just had to have a quick glance back to your earlier posts to see qualified with who.
You say that you are doing a bookkeeping qualification so I would imagine that you are looking at bookkeeping for limited companies with no filing or accounts work, plus bookkeeping and self assessments for the self employed.
Most important document that you will give a client is your engagement letter which establishes the obligations of both parties.
Besides that here will be VAT returns, aged debtor reports, perhaps a monthly P&L with all figures on the face of the P&L rather than in notes.
You could provide the client with some basic ratio's but I would be adverse to offering advice on what the figures mean until you have more experience as you are likely to find that such advice would go beyond the remit of your PII.
Some of your clients will be accountants and they will expect things like a trial balance, VAT reports, Nominal Reports, etc. All of which your software should be able to produce without any issue.
I think that peoples confusion in answering this thread may be that we do not know what services you are offering so we don't know what reports you would need to produce for your clients.
kind regards,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I am not far off completing my level 3 ICB, my main focus will be self employed people. I think that a focus on them and may be partnerships and clubs will be a good starting point, I plan to attack the 150 local driving instructors for starters.
So ultimately I guess they would want a breakdown of expenses by area like phone, fuel, adverts etc.... P&L
Forgive me if I have missed the point in training but other than to tell a bookkepper or accountant which nominal accounts have what charges or credits there is no point to a trail balance? I cannot see any business looking at it.
my comment was that if you are subcontracting for an accountant or supplying information to an accountant they will (amongst other things) want to see the trial balance.
You are correct, the TB means absolutely nothing to many business owners.
What you get back from the accountant will be an extended trial balance showing any journal adjustments to be made to the books following preparation of the accounts.
kind regards,
Shaun.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I am not far off completing my level 3 ICB, my main focus will be self employed people. I think that a focus on them and may be partnerships and clubs will be a good starting point, I plan to attack the 150 local driving instructors for starters.
So ultimately I guess they would want a breakdown of expenses by area like phone, fuel, adverts etc.... P&L
Forgive me if I have missed the point in training but other than to tell a bookkepper or accountant which nominal accounts have what charges or credits there is no point to a trail balance? I cannot see any business looking at it.
Hi Eilef
I am just trying to finish my ICB Level 3 (old syllabus) before the deadline - studying with Training Link - Its hard trying to convert training into the realities of day to day work for customers.
