same for me
My software template puts this under sundry expenses under administrative expenses. I wasn't convinced that was the best place. Given its a gain, I wasnt sure whether under 'other operating income' would be better.
Thank you all for your replies. I've emailed the client to ask for feedback as it would be helpful to know. She's moved to a big high street firm and I do wonder why she thinks she will get a better service there when it will be an office junior doing most of the work! Her turnover is about £15k. I'm sure they will cost more than I charge.
ICAS expect their members to carry out a basic DBS check on all principals, owners and management. They require a declaration that the DBS check has been done. For the sake of £25 I've done as asked.
"As Money Laundering Reporting Officer (MLRO), you will be responsible for ensuring that a criminal disclosure check has been undertaken by each approved person prior to completing the application form. In the application form you will be asked to confirm you have reviewed each disclosure check and that no individual has a Relevant Offence."
I'm not sure you meet the criteria of 'wholly, exclusively and necessarily for the purposes of the business'. I'd say no way!!!
This is the response I had from support - "This has come up with a couple of clients in the last hour and we have made our technical team are treating this with urgency. " ARGHHHHHHHHHH
Sorry my notes do say 2018 - my mistake. Panic over!
The accounts will not be looked at by anyone for any reason. I just want to ensure that they are compliant and
not misleading. Simplicity is good!
No-one else preparing Micro Accounts?
I've asked my institute technical help but they 'can't advise on matters of judgement' - as useful as a chocolate teapot!
How would you calculate the provision? The director wants to use a % of sales. I'd like to see that backed up by some actual cost incurred as a % of sales. However the current provision is about 10% of sales. The travel costs for all work (not just remedial work) are only about 4% of sales.