potential client - farmer

I have had an email from a farmer to do their bookkeeping, is there anything unusual about doing bookkeeping for farmers, just so that I am prepared beforehand.
Fingers crossed could be my first cline.
Fingers crossed could be my first cline.
Comments
Thats a bit concerning.
So I should be okay if I stick to just bookkeeping?
okay thanks for the advice.
I had to use it for a year, and never totally got to grips with it :blushing:
Claudia
Hi Lorraine,
We briefly spoke on the phone the other week
Congratulations on your first client.
With regards to the farmers book-keeping, nothing to worry about.
I worked in the rural services dept at my old firm of accoutants.
Most farmers still have a manual book-keeping system, some have moved on to Sage or Quickbooks or even farmplan as previously mentioned.
Any problems feel free to e-mail me i am always happy to help.
Regards
Barry Gould:001_smile:
I remember talking to you the other week, and did notice your post below, good luck with everything!
hopefully soon I want it soooo badly!
I'm concerned now, I do farmers tax returns and accounts at work all the time, what's so specialist about it? I prepare the tax comps the same as any other sole trader, am I missing something?
Capital gains would be quite extensive though with the land side of things!
I thank you in advance for your help!
Or do the items listed be put as expenses?
We always post veterinary expenses etc. as cost of sales in the P&L.
Is your farmer using the herd basis or normal closing stock method?
The purchase and sale of the actual livestock is also accounted for in a standard fashion and then the livestock themselves valued as stock at the period/year end.
I have also PM'd you
Burg
He has only traded for one year and hasn't specified a method as yet, I believe it to be best to use the normal closing stock method.
Thank you Burg for this reply and your help.
My thoughts are that the alpaca's are assets to the business -ltd comp, I don't think they would be fixed assets lol, what would they be called????.....sorry for all the questions!
please note the alpacas were bought in the first year of trading and paid for from the farmers personal ac
therefore i have posted as follows
dr vat
dr asset
cr capital ac
therefore i am left with bal on the asset ac and dont know wheter it is correct to put this in the fixed asset part on bal sh, please correct me if this is wrong
i.e.
Cr DLA
Dr VAT
Dr Livestock purchases
Then at the year or period end:-
Dr Stock (Bal Sheet)
Cr Closing stock (P&L)
You should need a double entry of:-
Dr purchases
Cr closing stock (P&L)
to get to the correct position assuming you mean assets to equal stock in the balance sheet.
As before, you have my details just let me know if you want more help.
Ian
Burg
Burg