This is my first post, I had a poke around here and also on the HMRC website. I am going to ask a stupid question and prepare for the inevitable wrath that will ensue...
Is there a list that you code point me to of all tax codes and the groups that relate to them?
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.
Hi Shamus, thank you for your quick reply, I've seen that you are very active on here, I think you are in every forum! I'm surprised you're getting any work done!
Thank you so much for the link!
I am currently doing training as a bookkeeper but a little confused about the codes from T0 to T9. I have asked my tutor who is .. not so enthusiastic about his job.
I know the general explanations but was wondering if there is some kind of exhaustive list somewhere?
I'm guessing many students have tread this path, so my apologies in advance for such a basic question!
Hi Only certain sage software use such codes. I assume you are using some version of sage 50 or the (old) sage instant for your course?
You can also get the list relating to the sage you are using, and indeed can customise some of your own via the software. Go to the company settings, configuration and click on tax codes and it will give you a list.
Are you studying AAT?
T9 is not used very often, but keeps things off the VAT return, the rest ensure the correct VAt return boxes are populated properly so careful with their use.
edited to read VAt return, rather than tax (as that might've been misleading for students)
-- Edited by Cheshire on Sunday 11th of December 2016 09:26:23 PM
__________________
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
Hi Cheshire, yes we are using Sage 50 2013 edition, but I just got a little confused about which tax code to apply to certain invoices.
I just thought "Wouldn't it be much simpler if there was a list of which tax code to use for all the different types of purchase/invoice." I could then print this out and stick it on the wall and everytime I was unsure of what code to apply I could refer to the list.
Thank you for the advice and explanation Cheshire, I really appreciate it.
Regarding your question, the course will just help us practice 4 different industries with real world invoices, there are no qualifications involved. Just an in-house certificate. They do however also provide us with work experience, a work placement and CV creation.
They do do a separate AAT course which I have paid for and will start this week though!
Hi Kashif, this may be after the horse has bolted so to speak, but I'm hoping you are not paying for work experience.
Can I ask who this is provided by?
It's just that I'm on another forum and been hearing some odd stuff, which makes me think I should put a warning on here when I have a mo.
By the way, Shamus is Shaun, Leger is John and I'm Joanne. If you are using a smart phone you may not be able to see, but our names are at the bottom of our posts, under the line (which you may only see once you are back on a PC.
-- Edited by Cheshire on Sunday 11th of December 2016 10:11:21 PM
__________________
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
Hi Shamus, thank you for your quick reply, I've seen that you are very active on here, I think you are in every forum! I'm surprised you're getting any work done!
Hi Kashif,
not so active at the moment as I'm inundated and have been for about five weeks now, but I keep a weather eye on the site to ensure that we dont get any miscreants or spammers. I just saw your post whilst checking the site and thought it was a quickie so why not.
the issue with this thread was that you asked the wrong question but i understand your confusion. As indicated by Joanne and John the codes are just something peculiar to a bit of software rather than tax codes which is the question that I answered.
Look on the bright side, you just got two answers for the price of one... One of the answers to a question you hadn't even thought of yet
__________________
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.
Well work experience is part of the package and yes I already paid, The work experience is teaching the other students what we just learnt!
I would tell you the name of the provider, but since I have revealed my name I'm afraid of blowback from them :S but I can PM you the name if you desire?
They are based in London. What I can say is that it is also an accounting firm and half of the PC's don't work!
I must admit I do regret taking the course... anyway like you said the horse has already bolted.
Do you have any advice about where to go for work experience? I have a full time job so it will be tough.
Thank you for explaining how to see your names. Everyone here is very kind! I'm used to having my head bitten off for asking Newbie questions which have been answered a thousand times before so it's refreshing!
there are two training companies that I've seen advertising that provide experience (at a cost). I've seen both of them advertise on Reed. Crown Accountants (who now seem to have disappeared from Reed) and Janet & Richard who charge £90. As usual both of them are advertising the prices as bargain short time offers where the real price should be something between £380 and £700 but really nobody ever pays more than the lower price.
I've seen various debates about the legitimacy of the work that these sort of companies outsource with suggestion that one is not really working on live files but rather generated files and experience provision rather than accounting is the business.
At £90 for up to a year of experience I'm not seeing that can be a very lucrative business although if the process is pretty much automated just sending out the same files to numerous candidates and getting other candidates to cross check work then it may just be a bit of a low yield cash cow.
Both of the above providers stated that the signoffs can count towards up to a year of ACCA experience (that would be the experience towards membership, not experience towards a practice certificate) but that one's not a biggy and a firm does not need to be a chartered / chartered certified accountancy practice in order for a small amount of the three years experience requirement to be counted towards membership (pre membership experience is a little more flexible than the post membership requirements).
Following that through though I do worry that some people who sign up for these courses may believe that the experience is counting towards being able to practice on their own. The reality is that at best it may help find an entry level position giving advantage over those with no experience. And from there provided that it is in the right sort of practice one is perhaps able to gather the right sort of experience.
I dont want to sound too negative here as the experience that Kashif is gaining will help him and assuming that it's just £90 it puts him ahead of those without any experience at all in the job market.
__________________
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.
if half of the PCs don't work then they are definitely a legitimate accountancy firm!
__________________
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.
Well I paid £1000 and then a further £300 for the AAT course.
The way it works is there are around 4-40 students and it's on a first come first served basis. Sessions are booked in 4 hour slots.
Everyone watches the same videos, I would say there are around 100 in total from 3 to 20 mins in duration. Also everyone has the same files.
For the £1000 we get around 120 hours to book, There are 2 set classes where a teacher teaches us payroll and tax, 4 hours each.
Other than that we are self studying, If we get stuck a tutor or previous student helps us.
I must say on a positive note that the videos and documents are very useful. They seem like real world expenses and invoices and each has some kind of tax or other tricky point to learn which the videos teach.
They teach Sage 50 2013 and Quickbooks desktop and Payroll.
By they way this is all for the Fundamental course. They have other courses available all the way up to accountant.
The name of the company is.. drumroll k b m I thought if I seperate the words they wont find me here :P
It's a strange environment as we are working inside their large office space which also includes their accounting practice, so we often see clients visiting, I think they are chartered.
When it comes to recommending them, I'm not sure, the only thing that makes them worthwhile are the videos and documents, but not worth £1000!
I suppose, though, as Shaun says: The silver lining is if it is just £90 and Kashif does get some valid experience from it - but still it sounds very exploitative.
Unfortunately is was more than 10 times that. My Oyster card cost to just get to the centre is even more than that :S
there are two training companies that I've seen advertising that provide experience (at a cost). I've seen both of them advertise on Reed. Crown Accountants (who now seem to have disappeared from Reed) and Janet & Richard who charge £90. As usual both of them are advertising the prices as bargain short time offers where the real price should be something between £380 and £700 but really nobody ever pays more than the lower price.
I've seen various debates about the legitimacy of the work that these sort of companies outsource with suggestion that one is not really working on live files but rather generated files and experience provision rather than accounting is the business.
At £90 for up to a year of experience I'm not seeing that can be a very lucrative business although if the process is pretty much automated just sending out the same files to numerous candidates and getting other candidates to cross check work then it may just be a bit of a low yield cash cow.
Both of the above providers stated that the signoffs can count towards up to a year of ACCA experience (that would be the experience towards membership, not experience towards a practice certificate) but that one's not a biggy and a firm does not need to be a chartered / chartered certified accountancy practice in order for a small amount of the three years experience requirement to be counted towards membership (pre membership experience is a little more flexible than the post membership requirements).
Following that through though I do worry that some people who sign up for these courses may believe that the experience is counting towards being able to practice on their own. The reality is that at best it may help find an entry level position giving advantage over those with no experience. And from there provided that it is in the right sort of practice one is perhaps able to gather the right sort of experience.
I dont want to sound too negative here as the experience that Kashif is gaining will help him and assuming that it's just £90 it puts him ahead of those without any experience at all in the job market.
Everrrrning Shaun
Ive heard talk of one or two with no names mentioned and another was Crown.
Ive not seen anything other than that, plus Ive not actually done any kind of research.
My initial reaction was - paying to get experience.....NO WAY.
But I guess in some ways we pay for experience, although usually giving up our time (and therefore earning capacity elsewhere) and doing freebies, but I would never ever pay someone to give me that experience.
What came out loud and clear from what Ive seen is that the cheaper deals are very much short time, available to only a handful cheaper deals - or miss it and they charge upwards of a grand.
The person who mentioned it actually dumped the whole blurb from their sales tactic email, which was I have to say in typical sales style was promising the earth. Reading it through, even between the lines I couldnt really see much that would actually help people in the long run. OK yes folk might get some experience but if quoted on a CV will that experience by viewed by potential employers as real life worthwhile experience. I cant answer that, but would be interested to know what firms or other Accountancy firms would think
The blurb states they would be trained towards qualifications such as ACCA, but the 'training materials' on offer would no way provide the requisite training and I got thee impression, but could be wrong, that the level would not even be the ACCA-X type of level. Nor cover a recognised qualification of any description, certainly from what i saw even the offer of a sage qual comes with a request for more cash!
It was clear from the blurb that the 'training' would be on live accounts (working from home!), although someone would be checking the work before files were handed back to clients. But the role would include:-
Sales and purchase ledgers Reconciliation Banking VAT and TAX returns Book keeping Trial balance Cashbooks And Auditing.
I think it was the 'Auditing' part of the list that got me doing my headless cynic screech round the room.
What also concerns me reading Kashif's earlier posts are twofold:-
1) The students teach other students.
2) The trainers (or former students) cannot answer a basic sage tax code question.
So what else does that say about such training.
Although Kashif has indicated this is a different bunch offering the course altogether so apart form (1) and (2) above he may have a better deal.
I just find the whole idea leaves a nasty taste as it seems to play on the difficulties of people getting into the industry through the whole chicken and egg - you need experience, but why wont someone give me the experience.
__________________
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 paid £1000 and then a further £300 for the AAT course. Can I ask - what part of the AAT course does this cover? Just level 2? Any exam fees in the mix? Also - what standard are you on - AQA2013 or the new AAT AQA2016 exams?
The way it works is there are around 4-40 students and it's on a first come first served basis. First served - for what, do you mean for getting a 'deal'? Sessions are booked in 4 hour slots.
Everyone watches the same videos, I would say there are around 100 in total from 3 to 20 mins in duration. Also everyone has the same files.
For the £1000 we get around 120 hours to book, There are 2 set classes where a teacher teaches us payroll and tax, 4 hours each.
Other than that we are self studying, If we get stuck a tutor or previous student helps us. Or not - from what you said about the sage issue. I do get very annoyed when you hear that a tutor has not helped in any way to answer a question, really gets my goat. BUT that said - I hear that a hell of a lot, from usual 6th form colleges teaching AAT or indeed some of the training bodies, so its not unique to this scenario.
I must say on a positive note that the videos and documents are very useful. They seem like real world expenses and invoices and each has some kind of tax or other tricky point to learn which the videos teach.
They teach Sage 50 2013 and Quickbooks desktop and Payroll. you could become the forum Quickbooks helper idc - we have a couple, but they arent always around.
By they way this is all for the Fundamental course. They have other courses available all the way up to accountant.
The name of the company is.. drumroll k b m I thought if I seperate the words they wont find me here :P
It's a strange environment as we are working inside their large office space which also includes their accounting practice, so we often see clients visiting, I think they are chartered.
When it comes to recommending them, I'm not sure, the only thing that makes them worthwhile are the videos and documents, but not worth £1000! Ok - so this lot might be better at this than others Ive heard of, but my question has to be - what kind of recongised qualification do you get from this at the end of it? Also - I would be interested to see what kind of reference they would produce and what you are allowed to put on your CV that can be checked by a prospective employer. Guess you arent quite at the latter stage yet - but I would be asking some questions along those lines so see if your £1000 is well spent. In terms of moving forward - I will post a couple of pointers on your other post.
Any experience is good experience if you learn lessons from it.
-- Edited by Cheshire on Sunday 11th of December 2016 11:52:59 PM
__________________
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
Unfortunately they don't give any recognised qualification unless you buy a seperate course in addition. So I bought their ATT level 2 course which will start on Wednesday.
I think we do some work at their accounting department so we can put that we have worked in an accounting firm but not 100% sure about that.
Thank you all for your support and help! I'm committed and determined to becoming a good bookkeeper as I enjoy it very much! Hopefully I can give back and teach others as you all are doing!
When you are ready to do your level 3, pop back on here and get some recommendations for course providers and such. Good luck with level 2. Ask away if you need any help, but be warned we do expect you to have a go at answering first - doesnt matter if you get it wrong, but at least you will have tried.
__________________
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
