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Post Info TOPIC: step by step guide to producing a set of final accounts
StuartAnder


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step by step guide to producing a set of final accounts
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Hi,

Would anybody be interested in sharing their step by step process of producing a set of final accounts for a small company?

Thanks

Stuart



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StuartAnder


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No one :(

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Sharon Eyre


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I dont actually have a step by step process in place- the accounts are processed in Sage then the necessary reports are run and the final accounts raised and submitted !!

sorry not much help

Sharon

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Regards

Sharon
Cheshire


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I dont do them (just a bookkeeper!) - sorry I cant help.



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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
StuartAnder


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Thanks :)

Sharon, do you deal much with deferred tax, as that's the one thing the throws me, even though I have studied and passed the damn subject.. I just worry that it might come up, when im going someone's final accounts and I don't know what to do with it :(

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MarkS


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There is that many variables there isnt a template.  But in summary

1. Prepare trial balance or list of journals from source documents.

2. Do the accounting adjustments eg depn, accruals, prepayments, stock etc.

3. Post the trial balance and/or journals into suitable accounts package eg VT accounts, taxcalc, digita, IRIS etc

4. Do the corp tax comp and bring in provision for CT into accounts.

5. Review the disclosure notes.

6. Review the accounts.

7. Sent to client for review with any additional queries.



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Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
Sharon Eyre


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Stuart , I don't really have any with deferred tax-most of my Ltd clients are very straight forward

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Regards

Sharon
StuartAnder


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That's mark tats perfect. I understand there probably a load of different ways. Thanks Sharon :)

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