I have a new client who wants me to do his books on a regular basis and I am swimming in the deep end with no support, and no previous experience of how to go about things.
I meet him yesterday to go over what he wants, but today I meet his accountant and the accountant will reconcile his accounts and then pass it onto me. This is new to me, owing to the fact I have only done Tax Returns for clients in the previous years. After the client and I meet his accountant, the client wants me to do a Trial Balance.
Can I get a copy of a Trial Balance from somewhere to start off with, or is it a case of drawing one up one myself?
I dont want to be made to look a fool, owing to the fact this client could be the start where my Bookkeeping Practice takes off.
I just need some guidance of advice into the unknown.
Presumably, the accountant will do the previous years accounts and give you opening balances to post into your software package(?), then you will post all transactions in the current year, reconciling banks etc - that will give you an up to date trial balance for the client.
Thats what it sounds like, based on what you have said?
My client has given the accountant I am working with (who I meet yesterday) spreadsheets and figures of debtors from last year's transactions to reconcile, and to which my client wants me to produce a trial balance.
Again, you have understood me well. Brilliant! And you have helped me step in the right direction of what I need to do.
