Once you have completed Final Trial Balance, you will have learn how to complete payments for contractual employee’s under SAGE Construction Industrial Scheme (CIS).
You will then cover Tax Level 1, where you would learn about how personal taxation works.
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
The training is carefully structured to give candidates the practical skills to enable them prepare accounts from source documents to the VAT return, in the exactly same manner as it is required.from our staff in our accountancy practice. This is a very unique platform for candidates, as it links directly into placements and ultimately jobs. We pride ourselves on giving opportunities to those who have the determination and attitude to succeed at accountancy. We promise to inspire you and develop you on every step on the way, with regular feedback sessions and supporting services. Candidates have the opportunity to master a Computerised bookkeeping and payroll package of their choice from Sage, Sage Payroll, QuickBooks, IRIS, TAS or VT.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
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
Additional ContentUnderstanding what is Construction Industry Scheme
How to register for CIS scheme Familiarization of the CIS rules and legislation
Different types of CIS Sage CIS activation wizard
Completing Company preferences Setting up default Nominal codes for CIS Setting up Subcontractors records Setting up CIS tabs
Verify Subcontractors with different methods manually and with the use of Sage 50 CIS.
Record work that has been completed by your subcontractors, including any materials used and tax deductions that apply.
Entering Subcontractor Invoices/ credit notes
Processing Subcontractor payments and deductions
Generate your CIS monthly return
Submitting your CIS monthly returns to HMRC
Generate a monthly statement of tax deductions to give to your subcontractors.
Generate your Subcontractor analysis report on monthly and Subcontractor basis
Control who can view, create and change your subcontractor records with access Rights and passwords.
Ensure you comply with CIS rules and minimize the possibility of incurring penalties from HM Revenue & Customs (HMRC).
Store your records ready for an audit by HMRC.
Sage CIS Contractor Returns
Generating CIS Statements Update on CIS Rules
Types of CIS
Understand the history of the tax year Tax return submission and dates Recognise non-taxable income Compute tax liability
Understand income tax rates and apply allowances Identify the correct heading under
which main sources of income are taxed. Grossing up of savings income and dividends
Set out the structured table for computing income tax Calculate tax relief for charitable donations
Compute taxable income
Employment vs self-employment, case law
National Insurance Contribution (NIC) computations – Primary Class 1 and 2, and class 1A
PAYE codes and forms explained
Benefits in kind principles (vouchers, cars, living accommodation, beneficial loans from employer) Tax-free employment benefits
Allowable expenses for tax purposes: Trading income taxation Adjustments of trading profits Capital expenditure versus other expenditure National Insurance Contribution Class 2 and 4 Basis of assessment for trading income Opening year rules for trading income Calculation of overlap profits and ways to relieve it Trading losses optimum use
Summing Techniques
IF, Cell References, Formula Linking,etc
New Formulas of Excel 2007 Sumifs, Countifs, Iferror Database Formulas
Subtotal (Formulae & Procedure) Tables
Macros
Look up References (Vlookup, Hlookup,etc) Data Validation
Conditional Formatting Date & Time Formulas Charts & Graphs Protection & Security Goal Seek
Groupings Pivot Table
Pivot Table Charts Hyperlinks Scenario
Hlook ups Vlookups
Web workbooks Sharing Workbooks
| Level | Course | Products | |
|---|---|---|---|
| 1 | Fundamental | Bookkeeping | Peach Tree |
| 2 | Fundamental | Bookkeeping | VT Books |
| 3 | Fundamental | Bookkeeping | IRIS BK |
| 4 | Fundamental | Bookkeeping | MYOB |
| 5 | Fundamental | Bookkeeping | OCR Level 1 |
| 6 | Fundamental | Payroll | IRIS Payroll |
| 7 | Fundamental | Bookkeeping | TAS Books |
| 8 | Fundamental | Payroll | Excel Payroll |
| 9 | Fundamental | Payroll | Quick Books Payroll |
| 10 | Fundamental | Payroll | TAS Books Payroll |
| Level | Courses | Products | |
|---|---|---|---|
| 11 | Intermediate | Adv. Bookkeeping Cert. | OCR Level 2 |
| 12 | Intermediate | ERP Bookkeeping | TALLY |
| 13 | Intermediate | Tax | International Trade, UK & Foreign VAT |
| Level | Courses | Products | |
|---|---|---|---|
| 14 | Advanced | ERP Bookkeeping | SAP End User |
| 15 | Advanced | Accounts | VT Accounts |
GUARANTEED WORK PLACEMENT either in our accountancy practice or with our clients.
In-house recruitment facilities
Certification on completion provided by KBM Certified Chartered Accountants and Registered Auditors
Reference provided by KBM Certified Chartered Accountants and Registered Auditors
Counts towards your experience necessary for ACCA, AAT, FIA, CIMA, CIPFA or any other accountancy organisation's memberships
FREE complete preparation for the OCR qualification*
One to One CV Consultations and Mock Interview Sessions
Pre-interview screening tests, increasingly used by employers to select candidates
Interview Preparation
Job Hunting tips
Free Sage or QuickBooks software (Worth over £900)
Each training session has a few candidates delivered in a friendly and relaxing environment, which gives candidates the opportunity to ask questions and raise issues freely. You can be assured that you will receive one to one individual attention from our team.Those who have no prior experience or qualification in accountancy
Candidates currently studying ACCA, AAT, FIA, CIMA, CIPFA or other accountancy and payroll qualifications but have no practical accountancy and payroll experience
Candidates with overseas accounting and payroll experience but not within the UK
Candidates new to Computerised accounting and payroll
Candidates new to accounting and payroll, looking forward to maintaining their own accounts and payroll records to reduce their costs