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.
- How to prove income for a mortgage if you have no SA302s 561 7
- If I repay my Directors loan, will I haveto pay tax on the profit ? 952 19
- Capital repayments 91 2
- Purchase of shares and goodwill 305 10
- Capital Allowances on Furnished Holiday Lets Business 243 5
- CT return error message 119 5
- Audit rules 263 7
- I know this has been done to death but IRIS / DIGITA / CCH??? 557 10
- VAT Payable on Expenses for Non-VAT Registered Ltd Co 254 1
- Data transfer from Sage Line 50 to VT Transaction+ 261 1
- Sales Commission to Employees / External Companies 45 1
- Payroll software with annual pay period? 286 2
- Inheritance Tax and Capital Gains Tax 81 1
- How do you value an internet based business 841 11
- Apologies for reposting this but first post was on Friday afternoon! 161 1
- business entertaining deductibility 281 2
- Flat Rate VAT 180 1
- SA302 421 8
- Suppliers for Online Card Payments? 434 8
- Can anybody help withe the RTI end of year process? 507 5
- Xtuple 530
- Qtac payroll for bureau 360
- Confused - Professional Association a Mutual trader, or not? 303
- Industrial & Provident Societies 300
- Why would HMRC offer to close an investigation by contract settlement 231
- Domain name sale and limited company 186
- CIS schemes 186
- Investment 164
- Director legal fees in loose connection to the company 161
- Italian friend wants to set up a UK company to reduce taxes 142