Opening Balances - Without the Accountants help???? - The Book-keepers Forum (UK)

LewisandGraves · Newbie

Opening Balances - Without the Accountants help????

ADAS · Guru

Why is the accountant refusing to help - sounds odd? To help we'd need a lot more information.

What type of business are you?
Is this your first year of trading?
What records did you keep before using Sage?
Is the business a sole trader? Ltd Co? Parnership?

It might be worth finding a local bookkeeper to help?

kjmcculloch · Guru

or a new accountant?

Kris

LewisandGraves · Newbie

He sees it as losing his job.

We are a cleaning contractors we have been trading for 25 years. The accountant has all of our records. We are a partnership.

RobH · Expert

I think you need to change your accountant.

In the absence of any opening balances, depending on the number of transaction I may be inclined to enter everything from the start of the year. At least the accountant should be able to give you opening balance TB at that point (if not you will need to look at the Balance Sheet). You will need to ensure that creditors and debtors balances match with the list of unpaid suppliers and customers ' outstanding balances at that time. Also the bank figure should include any unpresented cheques etc so do not post any cheques that were written last year but didn't go through the bank until this year.

where are you based? There are some very good bookkeepers on here who may be able to help you at a very cost effective rate.

Rob

Wella · Expert

LewisandGraves wrote:

He sees it as losing his job.

I think this should become a self fulfilling prophecy

Bill

LewisandGraves · Newbie

We noticed that the end of year figures had many things missing such as fixed assets, savings and so on. We asked the accountant to address this and he just added a new bank account which we had never heard of to make the figures balance.

I am very reluctant to use these figures as I am almost certain they are incorrect.

We are based in Stratford

kjmcculloch · Guru

If you don't trust last years year end figures then I would suggest your problems are bigger than you think. It's not just going to be a case of redoing this year. I'd suggest you find good accountant, or bookkeeper with a lot of experience.

I don't think this is something you'll be able to fix yourself.

Kris

ADAS · Guru

If the former accountant is a member of a professional body, you could allways "threaten" him with reporting him to his professional standard comittee. If he is a member then he is "honour bound" to release the information to you, providing you don't owe him any money.

RobH · Expert

Stratford upon Avon or Stratford East London. I have a client in SOA. Are you vat registered?
Is it domestic or commercial cleaning? Do you pay all your suppliers etc as you go along. Do you give your customers credit? What kind of records are you currently keeping?

Sorry for the list but I have a couple of cleaning businesses and they are relevant to how tricky a job this may be!

Rob

BudgetB · Guru

Wella wrote:

LewisandGraves wrote:

He sees it as losing his job.

I think this should become a self fulfilling prophecy

Bill

Yes it should.
Perhaps he is just trying to hide the mess he's made. Definitely sounds like time to find someone better.

Amanda · Expert

Maybe he was one of those accountants that aren't really an accountant at all, although he says hes one, and messed up totally, thus giving the accountancy and bookkeeping profession a bad name.

I would say its time to look for a new one, there are plenty of good ones about.

A

BackOfficeGroup · Guru

or maybe just Chartered! I've found them to be quite bad in my experiences.

P

attilabenko · Guru

Maybe he did not do your year end yet for the last year...if he is not doing your books every week/months than he only would have the balances from year end and if it is not done yet than he could not give you any. Just being optimistic.

ProBowlUK · Senior Member

LewisandGraves wrote:
We have set up Sage 50 half way through the financial year and our accountant has decided that he does not want to help us with the balances.
I have a very weak book keeping background therefore I do not know where to start.
Can anyone tell me what figures I need to find and how I can go about finding them?

Trading for 25 years, how long with that accountant ?
Has he been doing your monthly accounts ?    Have you paid him up to date ?
If so, those accounts and everything you have sent him, should be YOURS by right.
I would demand them on pain of legal prosecution.   furious

My guess is he hasn't kept up todate with your books.
There might be someone on the Forum, from the Stratford (London) area, who could take this on for you.
Otherwise, Google "Stratford London bookkeeper bookkeeping"

I assume this is your website : http://www.lewis-graves.co.uk/

-- Edited by ProBowlUK on Friday 22nd of October 2010 07:01:33 PM

-- Edited by ProBowlUK on Friday 22nd of October 2010 07:01:56 PM