Basic Bookkeeping & Tax

What's Covered:

• 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
• Preparation of the following: Concentrating on Daybooks and day to day bookkeeping
• Basic bookkeeping and accounts terminology explained
• Practical application of Bank Receipts Book & Bank Payments Book (Bank Book)
• Reconciling to bank statements
• Templates provided linking to profit and loss account on Excel
• Sales book – demonstration, introduction and template
• Purchases book - demonstration, introduction and template
• Petty Cash Book or equivalent -demonstration, introduction and template
• Setting up daybooks above to ensure useful information available for tax returns and financial management - template provided
• Controls to ensure accuracy
• Manual v. Excel v. Computer packages Different types of accounting packages
• Using Revenue On-line System (ROS) and registering on ROS