The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> Newbie query
Post Info TOPIC: Newbie query
racheas


Newbie

Status: Offline
Posts: 3
Date:
Newbie query
Permalink  

Hi 

I recently started my bookkeeping service and up until now I have had 2 clients who are both new businesses with no previous accountant. I have acquired a third client now but she has used an accountant for the past 3 years. They parted ways in March and she hasnt had any accounts prepared since then. I have been provided with statement of financial position as at march 2013, statement of comprehensive income for the month ended march 2013 (includes year to date figures), a statement of cash flows for the month ended march 2013. Is this enough information to set up the accounts in Quickbooks (Accountant 2013). Do I need to ask for a trial balance to get opening balances to set up the accounts or do I use the year to date figures from the statement of comprehensive income? I really appreciate your help.

 

Thanks a lot guys.



__________________
RuthA


Senior Member

Status: Offline
Posts: 270
Date:
Permalink  

Yes, you will need more detail eg a breakdown of debtors and creditors. Similarly the reports you've been given may well have totalled more than one bank account, so a full trial balance would be best.

__________________

Ruth (AFA, ACIB)

Shore Accounting
www.shoreaccounting.co.uk
Cheshire


Master Book-keeper

Status: Offline
Posts: 8646
Date:
Permalink  

Hi
Yes a full trial balance is a good start, although if they parted on good terms it might also be worth getting a Detailed 'Activity/Audit' list, especially if it isnt a year end, plus as Ruth suggests a full breakdown on creditors and debtors. Get as much as you can



__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

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

You should check out answers with reference to the legal position
Shamus


Forum Moderator & Expert

Status: Offline
Posts: 11981
Date:
Permalink  

Don't forget the fixed asset register as you'll need to know the depreciation schedules of all assets.

__________________

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.
racheas


Newbie

Status: Offline
Posts: 3
Date:
Permalink  

Thank you so much!

__________________
Page 1 of 1  sorted by
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> Newbie query
Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) 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 Book-keepers Forum and BKF 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 Book-keepers Forum. 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 Book-keepers Forum. 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: bookcertltd@gmail.com.

Privacy & Cookie Policy  About