We have been looking into releasing a series of in depth Technical articles for specific book-keeping and accounting topics. A recent post about Business Rates and Relief's has made us think that general business advice is also a topic that bookkeepers deal with on a daily basis.
In our opinion, and as professional bookkeepers in practice, it would beneficial to have a knowledge of the most common questions that your clients and potential clients may encounter.
Therefore we would like to know the subject areas, outside of book-keeping and accounting, that you get asked you get opinions on most commonly.
Examples of general business advice articles that we are currently looking into are:
1. Business Rates and Relief's - an overview
2. What is SEO and how does it differ to web design?
3. Consents required for signage and advertising
Once we have received your views, we will work with specialists in the relevant industry to produce informative articles so that you can provide general information to your clients and your own businesses too.
Please feel free to post your ideas on the forum directly or alternatively email us at info@bookcert.co.uk if you would prefer to give them anonymously.
Sorry for the delayed reply, been in the office all day and I've made a decision never to go on the site from there or I'll never get any work done.
I think that we should steer clear of SEO as most of the spam that gets deleted off here is from people, normally from China or India, trying to offer SEO services.
Rather than going off topic maybe better to do articles that fill in the accounting gaps of what people don't get taught when doing bookkeeping qualifications.
I think that in depth area's that would be good to cover for bookkeepers would be (just a few ideas for starters, also thrown an advanced Excel one in there) :
Ethics (compared to the accountancy bodies bookkeepers seem to only get the very, very basics). Maybe two articles, one covering the first five IFAC ethical guides (which everyone in this business should have tattood under their eyelids) then another for the rest.
Some basic (but important) calculations that go beyond the norm such as Elasticity of demand, calculation of Margins and markups, How to calculate NPV without the tables, etc.
An Excel how to which covers more advanced subjects like Pivot Tables and Lookups
A what to file when guide for newbies (such as how and when to file limited company accounts, who signs what, etc.). Maybe with an accompanying in depth review of IXBL.
An article about the fragility of the veil of incorporation as some bookkeepers are advising people incorrectly that being a limited company offers more protection than it perhaps does in many instances. That's not the bookkeepers fault as some of the books aimed at bookkeepers are pretty much the equivalent of ladybird Peter and Jane books when it comes to more advanced topics! However, the books that they have read are no protection for advice that they give so an article in this area could be useful.
I appreciate that except for the Excel one those are not the sort of subjects that you were thinking of but whether from this thread or elsewhere they are area's that (amongst many others) could do with being covered if there is to be some technical articles published.
kind regards,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I would also say, maybe more in depth exploration of VAT, exams for book-keepers really don't go into VAT beyond standard accounting and std, zero, exempt and lower rate.
Good idea - one that's got me baffled involves the Cash Accounting Scheme (and VT Transaction). How do you treat a payment in advance of the invoice when the VAT isn't known or even the proportion of VAT. It's when water charges are being paid by direct debit. The invoice has a variable amount which is standard rated and a variable amount which is zero rated. The invoice is sent 4 times a year. The payments are 12 times a year. I just can't get my head around it.
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Never buy black socks from a normal shop. They shaft you every time.
Because it is based on the measurement from the water meter. It changed from being based on the rateable value of the property to being a measurement. In the first year I think it was 67% rateable value 33% measurement, the next year it was 33% rateable value 67% measurement, third year 100% measurement. The bill is then split into how much is for water used and a % of that is then used for waste water. It is a ridiculously complicated bill. Doesn't really matter how it is calculated though as I'm only interested in the final figures. But it does mean that you can't say if the direct debit is for £60 then £10 of that is VAT because a variable amount will be at standard rate and a variable amount at zero rate.
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Never buy black socks from a normal shop. They shaft you every time.
Good question. I would suggest you put the direct debit through as zero then when you get the bill which shows the actual VAT put it through as an adjustment. Don't know whether you can do this in VT but you should be able to.
I haven't had to do this directly myself but I think you go to the appropriate supplier account, make a payment on account (bottom of screen inblack writing), fill in the details, and select "Not Applicable" in the VAT section.
When you get the invoice, enter the details as normal. Go to the supplier account select the invoice, and the payment on account, then select the contra button on the top of the screen. What hapeens then is a VAT "voucher" DVT transaction is produced to create the VAT record. This then appears in the VAT report.
I like your ideas Shaun. Though I chuckle at pivot tables and look-ups being advanced - I considered myself a novice user until I read that, I use them a lot!
I think some of the regular questions you get asked, for example, what books to read, which qualifications to take. Your post 'convince me I don't need Sage' would make a great article.
This forum and the website have been a great help to me getting qualified and now setting up my business. Once I get my first client I am sure of a helping hand, I can't express how helpful and reassuring that is. A big thank you to everyone how contributes.
I'll try that idea Bill - although I'm switching to Sage soon so it probably won't matter. Tim - the change might only have applied when the bill was from Scottish Water. The water charge used to be part of the rates. Then it was separated. Then they started installing meters into properties. They phased it in over a period.
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Never buy black socks from a normal shop. They shaft you every time.
The problem with that is that one acronym can mean two things.
AIA could mean Annual Investment Allowance or Association of International Accountants FUD could mean "Fear, Uncertainty and Doubt" or in Scotland, something completely different.
EDIT : The Scottish thing isn't actually an acronym.
-- Edited by Peasie on Monday 7th of November 2011 10:30:33 AM
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Never buy black socks from a normal shop. They shaft you every time.
