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• # 84049
• Tue 17 Jul 2012 06:34 PM

Hi


I have just received my PC and have a new client as well.
The client has given me their sales and purchases, bank statements and nominal expenses for April and May on spreadsheets. They want me to do their accounts on sage from now on and they have also registered for VAT at the beginning of April.


At the moment i am going through all their papers to put into some order but perhaps someone could tell me what is the best way to transfer the previous years accounts on to sage or can i just start with April figures as my starting point since they have only just registered for VAT. I dont want to find out that i am working with the wrong figures. I have been told that their previous accountant will complete last years books but not sure when those figures will be sent to the client. 

all advice greatfully received.


thank you    


         

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• # 84052
• Tue 17 Jul 2012 08:51 PM

Hi,

Congratulations on your first client but always a bit daunting!
Firstly, is the client supplying the sage program unless you have a multi-company program?
Secondly what is the client's company year? If it is 1st April to 31st March then I would just start as if a new company.
However, does he still have outstanding supplier & customer invoices waiting to be paid? If yes then the outstanding figures would have to be setup in Opening balances in each supplier/customer account. When his accountant has completed the previous year he should be able to give you a journal showing the balances on each nominal account which you can process later using the 1st April as the date if that is start of company year. Is client a sole trader or Limited Company? If you want to email me go to www.mmbookkeeping.co.uk as there is quite a lot to sort out in the beginning.

Regards,
Marilyn
 

• A clever person solves a problem.

  A wise person avoids it.

  Albert Enstein

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• # 84068
• Wed 18 Jul 2012 12:11 PM

Hi Marilyn


Thank you for replying. At the moment i am looking at their sales and purchases which i am putting on a spreadsheet and their nominal accounts. They have a vat return to do as they registered on 1st April 2012 and they haven't received a return yet. I have asked them to find out if they elected to transmit on line. They also have their old accountant finalising last year but i dont think it will be done in time for the vat return deadline. I have just received my practicing certificate so i am now just starting to look at the books properly. I am using my own version of sage as i have been using it for sometime. The are a partnership.


if i collate all the sales invoices and purchases onto the spreadsheet can i use these figures to submit to HMRC.


Domino        

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• # 84071
• Wed 18 Jul 2012 02:27 PM

Hi Domino,
The sage program you will use will not be acceptable as the licence will be in your name not the clients and this is not permitted by Sage and that is the reason I asked.
All Vat Returns have to be done online now. They will receive a notification saying when their first Vat Return is to be filed and the period it will be for.
You can apply to do their Vat Return as an agent but you will have to register with HMRC Online Services to do that. Are you already registered  for anything else e.g. SA Tax Returns?
Are you going to be doing the Partnership Tax Returns? You will have to complete a 64-8 Form for the Partnership and each individual partner if you are.
Re your spreadsheets - these should be ok but it will depend if they have registered for Vat Cash Accounting or Standard Vat Accounting or Flat Rate Scheme how you process the Vat.
regards,
Marilyn  

• A clever person solves a problem.

  A wise person avoids it.

  Albert Enstein

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  Quote