Chartered accountancy.....

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:28AM in AAT student discussion
I find the actual theory work of this course quite easy. The only thing I find hard is when getting a set of clients books and records - which 9/10 times is a total mess - I find it hard to start preparing the accounts, as there is that much to sort out I don't know where to start.<BR><BR>Does anyone else do the same job, and have a structured "process" they follow for each accounts prep job ?<BR><BR>

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Chartered accountancy.....

    I think I do a similar job to you and am already in touch with Lorna who is also doing the same thing. We prepare draft accounts from clients own records via the ETB. Does this sound familiar??? <BR><BR>let me have your email address and we can keep in touch.<BR>Annette
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Chartered accountancy.....

    hi,<BR>when I receive the carrier bags, or the grubby box full of absolutley everything, I<BR>start by getting all the bank statements in order, listing the missing ones.<BR>Then I sort out out all the Sales and Purchase Invoices and record them.<BR>I then try to reconcile all purchases and sales from the bank(not easy, there are always queries) however these are listed, and when I have all these quereies together I telephone my client, he willl then try to give me answers, like Oh I forgot to give you the receipt for the new van I've bought!, basically it really is a process of illimination. But I know what you mean about not knowing where to start - a very good ex-colleague of mine put me straight on procedures, so although its initally very daunting - it does get better - good luck anyway!!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Chartered accountancy.....

    Hi there<BR>I did some work like that recently for an accountant, and I couldn't understand why it had taken me so long, but after reading your post I think that I've been doing the prep work in the wrong way.<BR><BR>I've been going down the bank statements and trying to find the corresponding invoice/receipt, and then ticking it off the statement. Should I just list all the sales and purchase invoices, and then look at the bank statement and try to match them then?<BR><BR>Any advice would be great.<BR><BR>Ann
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Chartered accountancy.....

    Thank you all for the replies. I see where you are all coming from - but do you really go through every invoice !? Today I were working on a client (for someone more senior; there is no way i would be allowed free on this job... far too big) and they had around 9 lever arch folders full of invoices.<BR><BR>

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