I need some help. I work part time at a company where I myself work as a book-keeper but also used to work along side another book-keeper and we shared the workload. She left without notice two years ago and the boss didn't get anyone else to cover her so I ended up trying to do a full time job in part time hours for a year. The boss opened two new bank accounts which had no paying in books so they only records we had were photo copies of the cheques and a written record. The problem is, on the days I was not in photocopies did not get taken and chqs were just banked with no record of what the amounts were made up of. These bank accounts were opened in June 2013 and the year end is March 2014. I have not been able to process the year end and tie this all up. I am going to mail shot the debtors along with statements to see what information they can give me. The problem I have is I have reconciled the bank accounts for 30th March 2014 and for the quarter ending 31st August 2014 to get the VAT returns in. I am not sure how I tie up and process the year end once I get all of the paying in details. I am really up against it as the accountants need last years data by the end of next week.
Hi Im a bit confused as to when the period of this problem relates to as you say you have reconciled the Bank at year end and in August, so Im wondering where the payins you are unsure about have been keyed to?
Regardless of that - first thing is - how big is the issue ie how many times were amounts paid in when you were not in the office? Im guessing none of the debtors issued remittance advices?
I would suggest your first call is to the Bank - they are able to issue copies of cheques paid in with each individual credit. They are likely to charge you for the pleasure but it is easy to access this information these days.....thats the price the business has to pay for not organising themselves when you arent around Im afraid.
I cant advise how to tie up the process until the first question is answered, but I would suggest you speak to the Accountant and explain what has happened and your boss to say you need some assistance. Once you have the information from the Bank (and any complaints from debtors!!!) it could be fairly simple.
Please do get a paying in book - demand one from the Bank! They are free.
__________________
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
Thank you for answering me. Apologies, I didn't explain the dates properly. The year end is 31/03/2014, the new bank accounts were opened in 06/2013. I have to sort collate the paying information from this period to the year end. The same thing has happened from the end of March this year until August this year when we took on another person on, unfortunately not a book-keeper though so she has limited experience. We did have someone before that for 6 months who did understand how important it was to get as much information together before cheques were paid in. I am still correcting her mistakes too, so it has made life a little difficult. I invoice our account customers but we also have people writing cheques for shop sales so I have no hope of finding them if a ticket wasn't written out.
We're talking ten of thousands of pounds worth of paying in. Hardly any debtors send a remittance unfortunately.
We do have some copies of the cheques paid in that the bank provides but you cannot see any information on them, they are too blurred.
According to the bank they don't have paying in books. This does make the whole process difficult.
Ok - Im trying not to hold my head in my hands about the Halifax. I thought they were no longer offering business accounts which might explain why they dont offer paying in books. Unless its actually Bank of Scotland (HBOS) then they absolutely DO issue cheque books! Suggestion to your boss - move Banks! Serious suggestion!! Or failing that he needs to implement a policy for taking cheques - even if its just on an A4 piece of paper it HAS to be better than the lack of system you have now!
That aside - you do need to ask the Bank for help on this one although that lot could take a while. They can provide bigger copies, rather than the miniscule ones you get when you pay them in. You mention a shop so people might pay by cheque - on the basis cheques havent been supported by cheque cards for some time now is the likelihood of this quite low or could they be taken from the same person (ie someone who has been a customer for years so you just do it - worth a chat with the shop staff)?
What exactly have you been doing with the payins when you see them on the Bank statement - ie where and how are these being processed?
(Im going out now so it could be a while before I post again)
I suggest a drink for you Kellie-Jayne!
__________________
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
Well I spoke to the accountants this morning and all is not lost, at least it seems achievable anyway! Finger crossed I can meet the deadline. Wish me luck and thank you for your help. I shall indeed be enjoying a large drink when it is all finished!
