Essential Tax, VAT, Bookkeeping, Cash flow, Pricing & Debt Collection for Your Small Business - Everything you need to know

Programme Aim

The programme aims to provide participants with guidance on how to maintain a set of books, understand the finances for their organisation and to equip participants with the necessary knowledge on how to fulfill their taxation compliance obligations. To help owners and / or key accounts staff to better understand and use the financial data that they may be presented with in-house or by an accountant.

Programme Objectives

• Different forms of taxation in Ireland, how to register for tax
• Self Assessment system explained
• Completing the Form 11 tax return
• Using Revenue On-line System (ROS)
• Explain tax implications for sole trader, partnership and company
• Record keeping obligations, Calculating tax liability, Deductible Expenses
• Capital Allowances explained – examples and exercises used
• Employer obligations, PAYE/PRSI for employees
• Important dates/Contact numbers – income tax, corporation tax, PAYE/PRSI. VAT

The progamme will assist you in:

• Understand the taxation obligations imposed on the self-employed by Revenue, calculation of tax liabilities and completing tax returns on line
• Explain accounting terminology
• Detail the different types of company formation and the factors to consider in selecting the most suitable type
• Be able to read financial statements, including Profit & Loss Account, Balance Sheet
• Keep proper accounting records, inc books of original entry – purchases, sales, cash ledgers etc
• Understand business cost drivers
• Prepare and monitor cash flow projections to anticipate cash flow problems
• Setting budgets, variance analysis and performance review
• Working Capital Management
• Setting Prices – influencing factors breakeven analysis
• Getting Paid - Credit approval and debt management techniques

Modules covered in the course are:

• Module 1a: Tax, VAT and Manual Payroll for Small Businesses
• Module 1b: Payroll and Payroll Taxes
• Module 2: Bookkeeping and Cash flows for Small Businesses
• Module 3: Pricing Strategy, Costing & Debt Collection
• Module 4: Completing your Tax Return and Reviewing your Year in Business

Participants will be provided with the following excel templates, which will be tailored to their needs:

• a cash forecast template to forecast and monitor their cash position
• a budget template to prepare a dynamic forecasted profit & loss account for their organisation