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.
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- no utr 189 8
- client can't/won't pay 2,074 49
- Designated sole Residence 9 1
- Director drawings 561 32
- Tax Returns for non residents 236 2
- Investment properties/freehold land 34 1
- Capital Loss 59 3
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- Capital allowances on transfer of business 82 2
- Clothing 469 11
- Selling Capital Allowences from Self Employed to Ltd Buisness 208 8
- File Abbreviated LLP accounts online? 150 7
- Practice management 429 8
- Interest on pre-letting? 121 4
- Pounds Shillings and Pence 1,679 44
- Will simplified micro entities accounts result in loss of business ? 1,700 22
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- Underpaid VAT assessment and relation to SATR 659
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- Cashback for opening business bank acct = trading income? 429
- Auto Enrolment Questions Answered 320
- Scratch Head 256
- Loan benefit after person ceases as director/employee 245
- Sabbatical payments 210
- Negligible Value Claim 188