End of first year accounts.....

[Sausage Surprise]

Thought I had drawn too much from my Co bank a/c as I keep a spreadsheet.... (Salary + monthly divis) - bank withdrawals. My accountant has drawn up my accounts and it turns out I haven't drawn enough

Looks like it's not as simple as my amateur workings and I'm buggered if I can understand the accountant's but hey...that's what they get paid for I suppose.

[Tingles]

Sorry.....

But it's your responsibilty as a director to have an understanding of the finances of your company....



T

[oracleslave]

Sorry.....

But it's your responsibilty as a director to have an understanding of the finances of your company....



T

Sorry....

Buth there's a difference between having an understanding and having the ability to work it all out down to the last £5.

[xoggoth]

Maybe a director is legally responsible but if I was paying an accountant good dosh to look after my affairs and he made a mistake that caused me to incurr penalties or major interest I would certainly expect him to pick up the bill.

[Sausage Surprise]

Sorry.....

But it's your responsibilty as a director to have an understanding of the finances of your company....



T

Don't get me wrong ...I've got a very good understanding of my VAT, PAYE and CT responsibilities, but as far as the EOY return is concerned that's not what I'm trained in. We are talking less than £100 here and I'm not going to spend 2 days trying to prove my accountant's calcs are incorrect.