Expert Level

Candidates will receive a hands-on training and will know how to perform the following tasks:

• Setting up companies
• Setting up a company either as a cash accounting scheme or a standard accounting scheme
• How and when to register for VAT
• Choosing the chart of accounts that suits the firm's needs and how to customize it
• How double entry is applied in accounting software and how to customize the nominal ledger and nominal codes
• Setting up customers accounts
• Process customers batch invoices, individual invoices and credit notes Suppliers accounts setup
• Processing suppliers invoices and credit notes
• Generate reports on invoices due, customer/supplier invoice activity
• Performing error corrections
• Allocating payments and receipts of cash in a business Allocating bank payments and receipts
• Allocating Supplier/Customer Payments and Receipts Performing bank reconciliation
• Processing the VAT return and reconcile the VAT return Submitting the VAT return to HMRC
• Knowing how to deal with other VAT issues
• Performing Debtor Analysis Credit control procedures
• Candidates will perform Computerised Book-keeping, Bank Reconciliation & VAT Returns for various industry businesses, gaining a greater insight into accounting up to trial balance
• Candidates will gain strong understanding of how to prepare client's account from incomplete records, using various accounting software
• Deeper understanding of VAT - Rules of registration and de-registration Reconciliation of VAT, Completing a VAT return.
• Import and export VAT analysis
• Calculating VAT for a business with mixed zero-rated and standard-rated sales, combining Sage and Excel
• Candidates will perform Excel Spreadsheet Book-keeping and Bank Reconciliation Candidates will gain an insight into how to deal with HMRC queries
• Performing Stock Control using Computerised Book-keeping How to keep a track of Stock movements extract Bill of materials.
• Candidates will perform sales order processing, purchase order processing and stock reporting.
• Invoicing from stock and updating stock records

In the Fundamental level training candidates gain knowledge uptill quarterly accounts & submission of VAT to HMRC.

In addition to tasks completed in Fundamental level, candidates have the opportunity to cover the following in Intermediate level training.

• Internal control procedures for tangible fixed assets and cash
• Reconciliation of Control Accounts (Debtors and Creditors Control, VAT, PAYE, Wages, Directors, Bank Loans, Suspense Accounts – etc.
• Posting adjusting journal entries at month end such as Accruals,
• Prepayments,
• Depreciations, calculating depreciation using different methods VAT
• Intercompany transactions and reconciliations
• Using a Computerised accounting package of your choice. Preparing closing entries
• Preparing the Final Trial Balance
• Producing a classified profit & Loss account and Balance sheet in a Excel spreadsheet
• Dealing with HMRC queries and small tax matters
• Summaries and analyses financial data and produce reports for management purposes
• Monthly, Quarterly Management Accounts Performing banks reconciliation
• Learning about VAT management
• Running the year end procedure in Sage line 50 Accounts to close the financial year and start a new financial year

In the Fundamental level training candidates gain knowledge uptill quarterly accounts & submission of VAT to HMRC.

In addition to tasks completed in Fundamental level, candidates have the opportunity to cover the following in Intermediate level training.

• Internal control procedures for tangible fixed assets and cash
• Reconciliation of Control Accounts (Debtors and Creditors Control, VAT, PAYE, Wages, Directors, Bank Loans, Suspense Accounts – etc.
• Posting adjusting journal entries at month end such as Accruals,
• Prepayments,
• Depreciations, calculating depreciation using different methods VAT
• Intercompany transactions and reconciliations
• Using a Computerised accounting package of your choice. Preparing closing entries
• Preparing the Final Trial Balance
• Producing a classified profit & Loss account and Balance sheet in a Excel spreadsheet
• Dealing with HMRC queries and small tax matters
• Summaries and analyses financial data and produce reports for management purposes
• Monthly, Quarterly Management Accounts Performing banks reconciliation
• Learning about VAT management
• Running the year end procedure in Sage line 50 Accounts to close the financial year and start a new financial year

OVERSEAS TRADE, UK FOREIGN VAT

• Understanding of International Trade European Union (EU) VAT System Non-EU countries & Single Market
• Acquisitions and Dispatches Reporting Requirements Introduction to the UK TAX SYSTEM Different Types of taxes in the UK
• Difference between TAX EVASION AND TAX AVOIDANCE
• Difference between Direct and Indirect Tax Identify the correct headings under which main sources of income are taxed.
• Examples of Non-Taxable Income and Taxable Income
• Set out an income tax computation in the standard format
• Compute taxable income

TAX RETURN SUBMISSION AND DATES

• Penalties and Charges for late submission of Tax Returns
• Apply the correct tax rates, distinguishing between savings income, dividend income, and other income
• Identify personal allowances to which the taxpayer is entitled and explain the conditions which apply
• Employment Income
• National Insurance Contribution Class 1 P.A.Y.E
• TAX Codes

Corporation tax return CT 600

The Corporation tax practical training allows you to master the calculation and preparation of Corporation tax returns and allows you to understand the corporation tax year end for Accounts purposes.

You will be able to:

• Understand Corporation tax rules and regulations .
• Perform corporation tax calculations on actual companies.
• Understand Corporation tax returns and how to fill up the returns
• Prepare Corporation Tax control accounts
• Perform year end journal entries related to Corporation tax for the finalization of Statutory Accounts Production
• Understanding Directors loan account and Corporation Tax
• Understanding Losses and dealing with them for Corporation Tax
• Charities and Corporation Taxes
• Keeping records and ensuring Compliance with HMRC
• Learn how to operate Sage Corporation Tax and use Micro Soft Excel for the Corporation tax purposes

Sage Accounts Production Advanced (SAPA)

The FRSSE is a standard that may be applied by companies that qualify as small under the Companies Act and other entities that would have qualified as 'small' had they been incorporated. It brings together the relevant accounting requirements and disclosures from the other accounting standards and UITF Abstracts, simplified and modified as appropriate for smaller entities. It also includes relevant Companies Act requirements.

Suitable For

• Do you want to upgrade you skills from BOOKKEEPING to FINAL ACCOUNTS level and not getting a chance to learn new things!!
• Do you want to get full exposure of Management accounts and submission rules to companies house
• Do you want to learn how to deal with small and medium company accounts and submission of Abbreviated Accounts

Content

Our Sage Accounts Production Advanced (SAPA) Training contents include:

• Menu structure;
• Importing data from Sage line 50 as per initial Trail Balance and completing the final control accounts.
• Posting client and initial trail balance on SAPA, Navigating your way around the SAPA;
• Creating a client and amending the client database;
• Posting of clients data, including current year and comparative data;
• Working paper reports including lead schedules, trial balance, general ledger and audit trail;
• Working efficiently with documents and posting of data, including "Copy Document";
• Entering "Disclosure data"; As Per FRSSE and other relevant standards. Working with ROP's. Report Pads and Headings;
• Report Pad formatting - producing enhanced notes and reports; Producing draft and final financial statements;
• Completing and understanding the compliance as per company's house. Year end process.
• Making Abbreviated accounts of the company
• Finalizing the accounts and making the final file of the company for partner review.
• Learning how to do filing and making indexes of the company final accounts file.

Benefits

This course provides an overview of the latest version of the FRSSE, which is applicable for accounting periods beginning on or after 6 April 2008, and would benefit anyone who is involved in the preparation or review of the financial statements of small private entities.

Learning outcomes include obtaining a greater understanding of:

Learning Outcomes:

• What the FRSSE is and who can & can't use FRSSE.
• Differences between the FRSSE and full UK GAAP
• The revisions to the FRSSE applicable for accounting periods beginning on or after 6 April 2008

Budgets Forcasting & Financial Modelling*

Budgeting in a business has benefits and consequences that go beyond the financial dimension and have more to do with business management in general. Consider the following benefits of a budgeting process.

Budgeting forces managers to do better forecasting. Managers should be constantly scanning the business environment to spot changes that will impact the business. Vague generalizations about what the future may hold for the business are not good enough for assembling a budget. Managers must put their predictions into definite and concrete forecasts.

This course provides you with the best techniques and equips you with detailed analytical skills so that you can stand out from crowd while at job or during application process.

Introduction to Forecasting (Collection and examination of data)

• Smoothing Techniques Trend Analysis Regression Analysis Expected Values
• Evaluating Forecasting Techniques
• Perform advanced breakeven analysis for products and services Perform ratio analysis
• Work with dates, times, and strings of text and pluck out pieces of data from a database Perform What-if analysis to model and compare business scenarios
• Design a loan repayment calculator model using Excel
• Developing a financial plan
• Business Plans Appraisal (Net Present Value, Internal Rate of Return, Economic Order Quantity, Simple payback)
• Design and implement an investment model - NPV (Net present Value) Introduction to Budgets
• Making Budget Template Making Actual Template Variance Reporting Template Reporting Template

Self Assessment Return (SA 600)

UK has one of the highest statistics of Self Employed individuals with 4.2 million people who are Self Employed, amounting to 18% of total employment. All of them require a Self assessment Tax Return. Apart from that there are 4,788,000 Small and Medium companies which is 99.9 % of all private sector businesses in the UK having directors requiring Tax returns.

Self Assessment Tax Return Course enables you to target a very large UK market for professional services it enable you to calculate the Income and expenditure and prepare tax return for:

• Income from Self Employments.
• Income of company directors.
• Income from savings and investments of £10,000 or more
• Income from untaxed savings and investments of £2,500 or more
• Income from property of £10,000 or more before deducting allowable expenses or £2,500 or more after deducting allowable expenses
• employment income on PAYE above £100,000
• Anyone lived or worked abroad or aren't domiciled in the UK
• Have Capital Gains Tax to pay
• Anyone who owes tax and it cannot be collected through the tax code. For instance when the taxable Basic State Pension is greater than the Personal allowance.

In the Fundamental level training candidates gain knowledge uptill quarterly accounts & submission of VAT to HMRC.

In addition to tasks completed in Fundamental level, candidates have the opportunity to cover the following in Intermediate level training.

• Internal control procedures for tangible fixed assets and cash
• Reconciliation of Control Accounts (Debtors and Creditors Control, VAT, PAYE, Wages, Directors, Bank Loans, Suspense Accounts – etc.
• Posting adjusting journal entries at month end such as Accruals,
• Prepayments,
• Depreciations, calculating depreciation using different methods VAT
• Intercompany transactions and reconciliations
• Using a Computerised accounting package of your choice. Preparing closing entries
• Preparing the Final Trial Balance
• Producing a classified profit & Loss account and Balance sheet in a Excel spreadsheet
• Dealing with HMRC queries and small tax matters
• Summaries and analyses financial data and produce reports for management purposes
• Monthly, Quarterly Management Accounts Performing banks reconciliation
• Learning about VAT management
• Running the year end procedure in Sage line 50 Accounts to close the financial year and start a new financial year

This training package is everything you need to demonstrate your competency for the following roles:

• Finance manager Financial Accountant Management Accountant
• Accounts payable manager Credit controller
• Small business Performance Analyst

The two days Partnership tax practical training allows you to master the calculation and preparation of Partnership tax returns and allows you to understand the Partnership tax year end treatment for Accounts purposes.

You will be able to:

• Understand Partnership tax rules and regulations.
• Perform Partnership tax calculations on actual companies.
• Understand Partnership tax returns and how to fill up the returns
• Prepare Partnership Tax control accounts
• Perform year end journal entries related to Partnership tax for the finalization of Statutory Accounts Production
• Understanding Losses and dealing with them for Partnership Tax
• Keeping records and ensuring Compliance with HMRC
• Learn how to operate Sage Compliance and use Micro Soft Excel for the Partnership tax purposes

The two days Trust/ Charity tax returns practical training allows you to master the calculation and preparation of Charity tax returns and allows you to understand the Charity tax year end for Accounts purposes.

You will be able to:

• Understand Charity tax rules and regulations .
• Understand Charity and Trust & State returns and how to fill up the returns
• Prepare Charity Tax control accounts
• Perform year end journal entries related to Charity for the finalization of Statutory Accounts Production
• Understanding Losses and dealing with them for Charity Tax
• Keeping records and ensuring Compliance with HMRC
• Learn how to operate Sage Corporation Tax/ Sage Compliance and use Micro Soft Excel for the Charity tax purposes

How to submit the Companies annual return via Companies house web portal