I;ve just picked up a new client with a turnover of £350k. The accountants have been done to 31/12 by the previous agent as well as the VAT. Year end is 31/3.
I'm slightly stunned that the bank doesnt reconcile and none of the in year accounting has been done apart from some payments and reecipts.
This client has come from a large high street firm of accountants. Im slightly shocked that they would complete a cash based VAT return wihtout a reconciled bank.
Is this common?
I now potentially have months of bank transactions to tick! I have written to the previous accountants to ask for the last bank rec but I have a horrible feeling this was last completed at 31/03/18. Surely the ourgoing accountants should do this.? My clients has been paying £200 per month for book keeping and VAT. Where they hav been missing a VAT purchase invoice in the past, it would seem they have created a transactions and called it 'dummy'. What is wrong with people?
Or do I let my client work it out - offer to do the work but let them know it should have been done by the previous accountant. ARGH!