Which account to use

Accounting
1

Hello,

Could someone guide me to which account following costs need to go to:

  • Statement Confirmation Companies House cost
  • VAT penalty for late return
  • Delivery cost

Thanks

Mudasar

2

I would create some new nominal accounts under:-
Reports>Chart of Accounts>Create New Account>Enter specific code …save after each one is created
7805 Sundry Expenses
8207 VAT penalties
5005 Delivery Costs
There is no VAT on Companies House costs
The VAT penalty is not allowable for tax purposes but at least is visible to your Accountant in it’s own code

3

Thank you for the help.

Regards
Mudasar

4

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