How to transfer money from Halifax bank account to paypal account?
I have a paypal account and Halifax bank account. I need to transfer money from my bank account to paypal so I could make payments for ebay. However I can't figure out how to do this, I can't find any options on my bank account. I appreciate any help, thank you!
Personal Finance - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
You do this through the Paypal site. Log in, and follow the instructions clearly indicated.
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Thursday, November 28, 2013
Thursday, November 14, 2013
My company was victimised by a fraudulent accountant and I am not sure what to do?
My company was victimised by a fraudulent accountant and I am not sure what to do?
He is not a qualified accountant to practice the profession. He used my company and did many dodgy things and started a new accounting firm. I am afraid to complain to Inland Revenue as it may put my company in red. Recently he got some visa problems and leaving this country along with many clients and telling that he can do their accounts from abroad. I don't know his client list to alert them. What should I do and whom should I complain and how can I sort my own accounts? Please help me and guide me.
Small Business - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Report him to the Institute of Chartered Accountants as a start it sounds as if he is acting illegally
Answer 2 :
Did he claim to be qualified when you employed him? If so, then reporting to the body he claimed to be qualified with, or trading standards may be an option. You can't really protect anyone else unless approached for a reference, or until a criminal conviction is obtained - otherwise the local newspapers would be full of such stories of complaint. To sort yourself out, hire a properly qualified accountant. There is a lot of regulation that accountancy firms have to comply with. Either approach an institute directly, or look in the yellow pages for the group adverts under the ACCA or ICAEW banners.
Answer 3 :
Contact your company solicitor and ask for advice. There's no getting around this and you will have to make statements to the IRS and probably the police. If you had truly no knowledge that he was unqualified before working on your accounts, you will be okay but an independent audit will need to be carried out and you will be liable to pay any outstanding taxes. The best thing is to co-operate as fully as you can. If you are asked a question to which you do not know the answer or you do not remember, just say that. Don't make anything up, even to get this guy convicted. It could backfire on you. There are some good accounting packages such as Quicken and Sage that are useful. But you'll probably still need and accountant to give them the 'once over' at the end of the financial year. Best Wishes.
Answer 4 :
How do you know he did 'dodgy' things? What was dodgy about them? Sorting out the mess starts with getting your business information from all taxing authorities and suppliers. They will know what your company owes them and can give you a current statement. As for putting your company in the red - it's best to know sooner than later. contact the Inland Revenue and let them know you are concerned about some of the practices of your previous accountant. Ask for their help, they'd much prefer you have a going concern that earns profits (and therefore gives them tax money) than see you go under.
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He is not a qualified accountant to practice the profession. He used my company and did many dodgy things and started a new accounting firm. I am afraid to complain to Inland Revenue as it may put my company in red. Recently he got some visa problems and leaving this country along with many clients and telling that he can do their accounts from abroad. I don't know his client list to alert them. What should I do and whom should I complain and how can I sort my own accounts? Please help me and guide me.
Small Business - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Report him to the Institute of Chartered Accountants as a start it sounds as if he is acting illegally
Answer 2 :
Did he claim to be qualified when you employed him? If so, then reporting to the body he claimed to be qualified with, or trading standards may be an option. You can't really protect anyone else unless approached for a reference, or until a criminal conviction is obtained - otherwise the local newspapers would be full of such stories of complaint. To sort yourself out, hire a properly qualified accountant. There is a lot of regulation that accountancy firms have to comply with. Either approach an institute directly, or look in the yellow pages for the group adverts under the ACCA or ICAEW banners.
Answer 3 :
Contact your company solicitor and ask for advice. There's no getting around this and you will have to make statements to the IRS and probably the police. If you had truly no knowledge that he was unqualified before working on your accounts, you will be okay but an independent audit will need to be carried out and you will be liable to pay any outstanding taxes. The best thing is to co-operate as fully as you can. If you are asked a question to which you do not know the answer or you do not remember, just say that. Don't make anything up, even to get this guy convicted. It could backfire on you. There are some good accounting packages such as Quicken and Sage that are useful. But you'll probably still need and accountant to give them the 'once over' at the end of the financial year. Best Wishes.
Answer 4 :
How do you know he did 'dodgy' things? What was dodgy about them? Sorting out the mess starts with getting your business information from all taxing authorities and suppliers. They will know what your company owes them and can give you a current statement. As for putting your company in the red - it's best to know sooner than later. contact the Inland Revenue and let them know you are concerned about some of the practices of your previous accountant. Ask for their help, they'd much prefer you have a going concern that earns profits (and therefore gives them tax money) than see you go under.
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Thursday, November 7, 2013
Accounting-debit/credit entries for bad debts, provision for bad debts and debtors?
Accounting-debit/credit entries for bad debts, provision for bad debts and debtors?
My book doesn't answer these questions. I mean I am asked to adjust the provision for bad debts to 10% of the closing debtors which increases my provision by £300, so thats a credit entry, right? then what? does that go in the Income statement and increases bad debts or does that reduce my debtors? And another question, extra bad debts-dbt bad debts expense, does that mean i need to credit the debtors? if you can answer these questions and if you have any other things about this which are essential to understand the bad debts stuff, I would be really grateful. Thanks a million.
Higher Education (University +) - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
By increasing your bad debt provision (in the balance sheet) by £300 you are right in stating that the credit entry in the balance sheet is to post £300 to your bad debt provision account. The debit entry for £300 will be posted to the bad debt account in the profit and loss account (income statement). As far as the second part of your question is concerned you must differentiate between a bad debt provision (as described above) and a bad debt write off. A bad debt provision is merely providing for any possible future bad debts in compliance with the prudence concept. These bad debts may not actually materialise and you may in future periods actually reduce you bad debt provision. This would lead to the opposite effect to what was described above, ie. a debit entry in the bad debt provision account and a credit entry in the profit and loss account. However, with a bad debt write off you would credit the debtor account directly (ie. make no entry at all in the bad debt provision account). This will reduce the debtor balance permanently. The debit entry would, however, be the same as in the bad debt provision scenario, ie. a debit entry to the bad debt account in the profit and loss account. I hope the above makes sense.
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My book doesn't answer these questions. I mean I am asked to adjust the provision for bad debts to 10% of the closing debtors which increases my provision by £300, so thats a credit entry, right? then what? does that go in the Income statement and increases bad debts or does that reduce my debtors? And another question, extra bad debts-dbt bad debts expense, does that mean i need to credit the debtors? if you can answer these questions and if you have any other things about this which are essential to understand the bad debts stuff, I would be really grateful. Thanks a million.
Higher Education (University +) - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
By increasing your bad debt provision (in the balance sheet) by £300 you are right in stating that the credit entry in the balance sheet is to post £300 to your bad debt provision account. The debit entry for £300 will be posted to the bad debt account in the profit and loss account (income statement). As far as the second part of your question is concerned you must differentiate between a bad debt provision (as described above) and a bad debt write off. A bad debt provision is merely providing for any possible future bad debts in compliance with the prudence concept. These bad debts may not actually materialise and you may in future periods actually reduce you bad debt provision. This would lead to the opposite effect to what was described above, ie. a debit entry in the bad debt provision account and a credit entry in the profit and loss account. However, with a bad debt write off you would credit the debtor account directly (ie. make no entry at all in the bad debt provision account). This will reduce the debtor balance permanently. The debit entry would, however, be the same as in the bad debt provision scenario, ie. a debit entry to the bad debt account in the profit and loss account. I hope the above makes sense.
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Friday, November 1, 2013
How are investors protected in the UK from companies who manipulate their figures in their financil statements?
How are investors protected in the UK from companies who manipulate their figures in their financil statements?
For example in France, the accounting system is incorporated with the fisc. So there is less chance for French companies to cheat or not pay their taxes because it's more regulated. But in the UK, the fisc and accounting are two different entites. Both fisc and accounting are not part of the government unlike in France. So how are investors protected in such a way that companies presente the right figures and pay their taxes as they should? Thank you in advance.
Other - Business & Finance - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Generally, UK standards are based on US ones = and In UK, HMRC (the Taxman) enforces them ..
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For example in France, the accounting system is incorporated with the fisc. So there is less chance for French companies to cheat or not pay their taxes because it's more regulated. But in the UK, the fisc and accounting are two different entites. Both fisc and accounting are not part of the government unlike in France. So how are investors protected in such a way that companies presente the right figures and pay their taxes as they should? Thank you in advance.
Other - Business & Finance - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Generally, UK standards are based on US ones = and In UK, HMRC (the Taxman) enforces them ..
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