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Accountant able to transfer funds from my business account

  • 26-07-2010 9:35pm
    #1
    ikoonman
    Registered Users, Registered Users 2 Posts: 250 ✭✭


    My accountant mentioned in the passing the other day that they are able to transfer funds from my business account to Revenue using ROS without any assistance from me. They merely require my "permission".

    The more I think about this the more worried I get. If it is try what my accountants are saying, can they transfer funds from a clients business account to Revenue only or can they transfer funds to any other bank account?

    Either way, is there a way that I can physically prevent them from doing this by talking to my bank?

    Sorry in advance if this is the wrong forum. Thanks for any advice.


Comments

  • #2
    tommy21
    Closed Accounts Posts: 2,419 ✭✭✭tommy21


    ikoonman wrote: »
    My accountant mentioned in the passing the other day that they are able to transfer funds from my business account to Revenue using ROS without any assistance from me. They merely require my "permission".

    The more I think about this the more worried I get. If it is try what my accountants are saying, can they transfer funds from a clients business account to Revenue only or can they transfer funds to any other bank account?

    Either way, is there a way that I can physically prevent them from doing this by talking to my bank?

    Sorry in advance if this is the wrong forum. Thanks for any advice.

    Fire your accountant.


  • #3
    BizAngel
    Registered Users, Registered Users 2 Posts: 48 ✭BizAngel


    The ROS transfer acts like a Direct Debit i.e. your accountant is giving ROS the instruction to take the funds from your bank accountant. If you are not comfortable with this then you should advise your accountant to stop using this method of paying your Revenue liabilities. In which case you will probably revert to cheque payments. I don't see the need to contact your bank on this.

    Your accountant does not have the ability to transfer funds to any other bank accountant unless (1) they have access to your accounts via banking online or (2) they are an authorised cheque signatory.

    Paying via ROS is very popular but your accountant should advise you before making the payment.


  • #4
    Bigcheeze
    Closed Accounts Posts: 2,858 ✭✭✭Bigcheeze


    BizAngel wrote: »
    Paying via ROS is very popular but your accountant should advise you before making the payment.

    The accountant told the OP said that he requires his permission first.

    The ROS payment by the tax agent is perfectly normal, OP. Nothing to worry about.

    Years ago, some people would have given accountants blank cheques to settle tax bills. Obviously that's a no-no.


  • #5
    The Big Red Button
    Closed Accounts Posts: 8,390 ✭✭✭The Big Red Button


    tommy21 wrote: »
    Fire your accountant.

    Care to elaborate on your "reasoning" for this? :rolleyes:


  • #6
    tommy21
    Closed Accounts Posts: 2,419 ✭✭✭tommy21


    chatterpillar wrote: »
    Care to elaborate on your "reasoning" for this? :rolleyes:


    :rolleyes:


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  • #7
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    OP answered by Biz Angel

    If you're not happy with your tax agent having this ability let him know, they will be only too happy to pass this facility back to you.

    Closing thread.


This discussion has been closed.
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