Account types (only shown if different to parent type)
[E] Expense
[I] Income
[A] Asset
[L] Liability
[Q] Equity
[B] Bank accounts
[C] Credit Cards
[R] Accounts Receivable
[P] Accounts Payable
(Box n) refers to VAT form box number (I actually have these as descriptions to the account to remind me)
Add all the (Box n -part) together to get the whole (Box n) The VAT shows you liability - if its negative they owe you.
Capital Equipment (Box 7 - part) and (Box 6 - part) is the value of all *additions* (purchases) made over the VAT return period - not the absolute value, nor the difference in value unless that difference is wholly due to new purchases. Depreciation, losses (e.g a write off of faulty item) and other reductions in capital value are not included. If you sell a capital item then that sale and its VAT is recorded under Income. The asset is 'converted to cash', so the 'net of VAT' increase in your bank account, when the invoice is payed, is matched by a decrease in capital.
Bank Accounts [B]
|___ Main Account
|___ Reserve Account
Cash [A]
Assets [A]
|___ Capital Equipment (Box 7 - Part) - additions only, not absolute value
| |___ Computers Can be depreciated to zero this year
| |___ EEC reverse VAT purchase (Box 6 - Part) create sub-accounts if needed
|___ Other
Receivable [R] Customers to whom you give credit - (business section)
Cards [C]
|___ Card 1
Liabilities [L]
|___ Owed Corp Tax
|___ Owed Fees
|___ Owed Tax / NI
|___ Other
VAT [L] Net (Box 5)
|___ i/p [A] purchases (Box4)
|___ o/p [L] (Box3)
|___EEC on reverse VAT purchases (Box 2)
|___Sales all including zero rate UK/ EEC and World (Box1)
Payable [P] Suppliers who give you credit (business section)
Equity [Q]
|___ Corp Tax
|___ Director's Loan
|___ Dividends
| |___ Director1
| |___ Director2
| |___ Shareholder 1
|___ Grants (and stuff that does not count as income)
|___Opening Balances
Income [I] (Box 6 - part)
|___ Interest
|___ Misc
| ___ Sales
|___ EEC
| |____ goods (Box 8) (sub accounts as needed)
| |____ services includes software (sub accounts as needed)
| ___ UK
|____ World
Expenses [E]
|__Depreciation
|__ Emoluments
| |___ Directors Fees
| |___ NI Employer
| |___ Employee 1
| |___NI
| |___Net Salary
| |___Stakeholder
| |___Tax
|___ Other Non VAT Expenses
|___ VAT Purchases (Box 7 - part)
|___ Accountancy
|___ Bank Charges
|___ Consumables
|___ EEC reverse VAT purchases (Box 6 - Part)
| |___ goods (Box 9) (sub accounts as needed)
| |___ services includes software (sub accounts as needed)
|___ Office
|___ Phone and Internet
|___ Software
|___ Subscriptions
|___ Sundry
|___ Travel / Accom