Turnover Certificate - has anyone done one, is the AAT qualification accepted etc?

Options
LouBT
LouBT Registered Posts: 4
in General accounting discussion
New client and I've been asked to provide a Turnover Certificate. Never heard of it before...... Is the AAT qualification accepted on such a document? What evidence of income is sufficient to verify the income, i.e. sight of the bank statements, entries within the accounting software etc? What format/information should be detailed on the "certificate"?

Any help/guidance would be much appreciated!

Comments

  • douglasstroud
    douglasstroud Registered Posts: 295 Dedicated contributor 🦉
    edited May 2021
    Options
    Who is asking for it? And why?
  • Caspar1
    Caspar1 Registered Posts: 29
    Options
    I've been asked for an Accountants Certificate Confirmation in the past. They accepted a signed copy of the 'accountant's report' page, from their last set of accounts from me.
  • LouBT
    LouBT Registered Posts: 4
    Options
    Its a requirement of their lease that an accountant verifies the turnover and is done on an annual basis.

    I believe the lease in question is not the only property occupied by the client (very new client), therefore specific income generated by the use of the property is likely and not the full turnover of the organisation.
  • douglasstroud
    douglasstroud Registered Posts: 295 Dedicated contributor 🦉
    Options
    If you done the accounts in question then should be fine to give what they require but I certainly would not be signing off accounts done by another party if as you say they are a new client
  • LouBT
    LouBT Registered Posts: 4
    Options
    YE accounts are undertaken by another practice and cover a different accounting period to what is required for the Turnover Certificate.
  • douglasstroud
    douglasstroud Registered Posts: 295 Dedicated contributor 🦉
    Options
    Well then the obvious place for your client to go is the other practice, why come to you?
  • LouBT
    LouBT Registered Posts: 4
    Options
    Because the other practice are also newly appointed to undertake the required year end audit (I'm not licensed to provide) and stat accounts, I have been engaged to provide ad hoc services, training of in-house staff, charity guidance etc., all of which is likely to be cheaper than the other practice.

    So, is my qualification accepted for a Turnover Certificate? Do I need sight of the bank statements as proof of the income along with any contracts etc? Does anyone have a template of a Turnover Certificate that they would be willing to share?

Categories

Privacy Policy