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Annual Accounts incorrect 2 years in a row

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    Annual Accounts incorrect 2 years in a row

    Like most forumites I employ the services of one of the big contractor accountancy firms that frequent these boards. I accept, like PI that I need to shell out a %age each month to enable me to ask silly questions, get payroll and reminders to pay VAT etc and obviously to have the annual accounts done.

    But recently I've had a bum steer over Child Vouchers which isn't back-dateable and then both years I've had to correct the annual accounts for things being missed or incorrectly categorised.

    Now I'm no expert and I understand these guys have a lot of clients to maximise profit but my monthly accounts have about 6 standard line items, then once a quarter there maybe something unusal, such as charity giving and a computer hardware purchase but nothing spectacular and blindingly obvious.

    There's only 12 months in the year, so at most 20 of these non-standard payments so is it too much to ask for over £1k per year to expect what I'd imagine is an hour job to be correct?

    Look at spreadsheet tab (this may give away the accountants) then look at bank statement - does it tally? Add values to running total, repeat 12 times.

    Take values for previous accounting year and file in columns.

    Ideally I'd like to give them a quick skim, looks fine - accept and file.

    Yes I know I'm responsible for the accounts and that is why I pay for a qualified accountant to do this work - but 2 years in a row?

    I should be asking for service credits!

    Is this just par for the course?
    Am I unrealistic in expecting a simple 1-man-band-ltd accounts to be straightforward and to be delivered correct first time?

    Yours slightly hacked off and beginning to wonder about a change!
    Anti-bedwetting advice

    #2
    Originally posted by Notascooby View Post
    Like most forumites I employ the services of one of the big contractor accountancy firms that frequent these boards. I accept, like PI that I need to shell out a %age each month to enable me to ask silly questions, get payroll and reminders to pay VAT etc and obviously to have the annual accounts done.

    But recently I've had a bum steer over Child Vouchers which isn't back-dateable and then both years I've had to correct the annual accounts for things being missed or incorrectly categorised.

    Now I'm no expert and I understand these guys have a lot of clients to maximise profit but my monthly accounts have about 6 standard line items, then once a quarter there maybe something unusal, such as charity giving and a computer hardware purchase but nothing spectacular and blindingly obvious.

    There's only 12 months in the year, so at most 20 of these non-standard payments so is it too much to ask for over £1k per year to expect what I'd imagine is an hour job to be correct?

    Look at spreadsheet tab (this may give away the accountants) then look at bank statement - does it tally? Add values to running total, repeat 12 times.

    Take values for previous accounting year and file in columns.

    Ideally I'd like to give them a quick skim, looks fine - accept and file.

    Yes I know I'm responsible for the accounts and that is why I pay for a qualified accountant to do this work - but 2 years in a row?

    I should be asking for service credits!

    Is this just par for the course?
    Am I unrealistic in expecting a simple 1-man-band-ltd accounts to be straightforward and to be delivered correct first time?

    Yours slightly hacked off and beginning to wonder about a change!
    I had to correct 5 years of annual accounts from my ex-Accountant. I stayed with him and kept on giving him more chances. Finally he was consistently missing the dates he had promised the accounts by and giving excuses and then, when they finally arrived, the accounts were wrong again. After that year I moved to a new accountant and now my accounts have been right for two years on the trot. I stayed with the first accountant too long. I think you should consider changing accountant - you can probably get another person from your current Accountant to deal with it, or look elsewhere.

    Comment


      #3
      Originally posted by Hex View Post
      I had to correct 5 years of annual accounts from my ex-Accountant. I stayed with him and kept on giving him more chances. Finally he was consistently missing the dates he had promised the accounts by and giving excuses and then, when they finally arrived, the accounts were wrong again. After that year I moved to a new accountant and now my accounts have been right for two years on the trot. I stayed with the first accountant too long. I think you should consider changing accountant - you can probably get another person from your current Accountant to deal with it, or look elsewhere.
      I think I'm onto my 3rd accountant from that firm already!
      Anti-bedwetting advice

      Comment


        #4
        We can all tell who this is - but thank you for not naming them straight away.


        Can I ask you a question, have you taken this up with them yourself?

        Comment


          #5
          Originally posted by Notascooby View Post
          Is this just par for the course?
          Am I unrealistic in expecting a simple 1-man-band-ltd accounts to be straightforward and to be delivered correct first time?

          Yours slightly hacked off and beginning to wonder about a change!
          Use an accountant who doesn't use spreadsheets! It seems that accountants who use spreadsheets expect their clients to do all the work and take no responsibility for what their clients input.
          "The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance." Cicero

          Comment


            #6
            Look at spreadsheet tab (this may give away the accountants) then look at bank statement - does it tally? Add values to running total, repeat 12 times.
            LOL it sure does...

            Do you think this is down to your accountant getting it wrong rather then the company as a whole? I had so much trouble swapping accountants last time I would be tempted to ask for a new contact rather than ditching the whole setup but sometimes you can get so disillusioned only a move will fix it. Have they given any explaination for getting it wrong that might appease?
            'CUK forum personality of 2011 - Winner - Yes really!!!!

            Comment


              #7
              Originally posted by Higgs Boson View Post
              We can all tell who this is - but thank you for not naming them straight away.


              Can I ask you a question, have you taken this up with them yourself?
              I've responded last night to say the accounts were inaccurate but I will be writing an email to accompany it when I've done a more thorough check. Obviously I'm a lot closer to the accounts so glaring ommisions jumped out in the very quick scan I gave the totals but when I checked the spreadsheet I was far from cryptic in the description.

              Obviously this is 80% rant and 20% question to see if others have the same experiences when using accountancy factories.
              Anti-bedwetting advice

              Comment


                #8
                Originally posted by Notascooby View Post
                I've responded last night to say the accounts were inaccurate but I will be writing an email to accompany it when I've done a more thorough check. Obviously I'm a lot closer to the accounts so glaring ommisions jumped out in the very quick scan I gave the totals but when I checked the spreadsheet I was far from cryptic in the description.

                Obviously this is 80% rant and 20% question to see if others have the same experiences when using accountancy factories.
                My first experience was with a two man local band and not being contractor focussed messed up royally to the point they wouldn't even speak to me because of the time it would take for them to fix it. I joined the same company you are with and it has been plain sailing. Odd little hiccup when I checked but after the first carry on I am of the thinking none of them will be perfect, particularly with the high churn you mentioned, and whatever they do has to be better than a local brand. Saying that I haven't had your experience so not at that 'hacked off' stage. I would be willing to give some leeway but easy to say that before it happens.

                I would personally judge it on it's merits so would be make a decision based on their response first. If they treat me badly and don't come up with an honest explaination then yes I would have an issue. If it appears to be down to individual error then would consider asking for someone else?
                'CUK forum personality of 2011 - Winner - Yes really!!!!

                Comment


                  #9
                  Originally posted by Notascooby View Post
                  I've responded last night to say the accounts were inaccurate but I will be writing an email to accompany it when I've done a more thorough check. Obviously I'm a lot closer to the accounts so glaring ommisions jumped out in the very quick scan I gave the totals but when I checked the spreadsheet I was far from cryptic in the description.

                  Obviously this is 80% rant and 20% question to see if others have the same experiences when using accountancy factories.
                  I think if you are the largest firm of contractor specialist accountants, you are likely to receive the most complaints. Just because you have more clients than anyone else. I bet Tesco/Sainsbury get more complaints than a family greengrocer. I dont know how many Accountants they have working for them - but I will bet some are better than others.

                  Comment


                    #10
                    Hi,

                    Sorry about your experience with the accounts preparation.

                    Regarding the accounts preparation, the procedures are not as straightforward as you mentioned, but I agree completely, there is no excuse for mistakes if procedures have not been followed.

                    I have dropped you a PM to get some details on who your accountant was (is) at SJD.

                    Please let me know, then I will be able to put this forward.

                    Comment

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