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I am preparing a Client's accounts and Tax return but I have been told that I have to get their Bank Statements for the whole year concerned. Could anyone tell me the rational behind this ?
Tim

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By User deleted
19th May 2008 21:58

.
I hope the OP is not too junior to understand irony.

Because that would be such a waste

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By User deleted
19th May 2008 18:47

Accounts
Thanks Swiss for the coments. I am a junior accounts assistant and I do want to succeed therefore I will not allow negative coments to put me down. This is public domain and an open public domain where we accountants and aspiring accountants can discuss anything relating to our magnificient Jobs and anyone who thinks otherwise is simply a moron or using to the platform to exhibit there nincompoopness.

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By User deleted
19th May 2008 11:01

i suspect
that Tim is probably quite junior?

if so this may be a good place pick up some good tips so maybe some commentators should stop sniping and offer some meaningful advice.

that said if your seniors / managers arent approachable for help maybe its time to consider a move?

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Euan's picture
By Euan MacLennan
19th May 2008 10:57

Who has told you?
Why don't you ask him/her rather than posting a general Invitation on a public website to make speculative suggestions?

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By User deleted
19th May 2008 08:43

Interest received
The circumstances where I find that, even though the bank has been reconciled, I still need to see the bank statements are :-

EITHER
(1) The accounts year is not to 5th April (eg. it runs to 31 August 2007, so I need interest details 6 April 2007 to 5 April 2008 for the tax return, if it's a sole trader or partnership).

AND/OR

(2) The reconciliation of bank accounts includes "interest received" not stating in the reconciliation or analysis if it's "net" or "gross" - mainly an issue with Ltd Co's as I still see a few examples each year of banks wrongly deducting tax off Ltd Co bank account interest. Personally in any reconciliations or analysis that I prepare I do not use the term "interest" but rather more useful "net interest" or "gross interest" to alleviate this problem of ambiguity.

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By User deleted
18th May 2008 21:24

confused
If you've done the bank rec's shurely you've had sight of the Bank Statements already?

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By User deleted
18th May 2008 18:36

Cleint's Bank Statement
I know that. But I have done the Bank Reconciliations and everything else. The reason why the issue of the bank statement came in is because of the Tax Return. Why do I need the Bank statement for the tax return?

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