I am Admin and Finance Director of the management Co for our marina estate. When I took over there was no FA Register; however there was evidence in past invoices of purchases, such as an outboard motor, that no longer existed. With no record of assets there is no way of knowing where they went. Even if written down to nil, they should be left in the register until actually disposed IMO.
The items are a quiz sheet, produced by the charity, which is sold for £1.50 and there is a prize draw at the end for 100% correct answers or nearest if none; only about 20% of those sold are returned. The items therefore have no residual value. The scheme has, I gather, been checked for lotteries act compliance.
When I was still a commercial accountant our accounts clerk used to take about 1.5 days to manually collate and then compile the accounts pack, using a TB extracted from the ERP system. During a lull in my workload I spent about the same amount of time automating the process, using ODBC and macros. The resulting pack took about 15 seconds to run and could go backwards as well as forwards, so any historical queries could be looked at after month end.
I learned the value of macros in our original Lotus123, in which they could be typed into a cell and invoked from within the workbook.
This is one of the first principles of VAT that I ever learned, about 38 years ago! The deposit for HP agreements was always '10% + all the VAT', on the basis that the purchaser would reclaim the latter and could otherwise be better off.
During my recent period was a benefit claimant I was asked to do user testing for the new Universal Credit system. Two young chaps had come up from London to run the tests and recorded everything that was done and said.
Because I have been in and out of work over several years I have overpaid tax a couple of times. To be fair HMRC seem pretty good, if a little tardy, at paying it back. However having 'done the sums' a 'phone call usually speeds up the process.
Dr Cash with consideration
Cr Share Cap. with shares at quoted value.
Cr Share Premium a/c with difference
(Unless the rules have changed; not practised for a while!)
If you are experienced with Excel why not use that. There will be detractors but I worked for a multi-million Euro company with factories in three countries and four currencies and we still did all the accounts through Excel!
My answers
I am Admin and Finance Director of the management Co for our marina estate. When I took over there was no FA Register; however there was evidence in past invoices of purchases, such as an outboard motor, that no longer existed. With no record of assets there is no way of knowing where they went. Even if written down to nil, they should be left in the register until actually disposed IMO.
The items are a quiz sheet, produced by the charity, which is sold for £1.50 and there is a prize draw at the end for 100% correct answers or nearest if none; only about 20% of those sold are returned. The items therefore have no residual value. The scheme has, I gather, been checked for lotteries act compliance.
When I was still a commercial accountant our accounts clerk used to take about 1.5 days to manually collate and then compile the accounts pack, using a TB extracted from the ERP system. During a lull in my workload I spent about the same amount of time automating the process, using ODBC and macros. The resulting pack took about 15 seconds to run and could go backwards as well as forwards, so any historical queries could be looked at after month end.
I learned the value of macros in our original Lotus123, in which they could be typed into a cell and invoked from within the workbook.
Well they (still?) teach basic algebra, without which Excel would be a no starter!
This is one of the first principles of VAT that I ever learned, about 38 years ago! The deposit for HP agreements was always '10% + all the VAT', on the basis that the purchaser would reclaim the latter and could otherwise be better off.
During my recent period was a benefit claimant I was asked to do user testing for the new Universal Credit system. Two young chaps had come up from London to run the tests and recorded everything that was done and said.
I wonder whether HMRC ever do the same?!
Because I have been in and out of work over several years I have overpaid tax a couple of times. To be fair HMRC seem pretty good, if a little tardy, at paying it back. However having 'done the sums' a 'phone call usually speeds up the process.
Dr Cash with consideration
Cr Share Cap. with shares at quoted value.
Cr Share Premium a/c with difference
(Unless the rules have changed; not practised for a while!)
If you are experienced with Excel why not use that. There will be detractors but I worked for a multi-million Euro company with factories in three countries and four currencies and we still did all the accounts through Excel!
As long as suitable insurance is in place surely no different than business use of a private car?