Taking place over three days, 19th & 26th April and 3rd May, the aim of this course is to give the participants confidence in working with their business's books and records, and the knowledge needed to keep proper books of account and to deal with Revenue obligations, including demonstrations on how to use the Revenue Online System (ROS) to submit tax returns.

Objectives

• To explain and demonstrate what books and records must be kept by business owners and in what format
• To teach and explain which expenses are allowed to be claimed by businesses and those that are disallowed.
• To demonstrate and practice how to reconcile customer and supplier accounts
• To demonstrate and practice how to reconcile the bank account
• To teach the participants how to calculate and complete a VAT return
• To explain the Profit and Loss account and Balance Sheet and how the Books update these
• To demonstrate the calculation of income taxes and the completion of a Form 11 tax return

Outline

• Keeping and recording financial records
• Allowable expenses
• Assets, Liabilities, Income, Cost of Sales and Expenses
• Debtors and Creditors
• Bank Reconciliation
• Petty Cash and Business Visa Card
• The Profit and Loss Account and Balance Sheet
• VAT
• Income Tax
• PAYE, USC and PRSI