Member Since: 14th Feb 2009
18th Apr 2013
It all depends on
Which sector, what size of business, the seniority of the role etc. I did the opposite, and found it to be completely different.
As an industrial accountant you become an expert on that one company. You can lose touch with changes in tax law and accounting standards if they don't apply to your firm. I found I was spending 90% of my time managing, and little on hands-on accountancy.. I was responsible for the accounting and financial control, but once you get procedures and controls in place the job is more or less done. You do the same thing depending on the day of week or time of month. There is often a battle between different departments. 'Budget, you say? What's that then?'
On the plus side, there are challenges in management reporting, forecasting and cash management that can really keep you on your toes. You can dig deep into trends, and see improvements much more readily than working remotely for a client.
Skills in management information systems and cash control are crucial.
10th Apr 2013
Complete form AA01, which can be done very quickly online. Accounts with incorrect dates are rejected.
19th Feb 2013
File online, print the confirmation (screen dump) and download the completed return with the sumission ref as proof of filing.
17th Jan 2013
Moneysoft does this
which of the programs mentioned peviously [ excl sage ] have
* a department structure, and
* can be linked to SAGE
have the following setup:
client runs 10 shops, ie each a department
weekly payrolls for staff some full most part/shift
monthly for managers
and monthly for head office/ management
with the running of weekly on 4 -5 4 basis + monthly's on last day of month
interetsed in Boards views
I'm not sure about other software programs but Moneysoft handles departments, different pay periods and shifts, and you can set up your Sage nominal codes within Moneysoft to easily export payroll data in the correct format (I've not tried that, but it is possible).
21st Nov 2012
I use VT for bookkeeping and final accounts, Taxcalc for all tax returns and Moneysoft for payroll.
VT will export personal and partnership info to a lot of tax packages. Taxcalc Pro suite cost £400 + VAT and will do SATR, CT600 and partnerships. Moneysoft makes payroll easy for £112 + VAT pa. All can be used for an unlimited number of clients.
I've only had to use VT's helpline a couple of times in the last 3 years, and they've been excellent. Taxcalc were very helpful with a couple of questions I had. Moneysoft hasn't thrown up any problems in 4 years.
All are easy to use, although with any software there is the odd moment of wondering 'how on earth do I do that!' and 'Oh wow, wish I'd discovered that function three months ago.' Or maybe that's just me.
As a sole practitioner I don't feel I'd gain much with integrated software, but the one thing lacking is a CRM/workflow management/practice management element.
13th Nov 2012
I avoid the problem
I don't see a good enough reason to allow clients use my home address as their registered office. I work from home, but it is primarily my private space.
If clients are not happy using their own home as their registered office, I'm not comfortable with them using mine.
I've never had a problem with this, and clients either use their own home or buy an address somewhere else. I lose a small fee for administering the reg. office address, but it's no big deal.
13th Nov 2012
I bought Cute PDF pro, very cheap and good for more than just printing to PDF. I think it was around £35 a couple of years ago.
I use it for doc security, form fillling, combining PDFs, rearranging pages etc. It's been well worth the money.
Before that I used PDF 995, no problems with it apart from the ad that popped up every time.
3rd Oct 2012
I was in the same boat a while ago, and resigned my ACCA membership. Although I did work for a CIMA qualified person, so could have gained a PC if I'd really wanted to. I fully understand ACCA's stance.
Haven't missed ACCA membership, but I did get a practicing licence from AAT instead, and get plenty of support, relevant resources and CPD from them.
I do still follow ACCA's CPD requirements so that I can reapply for membership if circumstances change.
occca is right though, moving from industry to practice is a huge learning curve, especially if you're going it alone. I wouldn't want to work without some kind of professional support.
19th Sep 2012
Gilly - why go to all the trouble of printing and consolidating when Companies House will send you a pdf document for free at the click of a button?
It's just what works for me. It means that the annual return is done, and the client is reviewing the current data (already amended for SIC code changes etc.), then once authorised all I need to do is submit it.
18th Sep 2012
Just print each page
The Co Ho annual return is a pain, but it's easy enough to print off, you just have to do each page individually. If emailing to client for approval I print each page to PDF, then consolidate the pages with my PDF software, and send as one document. Takes less than 5 minutes.
I wouldn't submit a return without an authorised signature under any circumstances.