Recent content by trevorgoldon

  1. T

    Personal to Business Transfer Mistake

    Great. Thanks for the help :)
  2. T

    Personal to Business Transfer Mistake

    Hi, I am a Sole Trader, with a separate business bank. I was intending to transfer funds between my personal account using BACS. Unfortunately, by mistake I made the BACS to my business account and I'm not sure what I should do next. I don't want that money in my business account, can I just...
  3. T

    Online Forum Purchase Allowable?

    Would I enter it as a bill in Quickbooks and pay it? Or would I make a Journal entry crediting the drawings account and debiting the expense account?
  4. T

    Online Forum Purchase Allowable?

    Hi, looking for a little guidance. I purchased some accounting software from a UK Buy/Sell/Trade forum, it was unopened/not used. I have a print off of the original forum for sale ad and a print off of the Paypal transaction (personal account) showing the payment. Is this something I could...
  5. T

    Direct Debit Question (Quickbooks)

    Could I put a separate bill in each month for each £20 Direct Debit instead of the one big bill?
  6. T

    Direct Debit Question (Quickbooks)

    I am using Quickbooks and I have a £200 bill from October 2011 that I pay a Direct Debit of £20 each month, starting November 2011 through to August 2012. I originally added the full amount as a bill in October 2011 and each month made a DD payment in quickbooks, it seemed to be working fine, it...
  7. T

    Entering Petrol Receipts

    So do I debit motoring expenses and credit capital account each time I record miles? or just once at the end of the tax year? Do I need to do a journal entry for this?
  8. T

    Entering Petrol Receipts

    Thanks for the quick reply, so should I not buy petrol with my business account in the future? Another quick question regarding this. I am using Intuit Quickbooks to keep track of mileage and mileage reports, does anyone know how to get the mileage to show under profit and loss report, or do I...
  9. T

    Entering Petrol Receipts

    I am a sole trader and not VAT registered.
  10. T

    Entering Petrol Receipts

    I use a car for business that is also used for personal use. I record the miles for business use, so I can claim per mile (0.45p) I have brought some of the petrol using my business debit card, should I enter these receipts as drawings? Or is there a certain category I should be using? Also...
  11. T

    Correct way to withdraw money as a Sole Trader?

    Thanks for the help, yes I have a separate business account.
  12. T

    Correct way to withdraw money as a Sole Trader?

    What is the correct way to withdraw money as a Sole Trader? Do I just go in the bank and withdraw cash with a receipt or do I need to write a cheque or transfer to a personal account? Also what is the correct way to record this? As owners drawings? Thanks.
  13. T

    Sage Sole Trader Start Up Investment

    Off topic but thought I would ask here instead of a new thread, I had a few National Insurance direct debits go from my business account ( which I have since changed) , Is there a specific way to record these transactions in my business account or do I just put them down as drawings?
  14. T

    Sage Sole Trader Start Up Investment

    Great, Thanks. Can I do the same thing to record an initial investment into a business petty cash account?
  15. T

    Sage Sole Trader Start Up Investment

    Thanks for the help, I have a Capital Introduced (Code 3010) Would this be the correct one? (I am using Sage 50 if this makes any difference)
See more
Top Bottom
Community
Articles
Menu