If a client came to you now and wanted you to do their book-keeping starting last April would you enter all the accounts in full (i.e by keying every receipt / invoice into quickbooks or sage) or would you total the accounts and enter a journal entry for each one?
The client has shown me their record keeping, which to be honest looks pretty well organised, all expenses listed in a book and all receipts sorted by date and filed neatly (talk about dream client!) but I suppose you can never assume can you!
In addition to paperwork being missing what about misunderstanding of expenses which I find very common even amongst the best organised clients.
__________________
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 agree with Tony and Shaun, I have a less organised client/friend, with a bag full of paperwork (to say receipts just wouldn't do it justice), and I have analysed and entered every scrap of information, in its own little spot on my ever evolving fantabulous spreadsheet, screw accounting packages, make one up of your own it's much more fun.
