use of home as office

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Nicky321
Nicky321 Posts: 1,426 Forumite
in Small biz MoneySaving
How would i enter a recurring weekly amount crediting 2301 and debiting 7200 in sage? I need to enter this from June 2016 to date, and thought there must be an easier way instead of having to enter each individual entry.

Thanks in advance x

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  • c-m
    c-m Posts: 770 Forumite
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    I just charge it as an expense once a year. Sorry I don't use Sage so can't help you with your journals.
  • trailingspouse
    trailingspouse Posts: 4,035 Forumite
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    Ditto - I think last year we could deduct the princely sum of £208 for the fact that we use one of the bedrooms as an office. Never got along with Sage, so can't help with that.
    No longer a spouse, or trailing, but MSE won't allow me to change my username...
  • theonlywayisup
    theonlywayisup Posts: 16,031 Forumite
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    Nicky321 wrote: »
    How would i enter a recurring weekly amount crediting 2301 and debiting 7200 in sage? I need to enter this from June 2016 to date, and thought there must be an easier way instead of having to enter each individual entry.

    Thanks in advance x

    When we had a home office (now in premises away from the house) we used 7100 as a rent for a single payment from the business each year. 7200 is for electricity.

    You don't debit 7200, 7200 is a nominal code. It is the code you use against the transaction.

    Why are you crediting a Director's loan account subsidiary?

    The easiest way to record it is to use the bank account that is being debited, record a payment and use the NC 7200. Assuming the payment is going to a private bank account, there would be no journal credit showing in Sage.
  • theonlywayisup
    theonlywayisup Posts: 16,031 Forumite
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    eggha wrote: »
    ? OP wants to claim an expense incurred from the use of the home as the trading premises. Therefore it is of course a Debit to an expense account, it cannot be anything else. 7200 is "heat & light" which is usually used as the generic code for electricity/gas/other fuel/power costs

    since OP is themselves paying for the cost from their personal (non business) bank account then it also cannot be anything other than a Credit to the DLA since that represents "money" injected into the business by its owner: DR expense (P&L) CR liability ie DLA (balance sheet)

    I guess we will agree to differ then. We don't use 7200 as I said, we used the NC for rent 7100. Having had a VAT inspection and been trading for over 30 years I can guess that we've been using Sage and recording it in that way for about 18 years or so. Not now but up until about 2013.
  • rhysadams
    rhysadams Posts: 303 Forumite
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    I would do the charge at the end of the year, your accountant should do this for you.
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