MY client asked me to do his book keeping but I have been waiting for his previous bookkeeper transfer the accounts to me so that I can continue for there. But till now the accounts still havent been transferred as the old bookkeeper is still tidying the accounts up. But the VAT return time is closer. Im wondering what I can do now. if I cant wait for the accounts being transferred to me, can I start my clients accounts on my system as new and just put the balance of last year as opening balance? Or do I have to wait for the transfer, so that the accounts will be consistency from the very beginning of the business?
Problem if you do this is that you dont actually know for sure what is already on the other system and what is not on there. Have you been in contact with the previous bookkeeper with the usual professional courtesy letter and have they responded? Might well be that they are stalling due to the client not having paid their bill. You need to do this and see what response you get first I would suggest. But also then talk to your client to chivvy things along.
You could enter all the data from the start of the VAT quarter to get a bit of a heads start. But if you then complete the VAT return based on this you might be missing off any previously unreconciled items from the last quarter.
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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
As Joanne suggests, start preparing for the VAT quarter, if push comes to shove you may have to submit to avoid any late penalties but do so with the written permission of your client.
If you prepare a draft VAT return and it is perhaps higher than normal, this may give your client a push to resolve the issue with previous bookkeeper !
Failing this, you will have to process any receipts etc on the next return which hopefully you will be in receipt of ALL paperwork.
