New Client & CIS - The Book-keepers Forum (UK)

Nikole · Senior Member

New Client & CIS

Cheshire · Master Book-keeper

Hi Nicola
Not seen you for a while!

Is this JUST the bookkeeping or Accounts as well?

Did you sign up for the ACCA course? Answer to that may determine the answer in part.

Nikole · Senior Member

Hiya Joanne,

They have advised me bookkeeping which consists of a handful of sales and purchase invoices that will need posting to Sage.The owner will apparently generate the invoices then i just need to post them to Sage. I haven't agreed to take the work on yet as i would like to meet with them and see how they operate.

I haven't signed up to ACCA Yet. Hopefully i am going to sign up around April *gulp*

I really would like to gain practical experience in areas other than bookkeeping as i'm never going to progress from where i am if i don't take the leap, but at the same time i do not want to commit to something that may be out of my depth.

Cheshire · Master Book-keeper

Hi again
If its just the bookkeeping then from an ACCA perspective you are abolutely fine from the point of view that you are not breaching regulation 8 which only allows you to go to Trial Balance.

Now - from the AAT point of view - two angles. (1) Is your licence with them and does it restrict you taking such work? (2) Is it ethical. Stricly speaking no. But then its the never ending chicken and egg job.

I would suggest, given where you are in your studies (as opposed to a think they know it all when theyve passed level 2, which is frightenly on the increase!) that you consider doing it alongside the backup you can get on here and given the guy will have an Accountant who perhaps you can tap up for a bit of mentoring of just this client's requirements. Am sure they would be happy to do some light touch, occasional hand holding or supervision. As long as they dont have a big bookkeeping/CIS department themselves.

But yes I would take a look at what they have going on already with their paperwork first and only do it if you can get EVERYTHING from the previous bookkeeper.

Good luck with the ACCA.

Dont be a stranger!!!!!!!

Nikole · Senior Member

I don't have a licence with AAT as i've got the synoptic to do yet. If i am moving onto ACCA afterwards would i need to still apply for an AAT licence. Must check on that with them tomorrow.

I would welcome any help given to me on here or from their Accountant. That's of course if i accept the work. By the sounds of it, they are only generating a handful of CIS invoices per month. Their current Bookkeeper does everything in-house so i should be able to get a good idea of just how much work is involved.

ACCA - Thank you :) - I really must open the dreaded synoptic book instead of reading Jeffrey Archers books!.

Artois · Guru

Hi Nicole

As Joanne says go and have a look and see what is involved.

Bookkeeping for the CIS side should not be a problem, as long as it has been accounted for correctly up until you take over then all you will have to do is continue with the same procedures also as said plenty of people on here deal with CIS so help will always be on hand.

Good luck

Nikole · Senior Member

Thanks Doug!

Ideally I would have liked to have gained some practical experience but without me doing some voluntary work I'm a little stuck.

I'd love to be able to put to use my level 4 qualifications on a voluntary basis but sadly accountants aren't Interested when I mention I am a Bookkeeper.

Leger · Master Book-keeper

Hi Nicola

I've done a few CIS in my time as well. Any practical help you need if you take on the gig just ask on here, sounds like we're all eager to help.

Nothing to be frightened of CIS wise. Once you get into it you should find it reasonably straightforward.

Will it be Ltd Co or sole trader and will you be doing the payroll side?

Nikole · Senior Member

Hi John,

I am really grateful for yours and everyone else's offer to help if needed. It really is kind of everyone. Yes I will be taking over the payroll as well and Ltd Company. I was planning on researching more this weekend but now I have a stinking cold and want to sleep

Cheshire · Master Book-keeper

Nikole wrote:
I don't have a licence with AAT as i've got the synoptic to do yet. If i am moving onto ACCA afterwards would i need to still apply for an AAT licence. Must check on that with them tomorrow.
I would welcome any help given to me on here or from their Accountant. That's of course if i accept the work. By the sounds of it, they are only generating a handful of CIS invoices per month. Their current Bookkeeper does everything in-house so i should be able to get a good idea of just how much work is involved.
ACCA - Thank you :) - I really must open the dreaded synoptic book instead of reading Jeffrey Archers books!.

Hi Nicola

Have you booked that wretched synoptic? Not entirely sure how it works except from what Ive seen your textbooks will only cover you for this year as the AAT have said they will change it each year, so dont you need to get booking? I know what you mean about doing anything else (including bathroom cleaning) rather than study!!!!! Go for it - you can do it!!!!!!!!!

If you are moving to the ACCA then you can stay with HMRC for your MLR cover. Or you can apply to the AAT. But if you do the latter then even if you get a licence from the AAT to go beyond TB you still couldnt under the ACCA regs (which trump the AAT every time!). So might be better to stay with HMRC (cheaper) or just go with the AATQB licence, with the ability to include payroll.

Nikole · Senior Member

Cheshire wrote:
Nikole wrote:
I don't have a licence with AAT as i've got the synoptic to do yet. If i am moving onto ACCA afterwards would i need to still apply for an AAT licence. Must check on that with them tomorrow.
I would welcome any help given to me on here or from their Accountant. That's of course if i accept the work. By the sounds of it, they are only generating a handful of CIS invoices per month. Their current Bookkeeper does everything in-house so i should be able to get a good idea of just how much work is involved.
ACCA - Thank you :) - I really must open the dreaded synoptic book instead of reading Jeffrey Archers books!.
Hi Nicola
Have you booked that wretched synoptic? Not entirely sure how it works except from what Ive seen your textbooks will only cover you for this year as the AAT have said they will change it each year, so dont you need to get booking? I know what you mean about doing anything else (including bathroom cleaning) rather than study!!!!! Go for it - you can do it!!!!!!!!!
If you are moving to the ACCA then you can stay with HMRC for your MLR cover. Or you can apply to the AAT. But if you do the latter then even if you get a licence from the AAT to go beyond TB you still couldnt under the ACCA regs (which trump the AAT every time!). So might be better to stay with HMRC (cheaper) or just go with the AATQB licence, with the ability to include payroll.

Not even opened the book yet!. I keep meaning to then something happens. Think I'll have to start on it after half term. I didn't realise the synoptic book covered you for the year. Mine is related to 16/17 so need to speak to Kaplan. Same happened with MCDL. I ploughed through the books and didn't realise that some of the content had been removed due to AAT changing MCDL exam. I may as well stay with Hmrc as I have only just renewed.

Is the synoptic as dreaded as everyone makes out. I'm hearing it's on par with PETH.

Cheshire · Master Book-keeper

Nikole wrote:

Is the synoptic as dreaded as everyone makes out. I'm hearing it's on par with PETH.

Absolutely no idea Im afraid.

If you do need new books from Kaplan then I posted a discount code on here a couple or three weeks back (suitably headed link if I recall) - it still works even though it was originally posted more than 12months ago. (But keep it quiet! biggrin )

JRA · Veteran Member

Hello Nikole,

It's been many years since I have worked on CIS, however, what I can say is that this forum is a great place for answers :)

My only advice is try not to over complicate it, often the simple solution works. If all else fails try T accounts :)

Chris

Nikole · Senior Member

Cheshire wrote:
Nikole wrote:

Is the synoptic as dreaded as everyone makes out. I'm hearing it's on par with PETH.
Absolutely no idea Im afraid.
If you do need new books from Kaplan then I posted a discount code on here a couple or three weeks back (suitably headed link if I recall) - it still works even though it was originally posted more than 12months ago. (But keep it quiet! )

Thanks Joanne :)

Nikole · Senior Member

First CIS Return completed and it wasn't as difficult as I thought. Clients Sage software has the CIS add on which is a bonus.

Now moving onto management accounts. Client has asked if I'd like to start working on this at some point. I've passed the exam and understand the concept but never actually produced any monthly accounts. He's fully aware of this so he's not pushing me to complete immediately. Are there any tips or anything that I need to be mindful of when I do eventually start producing the monthly accounts.

Artois · Guru

Nikole wrote:
First CIS Return completed and it wasn't as difficult as I thought. Clients Sage software has the CIS add on which is a bonus.
Now moving onto management accounts. Client has asked if I'd like to start working on this at some point. I've passed the exam and understand the concept but never actually produced any monthly accounts. He's fully aware of this so he's not pushing me to complete immediately. Are there any tips or anything that I need to be mindful of when I do eventually start producing the monthly accounts.

Hi Nikole,

Glad it went well and the client must be happy if they are offering you more work.

I would imagine that doing the monthly accounts would just be a case of carrying on from where the previous bookkeeper left off, you say you are using Sage which will be able to generate the reports it just depends what they require and at least you are being upfront with them by saying you have never done them before, so I am sure it will work out fine.

Nikole · Senior Member

Hi Doug,
Client showed me an excel spreadsheet which shows the management accounts so yes it is very much a case of following on from the previous Bookkeeper.
I'm thankful he's giving me the opportunity as its hard to gain practical experience on a voluntary basis.

Cheshire · Master Book-keeper

Hi Nicola
Is the bookkeeping via spreadsheet or is the sheet an add on, just managements?

Was going to suggest you ask him what he wants from such managements as folk want different levels of information, but if he is happy with that and understands what he is looking at then you know what he needs. Question then is how reaily available is the information without doing lots of tweaks/knowing what tweaks to do. (eg monthly accruals etc).

Some also will depend on which area of CIS he is in, whether he needs to monitor projects, costings and % completions sort of thing.

Nikole · Senior Member

Hi Joanne,

The management accounts are on a spreadsheet. They are pretty much up to date so i'll just need to follow on from where the previous Bookkeeper left off. Hopefully i have everything i need readily available *fingers crossed*