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Bank saving accounts & investments

Bank saving accounts & investments

Does All saving accounts (cash in the bank accounts) and any sort of investments be shown on the balance sheet? 

 

 

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20th Sep 2018 14:54

Only the ones that you want to show.

You might want to keep some "off balance sheet" so HMRC don't find them.

Hope that helps.

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20th Sep 2018 15:26

There's no such requirement for sole traders.

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20th Sep 2018 15:36

Are you asking about the accounts of a company, or an unincorporated entity?

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to johngroganjga
20th Sep 2018 15:42

A Limited Company

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to DKB Tiger
20th Sep 2018 15:46

Quote:

A Limited Company

Are you an accountant? Your profile shows lots of "I have a friend ..." questions but also various "I have a client ..." questions.

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to Accountant A
20th Sep 2018 16:09

I am on a bookkeeper not as high up as you and just asking a question and have a few more, a lot of questions I get from the Net / text book but there are some only you guys know, somethings that are not in classrooms or in a bookeeping course, you now ok with my answer.

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to DKB Tiger
20th Sep 2018 16:11

No client or Friend asking just me wanting to know

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to DKB Tiger
20th Sep 2018 16:17

Quote:

I am on a bookkeeper

I'm not sure whether that makes your original question better or worse.

Let's say you have a balance sheet with a bank account included as an asset and you then remove that bank account. Does your balance sheet still balance?

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to DKB Tiger
20th Sep 2018 16:45

Quote:

I am on a bookkeeper

If you are not an accountant, you appear to have been acting beyond your capabilities. Were you insured and covered for MLR in undertaking the work in your questions here:

https://www.accountingweb.co.uk/any-answers/self-ass[***]-return

Remove the [***] the ridiculous site software adds.

https://www.accountingweb.co.uk/any-answers/income-self-employed

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20th Sep 2018 16:13

If you don't want to reply then that's ok, lots of highly qualified people out there that will.... I hope !!

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to DKB Tiger
20th Sep 2018 16:29

As AA says, if you don’t include all of a company’s assets in its accounts they won’t balance will they, unless you do something obviously wrong like treating a transfer from one account to another as an expense?

Does that answer your question?

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to johngroganjga
20th Sep 2018 16:38

Yes thank you

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20th Sep 2018 16:28

If you're a book-keeper, then preparing balance sheets isn't part of your job.

But if you are in a job where you need to prepare balance sheets, then you should know the answer to this question already. This is not a question that needs a "highly qualified" person. This is basic accounting principles.

Also, you don't get to say who replies to your queries on a public forum. Just because they haven't given you the answer you were after doesn't mean those that responded didn't "want to reply".

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