Public house and till rolls

Public house and till rolls

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I am a book keeper and my client produces a wekly cash balance sheet which I process onto computer along with all the bank and supplier invoices. I never get to see the till rolls and have to assume the sales shown are correct. Should I just leave it as red that he has recorded those correctly or am I expected to check these. He is a sole trader. Any advice would be welcomed thanks
Pedro

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By AnonymousUser
03rd Mar 2009 13:45

Cashsheet balanced ?

so by posting the GIVEN sales figures [ whether they relate to daily Z's of the till rolls or not ] the weekly cash sheet should self- cash balance

ie sales advised [ food liquor machine cigs etc ] incl vat
less cash / till payements [ receipted of course] [ say milk minor deliveries etc ]
+/ - any deposits received paid ..... say re functions
+ /- any accounts [ debtors tabs] which should not really be allowed [ ie control ]
+ /- any cash shortfall [ which should be very small...otherwise.....


should equal the squared / net cash position

this is cash banked during the week relating to it - plus
credit card values due

these items are then reconciled to the BANK


if you are not being given the access to test check the pdq transaction either... i would suggest that there is possibly buying in and other actions occuring [ pdq refunds / credits...]


any thoughts on EPOS to the accounts to cut out the sheet processing

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By jay1962
03rd Mar 2009 12:40

Till Rolls
This is quite common in the Public House trade, the bookkeeper is often presented with a weekly cash sheet/running sheet or "journal". The rationale behind this system is for cost, if you had to reconcile & record the till rolls, it would add a significant amount to your client's cost as well as to add significantly to your time.

You are entering information supplied by the client and not being requested to provide an opinion on the accounts and or financial statements. The onus is on the client to declare his world wide income and to not participate in tax evasion on either direct or indirect taxation.

It may also be prudent to ensure the client signs the VAT Return or any other HMRC document which is a generally accepted practise. The only responsibility you would have would be to prepare the VAT Return with a reconciliation to support the VAT Return.

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By skylarking
03rd Mar 2009 09:57

Responsibilities
If your responsibilities include accounting for the sales correctly then you would need to see the till rolls, but if your responsibility is to account for the records as supplied by the client it is a different matter.
I think the important thing is to ensure that the accountant is aware that you have not seen the till rolls.

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By JCresswellTax
03rd Mar 2009 09:19

Letter of Engagement ?
What does your letter of engagment say about the work you will carry out ? Could you add in a paragraph to cover this ?

Also, you could include a disclaimer in the accounts.

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