Bookkeeping & VAT Return Practical Training

• Makes you to learn and identify the needs of the company. Implement the discussion on template.
• Its Software is being configured and based on identified company needs.

The Module has been customised and set up according to the following:

1. Arrangement of accessible rights to users
2. Arrangement of Bank, cash and credit card accounts
3. Arrangement of Customer and supplier records
4. Arrangement of Departments

• You learn how to use default settings that results in determining the data the way it is being displayed in SAGE 50.
• Changing the system date & accounting periods.
• SAGE 50 makes it easier to work as it divides the whole fiscal year into a number of accounting periods.
• You learn how to identify and choose the correct accounting period and know how to modify the system date in SAGE 50.

• Deeper understanding of subsidiary and general ledger, setting up the chart of accounts.
• Arrangement of the Customer, Supplier and Tax codes.
• Arrangement of the software for company use by entering opening balances for nominal, customer and supplier accounts.

• Analysing supplier invoices, credit notes and post supplier payments.
• Analysing supplier account activity.
• Computing reconciliation of supplier account activity.
• Recording supplier invoices & carrying out aged creditor analysis.
• Designing various Daybook reports for the Supplier activity.
• Organizing the purchase budgets and payment runs via Supplier reports.
• Modify and revise the supplier account details.
• Arrangement and processing of recurring transactions.

• Analyse various bank accounts.
• Performing on numerous petty cash transactions.
• Accessing the petty cash reconciliation.
• Recording the bank transactions.

• Rectification, identification and correction of errors while computing.
• Analysing and keeping the data safe by using various backups.
• Understanding various options available to manage the overall bookkeeping.
• Keeping an eye on the transactions and generating audit trails.
• How to record and process General Trail balance and financial statements.

• Deeper knowledge and understanding of various VAT Scheme.
• Updating and analysing of Cash, Standard , flat rate schemes in Software.
• Understanding the various other policies related to VAT on goods from EU Countries.
• Keeping a general record of the various matters related to Acquisition Tax.
• Deeper Knowledge and better understanding of Intrastat Supplementary declarations.
• Updated Knowledge of Tax matters on goods purchased from non-EU countries , and how to process and apply for EORI.
• Claiming relief on the goods returned outside EU.
• Analysing and choosing the appropriate VAT quarters.
• Keen Observation and analysis of all spreadsheets related to the transactions.
• Proper analysis of VAT related to mixed transactions ,identifying the zero rated, standard rated items and recording it and performing a reconciliation to calculate the VAT.
• Introduction to various important VAT industry specific issues for Retail , IT , Construction industries.
• Writing off bad debt and perform a VAT reclaim.
• Guidelines and knowledge about how to perform VAT adjustments.
• For better understanding on how to the work on VAT regular workshop has being introduced.