Brief Programme Description

This bootcamp is a great opportunity to understand and learn the basic of Bookkeeping and taxation for your business. This 6 module programme is held over two days and outlines the importance of bookkeeping and practical bookkeeping skills.

Day 1(Tuesday 11th November) - Location: Local Enterprise Office - Dublin City, Dublin 8

Module 1

The Importance of Proper Accounting Books & Records to a Small Business

• Records which need to be kept / maintained. 
• Templates of books of first entry incl’ Purchase Day Book, Payments Day Book 
• Resourcing the bookkeeping function … ‘how’ and ‘who’ best to do it. 
• Advantages of good record keeping. 
• Self assessment and bookkeeping ... what it means for ‘you’. 
• Outlining some of the benefits of good bookkeeping systems in a small / medium sized business. 
• Double entry bookkeeping – what it means and how to do it!! 

Outcome

To boost the confidence of participants in ensuring proper books & records maintained by doing a Case Study.

Module 2

Tax Compliance ~ What it Means

• Tax Codes: An introduction to types of taxes that businesses / persons may be liable to. 
• Registration for tax (TR1, TR2) and ‘how’ to de-register: A walk-through forms TR1 and TR2, highlighting important aspects e.g. cash receipts basis for VAT.
• How & ‘when’ to register; and when a Business should de-register for taxes. 
• Key tax deadlines for small business, incl’ (Sole Trader & Companies, VAT, Income Tax). 
• Preliminary Tax … what it means, ‘how’ it is calculated and how to provide for this tax. 
• Tax returns and tax payments (obligations). 
• Being / staying aware of ‘own’ obligations. 
• ‘How’ the books of first entry provide for a strong compliance culture. 

Outcome

An awareness for participants on the ‘how’, ‘what’, ‘when’ in tax compliance.

Day 2(Wednesday 12th November) Location:Location: Local Enterprise Office - Dublin City, Dublin 8

Module 3

The Operation of Payroll & VAT Taxes in Small Businesses & the Bookkeeping Necessary to Ensure Compliance!

• VAT: Paperwork necessary in maintaining VAT records (incl’ VAT 3). Registration for VAT … the thresholds. 
• Invoice -v- cash receipts basis registration what they mean, how to decide what basis to choose. 
• Revenue taxes and Cash Flow Projections to pay the VAT bill. 
• Exceptional VAT items (incl’ two thirds rule). 
• Worked Case Study 
• PAYE / PRSI: How best to maintain payroll records. 
• ‘When’, ‘How’ to register for payroll tax. 
• The ‘full’ cost of employing persons. 
• Setting wage levels incl’ provision for tax credits, employee PRSI 
• Worked Case Studies. 

Outcome

To develop a competence in participants in proper administration; VAT / PAYE/ PRSI obligations and how good booking assists.