Nowhere to hide: Accounting firms face increased scrutiny after Lehman report

Fri, 19 Mar 2010 12:28:06 +0000

Audit expert Francine McKenna offers her opinion on this week's Lehman Brothers revelations and their impact on the audit profession.

Charity asking about QuickBooks

Fri, 19 Mar 2010 11:53:02 +0000

We are a large charity. We are looking for accounting software which would give our 10 users online access anytime from anywhere. We have 5 departments and 20 cost centres so we need three layer accounting, i e each transaction would have a Nominal Ledger Code, Cost Centre code and Department code.

We are considering QuickBooks at the moment. Before we invest time and effort looking into it in more detail we would be grateful if any users could advise us whether QuickBooks is capable of doing the above.

Thanks

Anti Fraud Policy

Thu, 18 Mar 2010 16:53:30 +0000

I'm trying to write an anti-fraud policy for a business consultancy, does anybody have a good one that I could crib from to save having to start from fresh.

Thanks in advance

Computer RAM

Thu, 18 Mar 2010 15:13:27 +0000

believe i have 2x 512 1.0gb 667mhz non ECC DDR11 [ per old quote for pc ]

what do i need to upgrade the RAM , and best place[s] to get it from ?

whatare they worth -

thx - but just not a tecky

Surely this is a fraudulent transaction?

Wed, 17 Mar 2010 19:59:41 +0000

The purchase will be a personal transaction rather than the company buying the shop. Director 'B' who is an equal shareholder is not in a position to partake in the purchase due to an extremely poor credit rating. Now director 'A' has learnt that director 'B's poor credit rating is going to break the deal. So director 'B' has agreed to resign as a director, transfer his share for no consideration so that director 'A' can proceed with the purchase.

Do businesses a favour, Darling!

Wed, 17 Mar 2010 15:09:38 +0000

The chancellor needs to focus on promoting economic stability and lightening the burden for British businesses, according to the Institute of Chartered Accountants in England and Wales.

The Budget and forthcoming election have the potential to create economic instability if handled incorrectly, warned ICAEW chief executive Michael Izza this week. “The chancellor needs to make sure that anything he announces on the 24 March does not have an unintentional, adverse effect but instead is focussed on helping to get the recovery going again”, he said.

Carol Baker's credit management checklist

Wed, 17 Mar 2010 10:02:12 +0000

In this classic BusinessZONE Expert Guide, credit management expert Carol Baker explains how to improve your company's cash flow, establish a correct credit policy for collecting your debts, and tells you how to deal with multitude of excuses for late payment.

Quick links

References

Wed, 17 Mar 2010 09:03:08 +0000

I may be called upon to give a reference for a temporary worker who has been reporting to me for about 5 months.

This person has been difficult from day one. They started off by saying that they suffer from some illness which affects their ability to get up each morning and consequently arrives about 15 minutes late each day. Their first task is then to go to the canteen and return with a bacon sandwich and coffee which is consumed at their desk prior to doing any work.

Implications of starting a limited company for service provided

Tue, 16 Mar 2010 17:10:21 +0000

As stated I have been asked to move from payroll to invoice my time from a ltd company as he wants to reduce PAYE payments!

What should I consider before doing this can I pay myself 6K per year and take my salary as dividends, as my tax code is BR so no PA for the new year. Would I include both on my tax credit application?

Can I add my car and mileage as company expenses against my hours?

Sorry to ask so much I just feel a little out of my depth and worried about making the wrong choice.

Thanks allot

Records retention

Tue, 16 Mar 2010 15:55:03 +0000

I have posted on this subject before but this liquidator will not let go...

30/70 split with new partner

Mon, 15 Mar 2010 20:42:50 +0000

I have a small ltd and I like to have a second shareholder. The split will be 70/30. I have 1000 ordinary shares at £1 each. What is the best way to give her 30% of the business? Selling 30% of my shares?

I found this http://www.businesslink.gov.uk/bdotg/action/detail?r.s=sc&r.l1=107385879... but it does not say specifically if I can just give them or I need to be paid for them.

£140 for an HP cartridge - there must be a cheaper way!!

Mon, 15 Mar 2010 14:56:24 +0000

My stationery supplier wants to charge £140 for an HP printer cartridge.

I remember buying some non-HP ones 10 years ago which spewed ink everywhere and I also bought some toner and refilled a cartridge myself with pretty much the same effect.

I've looked on the web and have found one for sale for £30 which seems to good to be true. Presumably I also get a winning ticket for the Nigerian Government Lottery thrown in!

Has anyone come across a cost effective and efficient replacement for HP cartridges or should I stop whinging and go pay the higher price

Budget: Beware the damp squib

Mon, 15 Mar 2010 11:37:27 +0000

Hoping for a sea change in economic policy in the forthcoming Budget? Don't hold your breath, say the experts.

Professional advisers are preparing themselves for a damp squib of a Budget, as the date for one of the most political chancellor's speeches in recent years rapidly approaches, reports our sister site FinanceWeek.co.uk.

How to get what you want in meetings

Mon, 15 Mar 2010 10:47:49 +0000

Tired of endless meetings that don't solve anything? Jamie-Natalie Cross explains how to make the best of the meeting time you have.

False self employment: Falling on deaf ears

Mon, 15 Mar 2010 08:00:00 +0000

The responses to the consultation on false self employment in the construction industry have been published, together with comments on how government policy has changed as a result of the consultation.

However, there are several aspects on which the government is unmoved:

One ltd or two ltds

Sun, 14 Mar 2010 18:31:22 +0000

I have a client who has a catering business. He also wants to open a new Deli business, but he wants to keep his catering ltd.

What would be the best option for him: to extend his catering business or to form a new ltd for his Deli business?

His catering business doesn’t make a profit.

The location of the Deli was rented under the catering business name.

Also the catering business has some fixed assets they will use for the Deli side and they want to use part of Deli to process the food for the catering business.

Pre-trading expenses

Sat, 13 Mar 2010 07:35:49 +0000

I have various purchase invoices relating to pre-trading expenses. I commenced trade 1st December 09, and have chosen a year end of 31st March. I have registered for VAT. I am using Sage 50 Accounts for my records. Can anyone advise how I should account for these costs, and the procedure to ensure the VAT is included in my VAT return?

Pre-trading expenses

Sat, 13 Mar 2010 07:33:52 +0000

Rebecca Benneyworth’s Budget lecture live on AccountingWEB in association with Lexis Nexis

Fri, 12 Mar 2010 12:33:07 +0000

Watch the UK’s first Budget lecture by Rebecca Benneyworth live on AccountingWEB on 24 March and be the first to advise your clients on the changes that will affect them.

Want to know what the Chancellor’s Budget means for your clients? Tune in to AccountingWEB’s live stream from 2-4pm on Wednesday 24 March – right after Darling’s speech – for Rebecca Benneyworth’s Budget Summary lecture in association with Lexis Nexis.

How to celebrate your own business Oscars

Fri, 12 Mar 2010 09:20:40 +0000

The business world needs to take a tip from the entertainment industry and give its rising stars a pat on the back, says Jamie-Natalie Cross.