Programme Objectives: At the end of this course Trainees should be able to  :

• Keep and organise appropriate records
• Start to full comply with tax rules and regulations
• Prepare daybooks, focusing  a simple bank book
• Extract key information for taxation and financial management purposes   

Outline Content

Tax:

• Self Assessment system explained – income tax compliance obligations
• Registering for tax – what to consider – income tax, Vat, employer, companies, sole traders
• Review deductible expenses – what can I put through the books
• Day to day expense v capital allowance
• Identify how tax is calculated
• Key Date to remember- preliminary tax, tax returns – Form 11
• Contact numbers
• Dealing with your accountant

Bookkeeping

Record keeping obligations – receipts, invoices etc

• Using technology to keep records, photos, apps etc
• 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
• Focus on Bank Receipts Book  & Bank Payments Book (Bank Book)
• Other Daybooks
• Sales book
• Purchases book 
• Petty Cash Book or equivalent
• Using software – pros, cons, samples, demos and choosing the right one for you if appropriate. Different types of apps and accounting packages
• Introducing Form 11 and completing same using ROS Offline Application or ROS
• Extracting key information from daybooks to prepare Profit and Loss Account, Balance Sheet and snapshot report

 Methodology outline at start of this section applies. Templates provided 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