PROGRAMME OBJECTIVES:

At the end of this course Trainees should be able to

• keep and organise appropriate records
• prepare daybooks, especially a simple bank book
• extract key information for taxation and financial management purposes

OUTLINE CONTENT

• Review Self Assessment system explained – income tax compliance obligations
• Record keeping obligations – receipts, invoices etc
• Using technology to keep records, photos, apps etc
• Review deductible expenses
• Identify how tax is calculated
• Tax dates- preliminary tax, tax returns – Form 11
• Contact numbers
• Dealing with your accountant
• Introduction to Daybooks – using sample
• Prepare of the following: Concentrating on Manual Daybooks and day to day bookkeeping to gain basics
• Basic bookkeeping and accounts terminology explained
• Bank Receipts Book & Bank Payments Book (Bank Book)
• Reconciling to bank statements
• Sales book
• Purchases book
• Petty Cash Book or equivalent
• Using software – procs, cons, samples, demos and choosing the right one for you if appropriate
• Ace Training templates available as part of course for non VAT, VAT registered businesses. Introduce various Ace templates and picking the right one for you
• Filing
• Setting up daybooks above to ensure useful information available for tax returns and financial management
• Practice daybooks – exercise and case studies provided
• Different types of accounting packages
• Introduction to VAT and compliance obligations
• Extracting key information from daybooks to prepare Profit and Loss Account, Balance Sheet and snapshot report
• Practice daybooks and financial reporting– exercise and case studies provided
• Introduction and Demonstration of ROS (using slides obtained by Ace Training from Revenue)
• Using Revenue On-line System(ROS) and registering on ROS.
• Using other tools available from Revenue, e.g. dROS Preparation Facility
• Introducing Form 11 and completing same using ROS Offline Application or ROS

Methodology outline at start of this section applies. Templates provided