SageForum for UK versions of Sage 50- Help and support.

Hi,
I am new to Sage Line 50, and I am wondering how to enter all the money I have spent so far in setting up the business.
I will not be trading until the next financial year, but for tax reasons, Im trying to enter all the expenditures I have incurred this financial year, as a lot of it has been IT & software which I can claim 50% back on if I can do it all within the same financial year of purchase!
I have spent a lot over the months, and still have all the invoices for each cost I have incurred.
Do I need to double entry all this info somehow, on the date the invoice was paid, a credit would also go into the account on the same day?
If this is the case, how would I enter the capital I have supplied to the business? And are all these costs I have incurred, be deducted from the profits from the next financial year?
I am a sole trader, still trying to get to grips with Sage Line, and would appreciate any help relating to this in someway.

Thanks in advance,

ItsaCraig

Use Capital Introduced account with corresponding Bank; you can start up your financial year anytime; not many expenses incurred to set up a new business can be set against profit.

Am I right in saying the following expenses can be offset again profit earned...
Domain name renewals
Server Hosting package.
Software to set up business (50% within 1st year, 25% if into 2nd year)
Computer (50% within 1st year, 25% if into 2nd year)
server hosting package

These are my ongoing expenses. Surely these are offset against profit?

I dont quite understand "Use Capital Introduced account with corresponding Bank"
All of my purchase have bene made with credit card so far, which gaets paid off in full each month. I have entered all the transactions as a credit card purchase. Is this not the best thing to do?
I am a sole trader, wont be vat registered, and have selected tax code 9 for all transacations bought and sold.
Can somone just let me know what I would have to pay back to the tax man each quarter/ year? I want to make sure I am not overspending and I have kept enough aside for the tax man. Do I pay them all the vat on the products I have sold as well as a percentage of my overall profits or just a percantage on my drawings?
Should I also be keeping a record of all the vat I have paid for goods/ expenses? And would I just pay the difference between the vat I have paid out and the vatm I have chrged the customer, and give the tax man the difference between the two lots of vat charged?

As you can see, I'm new to trading, and I still have a lot of unsurities to what I need to pay back, and what I can claim back against.

Thanks for your help.

Craig