Recent content by Tina1

  1. T

    Figures on a Blance sheet

    Thank you for your quick reply. It has been very helpful. Could i ask one more thing on this matter. If my o/b shows 257.18 and i add receipts and minus payments i am left with a figure of £177.62 as money i have left in the acc. When i do 257.18 minus 177.62 i am left with £79.56 which is...
  2. T

    Figures on a Blance sheet

    Hello I am using Sage and have printed out a balance sheet. Could any help me with the current liabilities area for bank acc for the period ie/ month of may. It shows a figure for the bank acc as a liability but how is this figure worked out. I understand the rest of the figures and if my...
  3. T

    40p tax milage

    Thank you Yes think this is the best option for me at the moment. So just to clarify at the end of the month i could work out what i have used up in milage (as i would already have petrol in the car) and DR drawings and and then take the money out of my business acc for this amount. I take it...
  4. T

    40p tax milage

    Thank you I dont have one yet but these are things i am just trying to figure out for myself at the moment.
  5. T

    40p tax milage

    Hello If i am claiming the 40p per mile business rate. Do i need to put this through my accounts or just keep the receipts for my self assessment at the end of the year. I am just working out the milage for business and making a note of how much i can claim on it. Not really going to a...
  6. T

    Please Help Capital or drawings

    Thank you for your help. Could i add up all my misc receipts and do as you said and post to expense acc and at the end of the month CR the bank and DR drawings.
  7. T

    Please Help Capital or drawings

    sorry a ticket to park
  8. T

    Please Help Capital or drawings

    Hello Could some one please advise me. If i pay for a parking ticket from my own cash ( i dont have a petty cash system) Would i Dr -expense acc but what acc would i CR would it be capital as i have put the money into the business or Drawings as i paid for it out of my own money, but i...
  9. T

    Drawings or savings accounts for sole trader

    thank you for your advise. If i do use this acc to hold the tax and course money would i need to reconcile it. I dont think i would though as it is just holding the money?
  10. T

    Sage and what tax codes to use

    Sorry i will enter this again as was not sure put enough info on I am not VAT reg so cant claim any VAT back etc. So when a customer pays me for services and they are not VAT reg do i use code T9 or T2. The same with if i buy stationary or a small CD player for my business what code would i...
  11. T

    Sage and Tax codes

    Hello If i am not VAt registered and i put my transactiosn through on sage would i be using tax code T9 or T2. Not quite sure Thank you
  12. T

    Drawings or savings accounts for sole trader

    Hello I just wanted to clarify. If i put money for tax man into a savings acc each month and also money towards tax deductable courses and this savings account is also used for personal transactions would i need to do anything with the interest or reconcile it. I was assuming not as when i...
  13. T

    Sage postings help please

    Hello I have just started using sage instant for sole trader and i would just like to clarify a few things about the postings. If anyone could answer these questions would be very grateful. 1. If i transfer 20% tax each month out of my business account. I have gone DR Drawings and CR bank...
  14. T

    bank accounts and reconciliation

    yes i am just about to start doing the accounts for a friend who is a sole trader and has been in business since jan. But i understand to reconcile the business acc as this is where most transactions happen. But if she was using the savings acc to store the 20% tax and any course fees do i...
  15. T

    bank accounts and reconciliation

    Hello Could anyone advise me please on some questions i have. If a customer has a business acc and all transactions go through this and they transfer their tax (for self assessment) and course fees into a savings account (also in the savings account they use it for other non business...
See more
Top Bottom
Community
Articles
Menu