I have come across a problem and i would appreciate some advice as to what would be the best way to go.
I have a client who has dropped off the customary carrier bag full of receipts and invoices etc for last year. A s i have been working through them there have been no problems until i have reached the last month and there is no bank statement for this month just the receipts and invoices.The client says that she can't find the missing statement
Would it be acceptable to use an earlier bank statement for the details of direct debits etc and just use the invoices that i have for the sales amounts and the receipts for the purchases .
Ask her to go to her bank for a copy statement. When she has to pay the £10 or £15 for a copy statement the missing statement might miraculously be found. Or she could get the details if she uses online banking.
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Never buy black socks from a normal shop. They shaft you every time.
I was just reading about acceptable evidence (sad life I lead init!) and bank statements have to be originals to be acceptable evidence so even if in this instance evidence is printed off the accountant may still ask for the originals or bank produced copies of the originals at the year end.
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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 find this odd as banks seem to be trying to get people away from paper statements and onto online banking and switching off the paper option.
I know myself I'll only do that when the bank statement or credit card statement is the same as what I would have got through the post (a pdf of the same thing).
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Never buy black socks from a normal shop. They shaft you every time.
How sad is this - I'm trying to study and find it hard to do when the TV is on. So here I am on a Sunday night and I've just switched off "American Dad" so I can study Sage 50 Payroll Stage 2 Workbook 3.
I know it's a bit obvious you can't study when the tv is on - but I can if it's just providing background noise. As it was American Dad that was on it was taking my concentration away.
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Never buy black socks from a normal shop. They shaft you every time.
Second episode was good tonight Peasie (Stan giving up on Haley so takes a stripper under his wing instead... Sad as it might sound when the CIA were trying to get through $50k by midnight I completely understood it from a budgetary/public service reward for failure point of view).
I know what you mean about banks wanting us to be paper free but that's really out of touch with the expectations of everyone else. (They also want us to be cheque book free but I really think that hell will freeze over first!).
For bank statements it's one of those things where it's really easy to mock up a bank report so accountants need to do as skeptical of printouts as HMRC are.
I think it's one of those area's where when faced with it you just imagine yourself sitting accross from an HMRC inspector trying to justify why a bank statement is printed on A4.
I think for the most part accountants would probably let it past as they have no responsibility for the financial statements beyond compiling them with competence and due care. The contents are very much the responsibility of the client management.
On the other hand an auditor faced with passing an opinion as to whether the the financial statements present fairly the financial position of the entity would be much more pinickity about that. (see practice note 16).
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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 should just have watched it. I've been distracted by other things so I'm not going to get it (Sage study) finished....especially as I'm not missing Father Ted, The IT Crowd and Black Books. I'm actually liking American Dad better than Family Guy now. And I don't even watch the Simpsons any more. It went way downhill.
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Never buy black socks from a normal shop. They shaft you every time.
I know what you mean about banks wanting us to be paper free but that's really out of touch with the expectations of everyone else. (They also want us to be cheque book free but I really think that hell will freeze over first!).
I wouldn't mind going even further and doing away with cash. I was watching "Click" on BBC News this morning and they had these shops where you just hover your phone over a terminal to pay for small items. Takes seconds. You get a receipt on your phone.
In the last two years I've wrote two cheques - both to the same satellite repair company. I asked them if they'd have accepted payment by debit card or credit card and they said that would have been ok.
I think the idea to end cheques in 8 (?) years time has been ditched now.
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Never buy black socks from a normal shop. They shaft you every time.
don't forget that tonights two new episodes will be repeated next Saturday night. The second one really is laugh out loud funny.... Steve goes to space camp for a week and five strippers move into his room!
I changed your post in the other thread to change my name back to just the first name. I know that being limited it's pretty easy to find anyway but still a bit paranoid about it being published on the site. No worries about it but just wanted to tell you that I've changed it.
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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.
Sorry about that Shaun. I hope you put your link back as I hate being responsible for you taking it down. Actually the only reason I was using your "Sunday name" was all the info was already there in the signature.
Some people don't realise just how much info is available on the internet when they go down the limited route (that isn't referring to you though). I mentioned a while back about Duedil.com. Well, there's another one that does a similar thing and I was reading their twitter feed. One person was getting really annoyed at the fact they had published on the website their "Cash at bank" details. It took some explaining that the info was freely available. They'd completely freak out now as this new site "companycheck.co.uk" now have copies of the actual accounts for about 15 years - well, that's the intention for the future, it's a bit flaky just now. Been a bit nosey and was looking at the ICB accounts over the years.
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Never buy black socks from a normal shop. They shaft you every time.
I was just reading about acceptable evidence (sad life I lead init!) and bank statements have to be originals to be acceptable evidence so even if in this instance evidence is printed off the accountant may still ask for the originals or bank produced copies of the originals at the year end.
I find this quite interesting as well, I don't actually get any statements for any of my bank accounts.
Does it balance with the opening month of the following statement and have any of the DD and SO's changed? It largely depends on the reliability of the client chq stubs and other records.
I can forgive the odd bank statement but '2 strikes and you're out' is a fair policy if you can't reconcile it exactly.
Didn't know that about online statement printout's. I'd hope I'd spot a forgery but will bear that in mind.
One of my clients banks with the dreaded Santander and has only an internet account, Santander won't even send paper statements. It's a limited company too.
Barclays Lloyds (LloydsTSB yer right!. We all know who owned who in that one!) NatWest RBS, (Same bank as NatWest, different sides of a border. Biggest shock ever in banking history where a tadpole swallowed a blue whale) HSBC (Lift the hood and it's still the Midland bank) Coutts (Also owned by RBS) Bank of Scotland (One of Lloyds babies but very good in it's own right espechially on the corporate side)
My personal view is that building societies that become banks need to last at least a hundred years as a bank before they can justifiably call themselves one of the club.
Anyway, of those seven I've designed, developed and implemented major systems enhancements for four of them. Not saying which but when you get your statement, transfer money around or buy your travel money over the counter then there's a good chance that I was behind it.... Any mistakes that you find were of course developed at another time by another department (lol).
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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.
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.
