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.
- TAX, VAT and non-UK residence 497 19
- Charity accounting 258 6
- Outsourcing Payroll 71 1
- sage 97 3
- Separate Pay runs for salary and commission 151 4
- Bank Requesting clients' tax residence 1,046 13
- ATT Exam tips and study help 202 4
- NO SUCH THING AS UNQUALIED ACCOUNTANT 114 1
- FBI2 197 3
- Double entry 163 4
- Companies House 136 3
- Small house in garden 142 1
- THE PUBLIC SECTOR SUCKS 137 2
- Clients 917 18
- can a dormant company make an employer pension contribution? 285 12
- Manually amending PAYE Code Number in HMRC Basic PAYE Tools 142 5
- Accountants not providing all required information 270 4
- Director's personal expenses paid by the Company 310 5
- Sage 50 - How do I find the column headings when I export to CSV 128 5
- Is a property owner charging a peppercorn rent to a limited company acceptable 517 11
- HMRC BENCHMARK EXPENSES 537
- write off loan or loan to equity swap or both 468
- EPS and CIS deductions 327
- Sole trade business in UK, but the owner works from EU 310
- Construction CIS LLP Company 300
- Stamp duty on house transfer between spouses 295
- Tax Investigation - Employee Travel 262
- Overdrawn director account 217
- LIVE: Budget aftermath webinar 204
- Services via intermediaries and new HMRC reporting requirements 199