An accountant

GoatLeg

Hi,

I'm setting up a company in the next few days. I won't be in a position to trade for a while, so there'll be no client payments going thru the books for a while.

I don't know accountancy. Since there'll be no client payments for a while, I think it would be a fairly straightforward job for someone that knows what to do.

I'm looking for a cost-effective solution. Maybe someone that will just keep me on track or set me up so I can input what's necessary etc.

Where might I find a cost-effective solution?

I don't know if I would need someone local, but I'm South County Dublin.


Thanks, Richard

Cookie_Monster

get an accounting package suitable for your business and teach yourself. there's not that much too it if reasonably small company.

In addition to above you could simply hire/meet with a professional accountant once or twice to help you and once a year to finish off your accounts correctly

theg81der

What about a student? I`m sure they`d be willing to help to get exerience and have a reference.

I`m studying accountancy, am in 2nd year would be willing to help - tax is my fav subject?

No pressure

MartMax

As a small startup and you think you are not comfortable or confident enough to do the accounts, etc. there are bookkeeping services. However, I'd recommend you find a decent accountant who can offer all-in-one solution.

It does not mean that they'd do your books but they should be able to guide you along with accounting, taxes, secretarial matters, etc. Do shop around thou and if possible go with someone recommended by a person you know.

If it's going to be fairly small amount of transactions, Excel should do the job. Anyhow, Sage does give away free TAS Basic if you want to go that path. Again, if you have an accountant get their say about this.

GoatLeg

Thanks for those replies.

I want to try and get my head round it, but have someone to refer to to be sure I don't mess it up. For the first while, with no client payments going thru, I'm hoping that will work...!

buzzing

GoatLeg wrote: »

Thanks for those replies.

I want to try and get my head round it, but have someone to refer to to be sure I don't mess it up. For the first while, with no client payments going thru, I'm hoping that will work...!

Drop me a pm if you need assistance with this.

Ermo2010

I'm in South co Dublin. Accountant 23 yrs experience . Returning to the marketplace after caring for a parent and completing ACCA.
Depending on what role i get offered in the next month or so i might be looking for something for 5/10 hours a week.
Not sure yet....:pac:

Inquitus

All you need to do for now is file all your receipts in a orderly fashion in a ring binder or whatever, and keep a record of them in google docs or excel.

There's a plethora of free templates available on google docs.

http://docs.google.com/templates?type=spreadsheets&sort=hottest&view=public

Then once you start trading, you have a few free options:

Quickpay is an easy to use and free up to 5 employees Payroll Solution. It autoupdates with any budget changes as and when they occur.

Tas Books has a free version too which can help you with basic accounting.

Obviously alot depends on the size of your business, the type of business, and its complexity, but you should certainly be able to do the majority of your book-keeping yourself and it will certainly keep the cost down of having an accountant do your tax return if you can hand him everything in soft and hard copy, arranged in an orderly fashion.

Anyone with a head for numbers could easily do their own payroll, VAT returns, P35 etc and prepare accounts to Trial Balance for review by an accountant and submission to the Tax Man.

Sand Wedge

Ermo2010 wrote: »

I'm in South co Dublin. Accountant 23 yrs experience . Returning to the marketplace after caring for a parent and completing ACCA.
Depending on what role i get offered in the next month or so i might be looking for something for 5/10 hours a week.
Not sure yet....:pac:

Just a heads up Ermo2010, I wouldn't tell people that you have completed the ACCA exams if you haven't. ACCA takes a strict view on this. Good Luck with the Admin Review!

Ermo2010

Hi,
Yes - you are correct - reading my post is misleading. Not meant to be!!
OK I'm waiting for admin.review on my last paper ACCA - and yes hopefully it works out for me!!!
Regards to all,
Ermo:)

Peppa

Before you set up a company please get professional advice. Why not trade as a sole trader?

Is a company really necessary as it costs much more to run them (and to get rid of them). Also are you prepared for all the monthly filing of P30's etc and the various other paperwork to ensure compliance.

If you really want/need a company please watch out for the 6 month rule to return the first B1 as if you are late you lose your audit exemption status which then in turn means you have to file 'audited accounts' as opposed to 'unaudited accounts'.

zappb

Peppa wrote: »

Before you set up a company please get professional advice. Why not trade as a sole trader?

Is a company really necessary as it costs much more to run them (and to get rid of them). Also are you prepared for all the monthly filing of P30's etc and the various other paperwork to ensure compliance.

If you really want/need a company please watch out for the 6 month rule to return the first B1 as if you are late you lose your audit exemption status which then in turn means you have to file 'audited accounts' as opposed to 'unaudited accounts'.

You don't lose audit exemption if you file the first return late. (this is the only exception - every late return after that means losing audit exemption), but great point Peppa, people often forget that one.

You do have to pay 100 euro late filing penalty + 3 euros per day however.

Peppa

Thanks for correcting me on that zappb

GreenlightM

I agree with one of the other posts you really need to get advice before you set anything up as it may be alot handier to go as a sole trader rather then a LTD company... but an accountant is best place to advise. Talk with Joe in http://www.lynwood-resources.com/ they are set up to help small business and are excellent... he'll get off you off on the right foot

Best of luck