HELP!!!

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hi All,<BR><BR>i have been asked to write a bullet pointed list on how you do a set of accounts.<BR><BR>i dont no where to start and as i do not work in practice i have no clue!<BR><BR>could anyone please help <BR><BR>

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    HELP!!!

    <BR>Depends where you're starting from.<BR><BR>If you are doing a set of accounts for someone who keeps their own accounting system, then you would simply take their trial balance and turn it into a set of accounts. <BR>You would then check tax-sensitive accounts such as sundry and repairs and make sure that depreciation on fixed assets, accruals and prepayments had been done properly.<BR><BR>If you are doing a set of accounts for someone who keeps no records, you would take their bank statement and create a cashbook which you would then turn into a trial balance and continue as above.<BR>For this you would definitely have to do a fixed asset register with depreciation yourself, as well as debtors, creditors, accruals and prepayments.<BR><BR>Hope that helps...

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