Book-Keeping Job

Tayto86

Hi all

I am just looking for some advice.

I have just finished my last year at college and I now have a Degree in Accountancy and I am going to be starting Masters in Sept.

A family friend who has just opened a little pub has asked me if I would like to do their book-keeping.

I have a good knowledge of Accountancy however I don't fully know what such a role would involve?

Is the work load heavy for such a post or would I be able to continue with this post come Sept when I start Masters?


Thank you for your help.

George Huxley 1983

In at the deep end is often the best way you learn. The quality of information given to you, the standard of accounting system in place and the level of training/assistance you receive will all play a part in the level of difficulty you experience. I say go for it. One thing is for sure. You'll know more leaving than you did starting

Tayto86

Thanks for your reply George.

As the bar has just been taken over by my neighbor, I would safely say there is no current system in place or training available.

I am meeting him tonight to have a chat with him.

As its a small bar I don't think it will be too bad.
There will be wages to be done up weekly & Vat returns to file I assume, PAYE/PRSI to file - this is an area I am very unsure about however I think there are only 4 employees, other than that I don't quite know what will need to be done.

Has anyone on here done books for a bar like this before?

Jamesw2

Hi there. I vaguely remember doing accounts for a small bar. The big issue with doing accounts for this is recording sales.
Ask him how he keeps track of sales i.e is there a cash register.
There should be till receipts then every day ( starting with opening float and then closing till receipt for every day. Receipts will indicate what is drink and whats food).
Check what his past gross margin is and what is the norm for this type of bar.
As this is a cash business he will invariably take cash out of the till to pay staff/suppliers drawings. Where does he record this information. Make sure its not in his head! also make sure bank reconciliation is done.
Good luck with it.

lakill Farm

have a client who has a bar that does food also with VAT and PAYE also.

You will need to advice on a computerised system and also a payroll system.

Drop me an PM with details and i can help you out.

Regards

Tayto86

Thanks for all your replies guys.

The cash register will print off a reading at the end of each day - I'm thinking of recording this info on an Excel Spreadsheet and also recording all the purchase invoices - as its only a small pub I cant see there being too many.

The register report will split the drink totals & food totals so it I will be able to distinguish what vat rates apply.

The PAYE/PRSI I need to think a little more about as I haven't done this before.

Jamesw2

There are some nice small payroll packages available. You shouldnt pay more than 150e for one.
Be careful with your vat. If you get a revenue audit they will specifically look at that that and paye/usc. Make sure your rates are correct and returns and payments are prompt.
Make sure all cash extractions from till are recorded.

lakill Farm

try collsoft. Great to deal with

dbran

Hi

The stock should also be counted regularly either by the owner or professional stocktakers.

Revenue will select a pub for audit if the margin achieved is less then to be expected for a pub in the area. So at the very least you should keep an eye on the overall margin as you complete each VAT return to see if there is any unexplained changes in it.

dbran