Shoebox full of paper work

Shoebox full of paper work

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I have recently started up and all my clients so far have presented their bookkeeping in a decent state.  However I have just received my first shoebox of paperwork.  How much detail should I go into with sorting it all out? I believe I should  cross check all the invoices /receipts with what has gone through the bank.  Does everyone cross check like this or do you just try and post off the bank statement.    I am concerned that it is going to take me a long time to sort it out.  Also what if receipts are missing? Do I still post the payment but inform the client in writing to cover myself and advise for the future?

Any advice would be gratefully received

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By User deleted
11th Feb 2010 15:41

cheque books Peter

I would assume that the client would have cheque books and I am aware that there would be many blank stubs but there would be some filled in.

The point Peter is, that the Bank account is independent evidence of tranactions.Invoices unless they have the clients name on are not they could have been found in the street or paid for in the pub.

Anyway I have given my opinion and I expect that some of the people of this site will agree with you and some with me  but sadly HMRC take a dim view of accountants who do not prepare some sort of cash and bank reconcilations.

My last posting off to the pub.

 

 

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