Learn the basics of bookkeeping and gain other financial skills you need to keep your business afloat.
It's vital to your business to manage your finances correctly.
Our course will help you to gain the required level of financial knowledge, understand what your accountant will need and avoid financial pitfalls.
Our 1-day course will concentrate on keeping financial records and how to record VAT so you are prepared when it's time to complete the necessary forms. You'll also have time to look at filing, Making Tax Digital (MTD) and what your accountant will need at year-end. The course will help you to know, how to keep yourself up to date on legislation, and to understand the differences between tax accounting and management accounts.
At the end of the course, you'll get a certificate of training.
- HMRC* and accounting requirements
- Overview of Making Tax Digital (MTD)
- How VAT works
- Designing a bookkeeping system to facilitate management accounting
- Streamlining processes in financial administration of the business
* HMRC = Her Majesty's Revenue and Customs or HM Revenue & Customs is the UK's tax, payments and customs authority
Our course is for you if you want to improve your skills and knowledge in finance and VAT and be more effective at work, especially if you are involved in a rural or other small business, such as sole traders and partnerships.
By the end of this course, you'll be able to:
understand the basics of HMRC and accounting requirements
describe the basics of Making Tax Digital (MTD)
identify how to find appropriate support for individual requirements based on the latest developments
define procedures required by HMRC in reporting VAT
understand different VAT rates
identify tax allowable business expenditure
recognise VAT invoices
describe the basics of bookkeeping and accounting methods
examine the features of an accounts spreadsheet
record transactions for VAT returns
allocate transactions to relevant headings to produce management accounts
review financial administration processes and identify areas for improvement of a business
extract information from management accounts
develop a bookkeeping system relevant to the business
create an accounts spreadsheet
- Managing Your Cash Flow
- Financial Management 2- Understanding Your Accounts and Financial Statements
- Marketing Your Business