Jump to content
Home
Forum
Join Us
Articles
About Us
Tapestry

Accounting


 Share

Recommended Posts

I understand that most of you use the professional services for accounting purposes but some of you doing it yourself.

 

I have several questions with regards to book-keeping.

 

1. How do you judge what toys go to Assets and what toys go to Expenses?

2. How do you record books? (I know in many cases books treated as Assets, however taking into account that books do not last long in Early Years settings do you usually put them on Expenses?)

3. Grants! I know even some accountants struggle with those Grants. Some Grants are taxable some are not, some Grants related to assets and some related to income. How do you record them? Ladies and Gentlemen from Kent, how do you record resources given to you at Free For 2 seminars? Do you remember that we usually sign a for them and the letter states that those resources remain property of KCC for 2 years.

 

​I am seeing my accountant at the end of August but it would be very interesting to hear your advice.

Link to comment
Share on other sites

ok, not sure I can help then as we are a charity and due to our turnover, only keep basic accounts where we amortise everything immediately on purchase. Hopefully another sole trader will be along soon who can advise you further.

Link to comment
Share on other sites

With toys and things it depends whether they are a replacement or an addition. So books that are being bought to replace books that have been thrown away would just be replacements so I presume an expense. We have an accountant but I just know when we buy stuff he asks whether they are replacements or additions. Sorry I can't be more use!

Link to comment
Share on other sites

 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue. (Privacy Policy)