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The Book-keepers Forum (UK) -> Professional Book-keepers in Practice -> What to expect when doing accounts for a convenience store/corner shop?
Post Info TOPIC: What to expect when doing accounts for a convenience store/corner shop?
springinrose


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What to expect when doing accounts for a convenience store/corner shop?
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Hi everyone,

I would like to know from anyone who has handled accounts of a convenience store, what are the things to expect and look out for?  Which VAT retail schemes would be best applicable for such stores?

Thanks very much in advance for your comments.

 

 



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kjmcculloch83


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As with any retailer, try to get thm into the habit of reconciling the till daily, includingexpense and drawings taken from thr till.  Make sure they keep z readings too.

Also watch for goods taken for the owners own use.

As far as VAT goes, there's really not enough information to advise.

Kris



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Director and Co-Founder of The Bookkeepers Alliance

 
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