Hi. Could I have your thoughts and opinions please?
I'm in a new job, working for an accountant. We do VAT returns for a few clients, and the person I've replaced has put ALL transactions through Sage as either bank payments or bank receipts. It's my first experience of working for an accountant and it appears all the clients have been processed in this way. I don't think any bank recs have been done for a long time either. Is this standard procedure for accountants? The client I'm working on at the moment is a shop and they are using a VAT retail scheme, which the accountant calculates himself.
I'm wondering if I should I look to change the system to using suppliers/customers, etc for their new financial year? The accountant doesn't use the computer at all and relies on printouts from the software to compile the accounts.
To me it seems such a waste of the software (and money) to use it in this way. But I suppose it's quicker?
Never seen it done that way before in sage, sounds like a means to an end or even a lazy way of doing things. Perhaps ok if the clients just want the VAT doing or if your client doesn't need any kind of reports, but here's hoping they never change their mind.
__________________
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
I had the equivalent when I started my job here. Effectively everything was Misc income or Misc Expense, even though (some of) the supplier/customer accounts were set up! 6 months of redoing 4 years "work" later ......
Personally, I would go and sort it out correctly for the new year, if nothing else, it's good practice.
I had the equivalent when I started my job here. Effectively everything was Misc income or Misc Expense, even though (some of) the supplier/customer accounts were set up! 6 months of redoing 4 years "work" later ......
Personally, I would go and sort it out correctly for the new year, if nothing else, it's good practice.
Parmi
Hi Parmi
I think that's worse, at least with mine the items are coded. I don't think a year end (or even month end) has been done since August 2014 though, and the accountant is asking me to close the year at March 2016. More fun to come looking that one up
Never seen it done that way before in sage, sounds like a means to an end or even a lazy way of doing things. Perhaps ok if the clients just want the VAT doing or if your client doesn't need any kind of reports, but here's hoping they never change their mind.
Thanks Joanne, it is a bit of a problem when I try to see what has been done before and Sage says I can't drill down that far. But if they want to carry on doing it this way I'm sure I can find a much cheaper solution!
