Can anyone do books???

[sjwild]

Hi there<BR><BR>I have been told that to do the books for a company including P&L and balance sheet etc, then you don't have to be qualified/experienced at all. As long as you know what you're doing. As long as the company is not Limited or a PLC , so basically a sole trader or partnership.<BR><BR>I have just passed technician and am thinking of going down this road, but seems a bit odd that you can sign books off when not got some sort of qualification etc.<BR><BR>Just wondered if anyone could shed any light on this?<BR><BR><BR>Thanks<BR>Sharon<BR>

[NeilH]

Hi<BR><BR>In theory anyone can put together the accounts for a business (even a PLC!) but who can sign them differs depending on what the accounts are to be used for. <BR><BR>Banks, buiding societies, lenders, customs, inland revenue all have their own requirements for who is qualified to sign off accounts. MAATs can do in these circumstances, though they may only be able to up to a maximum turnover (depending on bank, lender etc)<BR><BR>As for year end accounts for Companies House, again anyone can but the directors of the company concerned must approve and sign off the accounts - in these circumstances they are responsible for the acuracy of the accounts and as such can decide who preapares them. The accountant/s for the companie wont sign the accounts in this instance (unless they are of course directors) but the auditors may sign an audit report, but only if the company has had/needs an audit.<BR><BR>Neil

[sjwild]

Hi Neil<BR><BR>Thankyou for your response.<BR>Just another quick query please. My partner is a self-employed plumber (sole trader). I do his books every year to trial balance and then we send them to the accountant's for finalizing.<BR><BR>Would I be able to do the whole process now without sending them to the accountant's (even if I don't become a licensed member with the AAT)?<BR><BR>Thanks<BR>Sharon<BR><BR><BR>

[claudialowe]

You could do them on his behalf for free - if you charge money then you need to be licenced with AAT - but if your turnover is less than £5k pa then very few rules and regulations. However i do remember reading something on the ethics bit of the website about acting for family members and impartiality.<BR><BR>In effect though your partner could do his own accounts and tax with you "helping" him and save a fortune. The bank might squeal a bit if he wants to borrow some money or get a mortgage.<BR><BR>This has probably muddied everything a bit more - sorry - i was only trying to help!<BR><BR>Claudia<BR>

[NeilH]

Hi Sharon<BR><BR>I think in general you would probably be ok to do your husbands books, except for signing off things for the bank. Although there probably wouldnt be anything actually wrong with that, the bank probably would except you signing since you aren't really independent of the organisation.<BR><BR>Neil

[Roy]

Hi sharon<BR><BR>As well as being qualified AAt, I have also run my own business as a dental technician and for the last six years have comlpeted my own accounts which where accepable to to bank for mortgage purposes and the inland revenue.<BR>

[sjwild]

Just a quick note to say thankyou to all who replied to my question.<BR><BR>Best regards<BR>Sharon<BR>