Hi all,
bit of advice please.
Got a client who needs all transaction for 2013/2014 entered on sage, bank rec and then passed to accountant. 99% of what has gone through the bank,I have all statements, are either train travel, small costs such as refreshments, rental of an office based in London and maybe a few mobile costs. All his receipts are on line. Would you think I need to get to get all receipts printed off and then enter, or just enter from bank statement. If he had to produce them he could, he isn't vat registered and I have had him sign a letter of engagement to say that all explanations are true to me. All the transactions are mostly the same month on month.
Help and advice greatly appreciated.
Jay
Cant you just get them him to download to dropbox or google doc or something similar so you can view them if necessary.
Personally I would want to have access to see them incase I wanted to look at any for any reason. Though after a while you are going to know the nature of the expenses based on where they were incurred from the bank statement description.
Thanks for the reply.
I go to his office and everything is on his email or on line accounts and can access if need be, but wasn't sure if I needed to print them as I know they are all there. Does that make sense?
Usually you can tell from the bank statement, where a payment has gone (most is DD/Debit card these days). The payment, for a non VAT registered business, is actually a mild form of proof. Its not ideal, and like Mark, I would rather see things, BUT if the client is telling you that all bank payments are business, then accept that. He signs the accounts, he is liable for making sure they are right, he will have to provide the paperwork if he gets investigated. Get posting, ask your queries, accept his answers. Get it all in writing. Its not an audit and its not your job to prove he is telling the truth.
:)
-- Edited by FoxAccountancyServices on Thursday 19th of June 2014 12:48:25 AM
