Double entry rules impact after VAT submission

Double entry rules after VAT submission.

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Hello everyone,

I just recently started bookkeeping for the clients. They are from different industries (IT, Retail, Construction) My day-to-day responsibilities are the purchase, sales invoices then bank payment & receipts. Once my bank payments & receipts part finished, I do bank reconciliation. 

I know double entry rules but just confused that since we have a software (SAGE 50). I am not understanding few things such as if I do expenses or purchases what would happen in trial balance and balance sheet? 

I am not understanding why I need to focus on double entry when SAGE 50 doing my job? Is it really necessary to focus each entry during your bookkeeping? I only focus on supplier/customer details, the dates, VAT (Gross/net), and nominal code. I never worked after VAT submission so need your suggestion.  

Can I get a website or books where all entry I can find including prepayment/accruals and wages?

 

Regards, 

 

Replies (10)

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By Ruddles
07th Sep 2018 18:59

Quote:
Can I get a website or books where all entry I can find including prepayment/accruals and wages?

Is that you, Yoda?

Try Frank Wood

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By SXGuy
07th Sep 2018 22:22

Not to sound harsh but if your reconciling transactions against purchase/sales and don't understand what double entry means, I think you should stop until you do know.

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By andy.partridge
07th Sep 2018 22:30

Ask your manager. That’s what they’re there for. Clearly you are in need of far more training than this forum can provide.

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Replying to andy.partridge:
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By oba_sa84
07th Sep 2018 22:59

why did you reply to 'julyaugust' 23rd Oct 2017 20:11? Why you did not advice him/her same thing that you told me?
If you cant help someone, then don't waste your time to insult someone.

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Replying to oba_sa84:
By Tim Vane
07th Sep 2018 23:41

oba_sa84 wrote:

If you cant help someone, then don't waste your time to insult someone.

Don’t be such an ingrate. Nobody insulted you, Andy was helping you. You need to ask your manager or superviser these questions. You are way out of your depth so stop snapping at somebody who is politely telling you to get some training.

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Replying to Tim Vane:
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By oba_sa84
07th Sep 2018 23:57

wowow again another clown entered to teach. Listen, if you suggest other people post, it means you can also suggest me but if you come here for lecturing then better is don't waste your time. I asked my managers/supervisor but they have so many things to do.

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Replying to oba_sa84:
By Tim Vane
08th Sep 2018 07:27

Quote:

wowow again another clown entered to teach. Listen, if you suggest other people post, it means you can also suggest me but if you come here for lecturing then better is don't waste your time. I asked my managers/supervisor but they have so many things to do.

No, I rather suspect that your manager/supervisor finds you to be annoying and rude and wants to have nothing further to do with you. That’s certainly the impression you are making here.

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Replying to Tim Vane:
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By oba_sa84
08th Sep 2018 08:06

To be honest I have the same impression about you all guys. You don't understand my Qs or have no enough knowledge so that's why you reply without using your brain. It's my post and my choice. You can ignore my post if you don't want to comment, I am not forcing you to help me.

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Replying to oba_sa84:
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By andy.partridge
08th Sep 2018 20:43

Can you remember what you were doing on 23rd Oct 2917 20:11? No, me neither. Odd then, that you seem to remember what I was doing. Creepy even.

Your reason for not asking your manager was wrong, ridiculous and a bit sad.

I gave you good advice. You could have ignored it, as you have urged others to ignore your comments. Just because you don’t like the advice it doesn’t stop it being good advice. See, that’s even more advice for you. You’re welcome.

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By thomas34
08th Sep 2018 16:39

To the O.P. - just buy a book on double entry. For under £10 you'll at least stand a chance of understanding what Sage does to your "single entry" in order to post the double entry. If you don't bother you'll never find out how to use the nominal journal part of the program. And yes, your attitude does stink.

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