A large proportion of my clients use sage instant and line 50 for their record keeping. Most use staff or family who never had any formal bookkeeping tuition. Virtually all have been given the task of keeping the business books with only the demo package as a guide and the help menu.
This has inevitably led to considerable failings in keeping proper records such as:
1. No bank reconciliation or keeping the print outs at period ends.
2. Posting of journals through the sales and purchase ledgers leading to TB balance not agreeing to balances list.
3. Miss understanding of the difference between the nominal ledger accounts e.g. Motor vehicle Fixed Asset and Running Costs
4. Incorrectly printing Creditor and Debtor reports with the wrong settings e.g. exclude later payments.
5. Developing large suspense accounts .
6. Incorrectly posting the wages.
The result of the above is that client pays more fees to correct these errors rather than the accountant spending time and offer higher value of service on tax planning etc. Which in the longer run will increase the fee income and the client feels he is getting better value for money.
I wondered if there are other accountants have similar experiences and that more client
Software usage instruction and training should be encouraged.
- Posting Corp Tax to Sage Line 50 82 1
- Special dividends & CGT 176 1
- Director's Earnings when Drawing from Goodwill profit from Sole Trading Company sale to Ltd Company 118 1
- Networking 324 5
- Turnover on a tax return 467 10
- Are you going to Tick and Bash on 21 May? 1,209 33
- VAT refund 267 2
- Bank Interest Held by Solicitor During Divorce 260 2
- US company hiring UK citizens in UK 290 4
- Corrupt excel .XLSX file 124 1
- incorrect old p60 512 13
- What VAT to reclaim on van purchased on HP? 325 5
- Professional coaching claimable? 256 2
- IT Contractor 276 1
- Sage instant account codes 185 1
- Mobile phones, directors of micro-companies 281 1
- Cashflow forecasting software 327 4
- Letter to HMRC over 3 months ago, still no reply 1,968 19
- Companies House paper incorporation - date of birth omission 341 4
- Is there an AIA calculator anywhere 320 1