The Bookkeepers.Network (BKN)

Post Info TOPIC: New Client & CIS


Senior Member

Status: Offline
Posts: 196
Date:
New Client & CIS


Hello,

I will be meeting with a potential new client next week and they have advised me that the bookkeeping involves CIS. Although I am familiar with CIS and understand how it works, I have never had any practical experience. Potential client uses Sage for payroll and accounting which I am familiar with but as I've never had any practical experience with CIS would I be wrong to take on the client.



__________________


Master Book-keeper

Status: Offline
Posts: 7120
Date:

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.

__________________

Joanne

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.



Senior Member

Status: Offline
Posts: 196
Date:

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.

__________________


Master Book-keeper

Status: Offline
Posts: 7120
Date:

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!!!!!!!



__________________

Joanne

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.



Senior Member

Status: Offline
Posts: 196
Date:

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!.



__________________


Guru

Status: Offline
Posts: 630
Date:

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



__________________

Doug

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



Senior Member

Status: Offline
Posts: 196
Date:

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.



__________________


Master Book-keeper

Status: Offline
Posts: 2640
Date:

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?



__________________

John

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



Senior Member

Status: Offline
Posts: 196
Date:

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



__________________


Master Book-keeper

Status: Offline
Posts: 7120
Date:

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.



__________________

Joanne

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.



Senior Member

Status: Offline
Posts: 196
Date:

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.



__________________


Master Book-keeper

Status: Offline
Posts: 7120
Date:

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)



__________________

Joanne

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.

JRA


Veteran Member

Status: Offline
Posts: 81
Date:

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

__________________

www.juderoseaccountancy.com



Senior Member

Status: Offline
Posts: 196
Date:

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!biggrin)

Thanks Joanne :)




__________________



Senior Member

Status: Offline
Posts: 196
Date:

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.



__________________


Guru

Status: Offline
Posts: 630
Date:

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.



__________________

Doug

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



Senior Member

Status: Offline
Posts: 196
Date:

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.

__________________
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.

Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  

2018 The Bookkeepers Network (BKN). All Rights Reserved. The Bookkeepers Network (BKN) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Bookkeepers Network and BKN are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Bookkeepers Network. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Bookkeepers Network. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: info@bookkeepers.network or info@bookcert.co.uk.

Privacy & Cookie Policy