I would be really grateful for any on the following topic: I am going to do the book keeping for a friend of mine, they have just opened a coffee shop.
I use Sage but have not done book keeping for a business which does not have sales invoices before. What is the best way to input the sales etc? also is there anything that I should be aware of when dealing with a business like this? VAT, analysis etc etc.
This may be a cash-based trade and you right that Takings, the biggest number, will determine the accuracy of the final accounts.
Simple tip : make sure the till roll is working and the operator is conversant with correcting inevitable errors etc.
What is the turnover to date and how long have they been open? This will give you an idea of whether they should register for VAT and when. I would also introduce yourself to the accountant and he may have an alternate system or guidance in mind.
Hope that is of some help but let us know the turnover and anything else that may be of concern.
