VAT Margin Schemes and Accounting Software
Unfortunately, mainstream accounting software (such as Sage, Quickbooks, Tas and so on) generally do not handle the VAT Margin Schemes automatically). There are “bolt-ons” and modules available – at a...
View ArticleChoosing Bookkeeping/Accounts Software
Choosing bookkeeping or accounting software for your business or organisation is a big step. There is so much available on the market, with new vendors and products coming out all the time. So, how do...
View ArticleMain Accounts Software Providers
(in alphabetical order) Desktop software Accountz Mamut MoneySoft MS Office Accounting (discontinued) MYOB (discontinued in the UK) Pegasus Quickbooks (Intuit) Sage Solar Accounts TAS TurboCash VT...
View ArticleSoftware and Your Accountant
As in my previous post, it’s always best to consult your accountant regarding your software choice. He/she may have no opinion, in which case, you haven’t lost anything. However, they may be able to...
View ArticleeBay Accounting
If you are serious about starting an eBay business, then it’s important to get the accounting and bookkeeping in place from the start. eBay traders generally do low value – high volume sales. This...
View ArticleInputting Batch Sales Invoices and Credit Notes in Sage
How to input a batch sales invoice in Sage: (This is for invoices and credit notes generated outside of Sage) From the “Customers” module, click on “invoice” – which is usually a “button” icon near the...
View ArticleInputting Purchase Invoices and Credit Notes in Sage
How to input a purchase invoice in Sage: From the “Suppliers” module, click on “invoice” – which is usually a “button” icon near the top. A pop up window entitled “Batch Supplier Invoices” should...
View ArticleRecording Customer Receipts on Sage
How to input record a Customer Receipt in Sage: (This is to match payments received from customers to the invoices on their account in the sales ledger module) From the “Bank” module, click on...
View ArticleRecording Supplier Payments in Sage
How to input record a Supplier Payment in Sage: (This is to match payments made to suppliers to the invoices on their account in the purchase ledger module) From the “Bank” module, click on “supplier”...
View ArticleBank Payments and Receipts in Sage
How to post a bank payment in Sage (directly from the bank to the nominal code, without going through the purchase ledger module): From the Bank module, ensure that you have the appropriate bank...
View ArticleThe Difference between Zero-Rated VAT, VAT Exempt and Out of Scope of VAT
There is sometimes confusion over what the difference between Zero-Rate VAT, VAT Exempt & Out of Scope VAT. Zero-Rate VAT items, such as books, childrens clothes and some food, do have VAT on them,...
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