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Post Info TOPIC: Bookkeeping for event planning companies


Newbie

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Bookkeeping for event planning companies


Hello everyone

 

This is my first post here

This is my first book keeping job as well

My client is an event planning company

Is there any source where I can view special accounting and book keeping procedures regarding event planning companies? 

 

Thanks in advance



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Master Book-keeper

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So hows about an intro before we start. We always ask newbies!

Usual stuff - what prof body do you belong to, do you work for yourself or in a practice/ firm, are you a bookkeeper or accountant, what qualifications, how long in role, where up to in your studies-what exams passed/with what body/in midst of doing, where based (are you actually based in Saudi as you have suggested on your profile?), what you did before this role? That sort of thing. Helps get to know you but also how best to pitch answers.

Please add your first name so that appears on your posts each time (profile, signature, edit)

 

or perhaps this is potential VEIS



-- Edited by Cheshire on Thursday 29th of March 2018 06:24:54 PM

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Joanne  McCormick

Fallows  Hall  Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Guru

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Another OP who has been back on since Joanne's reply but has now gone all shy with no further comments!



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Doug

These are only my opinions of how I see things and therefore should not be taken as advice



Master Book-keeper

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He he he brilliant avatar Doug.



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.



Guru

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Leger wrote:

He he he brilliant avatar Doug.


 

Hi John, just following your lead biggrin



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Doug

These are only my opinions of how I see things and therefore should not be taken as advice



Newbie

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Hello Chesshire and everyone Yes I do live in Saudi Arabia,there is no body for book keepers here My background is a B.A in accounting ,a CMA and 2 years working as an auditor Sorry for being late to reply

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Master Book-keeper

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Artois wrote:
Leger wrote:

He he he brilliant avatar Doug.


 

Hi John, just following your lead biggrin


 Ha - brilliant!

Im sticking to my summery theme in an effort to ward off the Beast from The East 3 which is due tomorrow, apparantly!

Happy Easter boys



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Joanne  McCormick

Fallows  Hall  Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Master Book-keeper

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Someone005 wrote:

Hello Chesshire and everyone Yes I do live in Saudi Arabia,there is no body for book keepers here My background is a B.A in accounting ,a CMA and 2 years working as an auditor Sorry for being late to reply


 Hi

I had to look up 'CMA' - understand its an American qualification.    

Not sure if you had realised, but this is a UK based site, which is why I asked for the clarification.   So the rules and regs that apply to the UK will not necessarily apply to KSA.  eg what is an allowable expense here may be disallowed there and vice versa.  I understand that IRFS has been adopted but is in its infancy and that also VAT has recently been introduced so its sounds like there are a lot of changes afoot. Sometimes a good thing as there is an information overload from the parties who govern such.

Bookkeeping is goverened by the same body as Accountancy is it not?  You mentioned Accountancy as well in your query, so I would suggest that you start with them for some guidance and then try the tax authorities.

Although I would also caution you to get some kind of insurance, if such exists, to cover yourself in the event of a claim from your client, who I assume, you have not advised that you lack experience in this area. (So also check that the insurance will pay out given that factor).

Event planning is a very broad topic, but Ive assumed that business is restricted to the KSA and doesnt involve work in other countries.



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Joanne  McCormick

Fallows  Hall  Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Master Book-keeper

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Date:

Cheshire wrote:
Artois wrote:
Leger wrote:

He he he brilliant avatar Doug.


 

Hi John, just following your lead biggrin


 Ha - brilliant!

Im sticking to my summery theme in an effort to ward off the Beast from The East 3 which is due tomorrow, apparantly!

Happy Easter boys


 Happy Easter Joanne, so far BFTE3 has passed us by, although it has been dull and dank today.



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.



Guru

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Morning Guys & Girls and a belated Happy Easter

No Beast here just rain and lots of it, so nothing new there!



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Doug

These are only my opinions of how I see things and therefore should not be taken as advice



Master Book-keeper

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Lots of snow (much) earlier on the Chester to Holyhead road (according to my Mum!)

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Joanne  McCormick

Fallows  Hall  Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Master Book-keeper

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Did nowt but rain all day here, did a nice bit of aquaplaning on the way home last night though, hit a complete roadwidth puddle at about 50 odd mile an hour, wheeeeeee.  To be fair the car handled it well.



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John 

 

 

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Master Book-keeper

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OP £8424 #bloody rude.


I can just see it now John

Image result for car that turns into a boat



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Joanne  McCormick

Fallows  Hall  Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Master Book-keeper

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Hahahahah  it wasn't that bad but you have reminded me of the time me and my mate went to a football match and ignored a road closed - flooded sign.  I know the road but didn't realise it had a small downhill gradient and thought we'd get through to the other side.  It was at the point of the water lapping the bonnet that I decided it was probably best not to go any further, and reverse back up the road!



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.



Guru

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Cheshire wrote:

OP £8424 #bloody rude.


 Very, OP has been back on but could not even be bothered to thank you for your reply



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Doug

These are only my opinions of how I see things and therefore should not be taken as advice



Forum Moderator & Expert

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Not seen any of the wit and wisdom of Portia for ages? Wonder where she's gone... Probably led astray by Lucy.

And that last sentence probably won't mean a damn thing to 90% of the people who read it... But it will to anyone who understand £8424.

Laters.



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Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.



Master Book-keeper

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Hi boys
Doug - half didnt expect a thank you as I was delivering news they wouldnt want to hear, but not acknowledged in any way shape nor form. As Ive said before manners cost nothing!

John - that had me giggling! Good thing you didnt stall!

Shaun - I saw Portia yesterday. She has been around, much less ascerbic as well as much less responsive, which is all a bit odd! (Maybe her and Lucy have fallen out!)

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Joanne  McCormick

Fallows  Hall  Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Veteran Member

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Shamus wrote:

And that last sentence probably won't mean a damn thing to 90% of the people who read it... But it will to anyone who understand £8424.


 Totally over my head but you all make me smile biggrin

 



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Janet

They keep making the system idiot proof but then make bigger and better idiots!



Master Book-keeper

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Hi Shaun and Joanne

Who's Lucy? I think I missed that somehow.



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John 

 

 

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Hi John,

over on Aweb, if you follow Portia she has a friend called Lucy who on occassion may lead her astray with the odd bottle of tequila.

If you get chance to read any of Portia's posts they are very funny. often cynical with a side helping of sarcastic.

following her posts on aweb (which as evidenced above I have been pretty lax about recently) and 20 seconds in Thailand over on Youtube are a couple of my guilty pleasures.

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Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.



Master Book-keeper

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Hi Shaun 

Yes, I'm familiar with Portia (not in that way lol) but never heard of Lucy. I shall have to have a gander.

My favourite Portia moment is a post she was quite scathing about, and she ended with the acronym JOYC.  That had me giggling.

 

I did disagree with her once, in regards to subsidence costs for a minicab driver. Personally I don't allow them unless bought away from their normal town of work.  Portia disagreed, because by their very definition, cab drivers are itinerant.  Thoughts?  https://www.accountingweb.co.uk/any-answers/is-subsistence-expenses-allowable-for-a-mini-cab-driver-as-a-sole-trader



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.



Guru

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Leger wrote:

Hi Shaun 

Yes, I'm familiar with Portia (not in that way lol) but never heard of Lucy. I shall have to have a gander.

My favourite Portia moment is a post she was quite scathing about, and she ended with the acronym JOYC.  That had me giggling.

 

I did disagree with her once, in regards to subsidence costs for a minicab driver. Personally I don't allow them unless bought away from their normal town of work.  Portia disagreed, because by their very definition, cab drivers are itinerant.  Thoughts?  https://www.accountingweb.co.uk/any-answers/is-subsistence-expenses-allowable-for-a-mini-cab-driver-as-a-sole-trader


 Hi John

Didn't know you used to be a taxi driver, hope those sausages and wedges didn't give you wind.

I personally would have thought that the nature of being a taxi driver would mean that just because they "travel from place to place" I would still argue that this was still part of their regular work pattern, but got no taxi drivers as clients so never had to really think about it before, interesting 

At least you had the last say on the thread.

 



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Doug

These are only my opinions of how I see things and therefore should not be taken as advice



Master Book-keeper

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Leger wrote:

Hi Shaun and Joanne

Who's Lucy? I think I missed that somehow.


Hi John  and Janet

Try Portia's blog - start from the oldest and work your way up.  Not that many and worth it with a brew - be prepared for a giggle. https://www.accountingweb.co.uk/profile/portia-nina-levin?qt-my_activity=2&page=563

 



__________________

Joanne  McCormick

Fallows  Hall  Ltd

Winner - Bookkeeper of the Year 2015, 2016 and 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.



Master Book-keeper

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Date:

Artois wrote:

 


 Hi John

Didn't know you used to be a taxi driver, hope those sausages and wedges didn't give you wind.

I personally would have thought that the nature of being a taxi driver would mean that just because they "travel from place to place" I would still argue that this was still part of their regular work pattern, but got no taxi drivers as clients so never had to really think about it before, interesting 


 Hi Doug

I was a taxi driver for 12 years up until 2001, mainly private hire, but I did do some hackney work as well in the earlier years.  The vast majority were local, with just the occasional trip out of town, which is why I don't allow subsidence unless the receipt is also out of town.  I've only got one taxi driver on my books at the mo, and he nips home for his tea!

 I also have a slight claim to fame as I picked up Tara Fitzgerald and Euan Mcgregor (before he became famous) when they were working on Brassed Off.  Worst thing was I didn't know they were actors, I had simply been asked to pick a fare up from Grimethorpe and take them to London.

When I say wedges they were really more like roast potatoes with a special coating and I would have 6 of them and a jumbo sausage for something like £1.30.  Probably not the best think to eat at 3 am in the morning and no doubt this was a major contributor to my girth. 



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John 

 

 

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Veteran Member

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Cheshire wrote:

Try Portia's blog - start from the oldest and work your way up.  Not that many and worth it with a brew - be prepared for a giggle. https://www.accountingweb.co.uk/profile/portia-nina-levin?qt-my_activity=2&page=563

 


 I was looking for something to help me with my procrastination...I like her style, very entertaining biggrin

20 seconds in Thailand is good too although I was a bit dubious about searching for that one!!

Thanks for the entertainment direction, much better way to keep me occupied than shuffling papers :)



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Janet

They keep making the system idiot proof but then make bigger and better idiots!

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