Accounting Advice

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blakeyboy89
blakeyboy89 Registered Posts: 14 New contributor 🐸
in AAT Level 4 (Level 8 in Scotland)
My friends mum has just bought out a cafe and is going to be running it as well as being the chef there.

Now she knows that im studying AAT and wondered if I could do her accounts for her, but as I don't work at an accounting firm I don't think I have the right experience to do so.

Am I able to do this even though I'm not yet a full member? If I did, what would be a typical period end routine if she's registered for VAT Cash Accounting? And do I need to report to a body to say that I will be her accountant so to speak?

Thanks in Advance,

Aaron.

Comments

  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
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    Are you sure you are ready for this?

    You could always try and do the bookkeeping etc to reduce the final accountancy bill but you would be unwise to take on the whole lot without some experience or someone to refer to.

    There are quite a few different VAT rules to do with cafes which you will need to be aware of.

    If you decide to do it make sure you get some indemnity insurance.
  • blakeyboy89
    blakeyboy89 Registered Posts: 14 New contributor 🐸
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    I'm not too sure now :001_unsure:

    I think it might be best to just tell her to go somewhere else.

    I think I just saw it as an oppurtunity to gain some experience in accounts rather than computerised accounts to count towards full membership.

    I'll have a word with our accountants to see if they can help in any way.

    Thanks.
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
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    I think that is an excellent idea, you get the experience but the buck stops with someone else!!

    You often find that friends are after a cheap job by asking you which has it's dangerous issues!!!

    Good luck.

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