I hope you will be able to help me. I am doing the AAT level 2 at the moment plus I've worked on SAGE50 in sales ledger department.
Now I have a question. A friend of mine has a small building company and it is a VAT registered business. Until now he has been doing all his accounts on excel. From April 2013 he would like to start using SAGE and asked me to help him.
Could anyone advice what has to be recorded at the beginning of Sage. There are no outstanding balances from any of his suppliers or customers. But there is VAT and Tax returns and a bank balance of course.
If is already trading then will be preparing accounts either as sole trader or ltd company. (not clear from your post what he is)
Therefore you should get the trial balance at the start Apr 2013 and post that on as the opening position.
If an accountant prepares his accounts then the accountant should be able to provide. If not then might be more difficult for your friend to provide themselves.
Thank you for your reply. He is a sole trader but he is VAT registered. Also he has no accountant as he claims the person who did his accounts couple of years ago was hugely expensive and difficult to cooperate.
However Ive been looking at his files and I can see he is very well organised. All his expenses are entered in Excell, all invoices are coded and listed with a full suppliers name, date and total. I would really like to help him but I dont want to put him a trouble. But to be honest I can see this as a chance to have a little bit of practice for myself as Ive been looking for a job in accounts just to have some experience. But it is so difficult to find any. The AAT course is great but doesnt give you enough life practises. Anyway I dont want to waste your time. I really appreciate your answer. Kind wishes Shelly
