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• # 114425
• Tue 10 Jan 2017 08:22 PM

Hi, 

I've just sent off for my Practice Licence, but have already had an enquiry from someone with regard to helping her with her bookkeeping. I've told her that I won't be able to do anything until I get the paperwork through and she's happy to wait. So, I thought I'd use the time to work out what I'm actually doing so I sound like I know what I'm talking about.....

She's been a self-employed property developer for about a year and just has a big bag of receipts that need sorting. She employs an accountant, so presumably, she just wants me to get her paperwork in a fit state to give to the accountant so that he/she can do her tax return.

Should I just be inputting the receipt information into an excel spreadsheet, detailing the date, amount and type of expense? 

Seems easy enough, but doesn't really seem like 'bookkeeping'!

Apologies if I sound like I don't know what I'm talking about, but this would be my first client, so I'm a little unsure how to proceed.

Thanks!

V x

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• # 114428
• Wed 11 Jan 2017 09:13 AM

Hi V

I would talk to the accountant as a first move and ask them if they have a default chart of accounts for Property Developers - they may even have a spreadsheet template.

If it's a case of catching up on a year's bookkeeping, then a spreadsheet will probably prove the quickest way of doing this, but I would not recommend using one going forward. Instead, I would strongly advise using a some cloud based software (and the cost of this should be borne by your client) such as:

ClearBooks

Xero

FreeAgent

KashFlow

QuickBooks

QuickFile

Once you spoken to the accountant then you should, one way or another, have a list of categories with which to itemise the expense receipts as well as a better ideally generally, of what the accountant wants.

Taking the initiative to approach the accountant shows you are being pro-active as well :)

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