All Questions
Tagged with small-business accounting
34
questions
0
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0
answers
24
views
Filing a UK Company Tax return for 22/23- is it possible to bring back a trading loss from 23/24?
Whilst filing my UK company tax return for the financial year covering 22/23 in the section 'Trading losses', under 'Bring back a loss from a later period' is states the following:
You can only bring ...
- 101
0
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0
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40
views
Why is the UK Corporation tax payment deadline before the company tax return filing deadline?
I've returned to contracting (as a software engineer) after 8 years of full time employment and am now working through my own LTD company.
I mistakenly thought - as is the case with self assessment - ...
- 101
3
votes
1
answer
521
views
How to track business mileage in GnuCash?
I have a small business which involves some driving to clients using my personal vehicle. I track both my individual auto expenses and my mileage in GNUCash but so far have only been using the ...
- 131
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votes
1
answer
98
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Goodwill and Amoritization when buying a small business [closed]
When buying certain small businesses goodwill is the largest intangible asset.
For an example company,
Purchase Price: 1,000,000
Tangible assets: 200,000
Goodwill: 800,000
If the company's value stays ...
- 103
-1
votes
1
answer
48
views
Journals for credit with suppliers
How would I keep a record of payments with an insurance supplier (Zego if that helps) if they bill on the basis that the account gets topped up with credit, then they deduct from the credit on a pay ...
1
vote
0
answers
1k
views
Accounting for VAT on App Store sales as a UK VAT-registered company
UK VAT-registered company considering selling apps/games online (things like Apple App Store, Google Play Store, Microsoft Windows Store, Steam) and also earning via affiliate programs like Amazon ...
- 111
2
votes
2
answers
312
views
Loaning money to your small business by billing yourself and paying with personal credit card?
Can you loan money to your own small business by billing yourself and making a payment to it with your personal credit card? How would the accounting work on that? The business isn't actually billing ...
- 121
2
votes
0
answers
67
views
Revenue Recognition, Foriegn Currency, and Exchange Rates
I live in Canada, and run a small hobby website (under a sole proprietorship) which earns advertising revenue from various sources. Some of that is paid in CAD, some in USD, and some in EUR, etc.
My ...
- 206
0
votes
1
answer
382
views
Profit and loss statement without any sales [closed]
What would I put for the "cost of sales" in a profit and loss statement if I don't have any sales? I have purchased a lot of inventory, but as of now, I don't have any sales. Do I put 0 or a ...
- 213
0
votes
1
answer
354
views
How can separate businesses account for shared expenses?
I have an LLC which holds two separate DBAs. Each business has its own checking account. Most expenses are distinct, but some, like office space and internet are shared expenses. How can I properly ...
user91716
1
vote
3
answers
548
views
Accountant won't send an invoice without a PO
I've outsourced accounting including AP, AR, Rev Rec, etc. I have an unbilled revenue problem, where my accountant won't send invoices unless we have a PO! This is a problem because even though I ...
- 127
1
vote
0
answers
77
views
How to declare small business income before bank account is open
I have incorporated a company in December last year, and since then we started making money but had no bank account. Because of the company structure, one of the shareholders who owned more than 25% ...
- 11
1
vote
1
answer
2k
views
Closing company, what do to with last amount of funds?
So the business is about to be shut down and there is a little bit of funds left over in the business bank account which I do not want/need.
According to https://www.gov.uk/strike-off-your-company-...
- 111
1
vote
1
answer
187
views
What happens to the initial shares after opening a LTD company?
I have just opened my first LTD company in the UK, and I am trying to understand the way one goes about it.
Being a self taught person I have been trying to understand how it works by reading .GOV ...
- 23
1
vote
1
answer
576
views
Business Accounting and Reimbursement of Expenses in a Partnership
This maybe a stupid question but I can't seem to get my mind around it. I have a partnership and we've both spent some money on start-up expenses for which we'd like to be reimbursed now that the ...
- 113