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Suffolker


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Asset Depreciation...
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I was just wondering if a bookkeeper normally does the asset depreciation or if the accountant does?

Many Thanks

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Gemma12


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Hi

In my experience it has always been the accountant that does the depreciation entry, along with the other year end adjustments - accruals, prepayments, provisions for bad debts

but as long as you provide the necessary working papers I don't see anything wrong with the bookkeeper doing them - it'll save your clients' money as accountants tend to charge a lot more for their time than bookkeepers do

Gemma

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Suffolker


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Thanks Gemma :) I was just wondering because I'm currently studying it and it seems quite difficult! How about the trading and profit and loss account?

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Gemma12


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the TP&L is also normally done by the accountant who will then make the necessary adjustments for completion of the tax return, as things like depreciation aren't allowed for tax - instead capital allowances are claimed

Gemma

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