Newbie in need of help!

Moobag Registered Posts: 59 Regular contributor ⭐
I am a full member in practice and have been for 2 years now. I have had an industry background rather than an accounting background.

I have no trouble at all in doing sole trader & partnership accounts, but just recently have had a couple of enquiries about Ltd companies which I have turned down as I was advised by an accountant that is was too fiddly to get into!!!!

I wondered if someone could give me some pointers as i'm not sure what to do. I feel confident enough to do Ltd accounts but am wondering if there is software I may need to buy or other things I need to think about before I decide to take on Ltd company accounts!

Any help would be greatly appreciated


  • Poodle
    Poodle Registered Posts: 711 Epic contributor 🐘

    I would not use the word 'fiddly', 'more complex' and it certainly would be a chalenge with the AAT qualification. But not impossible as there are many AAT MIP's that offer this service, myself included. But I do keep to SME's that fall within the FRSSE.

    There are software products that enable accounts to be developed, usually from a TB and CT software as well, but it does not come cheap. I use the Sage Accounting Suite as it is a product that I am familiar with and they offered a payment plan that was really useful when I started out, There are other products out there but I cannot comment on them. There is a live trhead on errors on accounts on the MIP forum that you may like to read.

    The Accountant that you spoke to, is he not able to support you in any way? Possibly on a subcontractor basis or you may have to offer your services FOC.

    That aside, you may have problems adding this type of service to your MIP license if you have no experience only theory, (a chicken and egg situation).
    Good luck to you if you do, but be careful.

  • djDougs
    djDougs Registered Posts: 16 New contributor 🐸
    nothing different, just got shares and the 'capital/drawings' ac goes
    through Dirs Loan ac instead. The notes are a pain :huh:
    the corp tax, defd tax is also
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