one else seems to have mentioned here: You've already mentioned that they do get their work done, but, do they also go over and above when required, working a bit of extra time here and there without claiming overtime? Do they regularly work through lunch breaks like a lot of office...
  6. M

    Reinvesting money paid to director

    Knew there was a simple way to do it just having a blonde moment. Trying to work out how to enter it as a cheque or bill without affecting the bank account but of course I don't need to do that as I'm not paying the money out, just go into Directors Loan Account in the COA and enter it directly...
  7. M

    Reinvesting money paid to director

    I'm sure there's a simple answer to this but I'm drawing a blank at the moment trying to work it out in my head. As a director of a newly formed company I use my own car when visiting clients, I need to reimburse myself for the mileage but I don't want to take that money until the company can...
  8. M

    charging customer for card processing fee.

    Sorry for not replying sooner. GoCardless isn't really an issue as the fee is negligible and capped at £2 but card payments are different as we're charged 2.75% and on some of our products such as Desktop Computers our profit margin is so small the 2.75% can make a big difference. That said, I...
  9. M

    charging customer for card processing fee.

    Sorry subject is wrong it's not about charging customers is just about accounting for the card processing fees so I have a paper-trail of which customer/payment the fee applies to. With regards to your question, yes it would help if I mentioned the software - Quickbooks Pro 2016
  10. M

    charging customer for card processing fee.

    I accept various payment methods including GoCardless, iZettle and WorldpayZinc and I'd like to be able to associate the fees these companies charge me with the customer invoice/payment so the profitability of the invoice is accurately reported. I know I could just put the payment through...
  11. M

    Prepaid expense spanning multiple years.

    Thanks for the clarification, much appreciated.
  12. M

    Prepaid expense spanning multiple years.

    Thanks for the clarification, much appreciated.
  13. M

    Prepaid expense spanning multiple years.

    I've seen a few articles on setting up prepaid Expense accounts and then using memorised journals to spread the cost over the period covered by the expense but I have a few questions I hope someone may be able to answer. 1, some sites say to use 'other asset' for the Prepaid Expense account...
  14. M

    Recording purchase of services used for support

    Would it really be an overhead? I would expect an overhead to be something which is used in the running of the business as a whole whereas this expense is directly related to providing a specific service to customers.
  15. M

    Recording purchase of services used for support

    Just thinking further on this, should this go under the 6000 range as it's a cost incurred for something which allows us to provide a product/service but isn't technically something we resell as such, but then again neither is packaging but that comes under 5000. Although I suppose you could...
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