Reply to: Reasonable turnaround time for year end accounts?

[northernladuk]

Whoop, finally had them late last week. Had to send a snotty e-mail - e-mail wasn't acknowledged, but got the drafts through shortly after.

Hope you've gone through them with a fine toothed comb!!

[vwdan]

Whoop, finally had them late last week. Had to send a snotty e-mail - e-mail wasn't acknowledged, but got the drafts through shortly after.

[pr1]

Fair point. I've largely been emptying the account of available dividends (after pension contribution) each quarter (my personal circumstances are such that I don't need top retain a warchest of any note in the company) so I've not had that much dosh sloshing around in the company account. I haven't made the effort to find a business savings account as a result, but I guess I have just presumed that I won't get much more than 05. to 1% on amounts under £50k - is that a reasonable assumption?

you can get somewhere in between 0.5% and 1%, which is more than HMRCs 0.5%

[Lambert Simnel]

you need to look into business savings accounts

Fair point. I've largely been emptying the account of available dividends (after pension contribution) each quarter (my personal circumstances are such that I don't need top retain a warchest of any note in the company) so I've not had that much dosh sloshing around in the company account. I haven't made the effort to find a business savings account as a result, but I guess I have just presumed that I won't get much more than 05. to 1% on amounts under £50k - is that a reasonable assumption?

[malvolio]

Have they not send you the final accounts to sign before submission? You should have received the accounts at least via email before submission, not many accountants will send hard copies as all is done electronically.

I agreed the draft accounts via email (and had them cross-checked by the new guys) and had some corrections made (such as a CT refund and reminding them Mrs Volio is not a director of MyCo...) so the final numbers were confirmed prior to submission. It's just that for the last umpteen years I've had a nice folder with the full accounts in the post and this year nothing, not even a soft copy.

However I doubt I'll need details beyond that files at CoHo, and after three changes of accountant in as many months, the local-ish office being closed, a suggested salary that took no notice of MyCo's current setup and projected earnings and having to keep reminding them to do stuff, I had rather lost interest in their services, hence the move away. Shame really, they used to be really good, now they are just another corporate generalised service provider.

[Chart Accountancy]

Have they not send you the final accounts to sign before submission? You should have received the accounts at least via email before submission, not many accountants will send hard copies as all is done electronically.

[malvolio]

Hmmm... They had all my numbers in early January. final accounts were filed at CoHo in early April and I still don't have the hard copies.

Any wonder I use a different accountant now?

[Chart Accountancy]

Still haven't got them. If there was ever a moment where I thought I'd go back to SJD that's well and truly done now. 14 weeks since I sent the docs.

Hopefully you now have received your accounts, do they not provide a reason for the delay or at least keep you updated. 14 weeks is a long period. When I worked in the past for a much larger firm, I had to prepare consolidated accounts for a group audited company within 3 weeks to meet auditors deadlines so a stand alone set of accounts can be done much quicker. If not, it may be workload that they are struggling.

[Michael at BI Accountancy]

SJD do have a four week guarantee, once all info is received they will have draft accounts over to you, if not you are entitled to a refund on your month's fee.

[northernladyuk]

I know you were joking. But how many people drift through and would take you at your word? The majority of people, I suspect.

Don't fret. Everyone clocks he's a know-nothing bozo.

[pr1]

Just for balance, I'd note that I'm very happy with the turnaround I received from SJD. Just over 4 weeks from submission of the relevant files to them to having an agreed & signed-off set of accounts - and two weeks of that was me questioning various things which weren't (with one exception) actually changed. CT submitted to Phil Hammond esq. 8 months early, to receive a super-generous 0.5% interest from my friends at the Revenue (I'd not be getting any interest on it sitting in my company account).

you need to look into business savings accounts

[Lambert Simnel]

From what I remember SJD would only do them in the period they do everyone's. A friend of mine wanted it doing early for a mortgage and they made him pay extra for the pleasure. Doesn't surprise me this.

Just for balance, I'd note that I'm very happy with the turnaround I received from SJD. Just over 4 weeks from submission of the relevant files to them to having an agreed & signed-off set of accounts - and two weeks of that was me questioning various things which weren't (with one exception) actually changed. CT submitted to Phil Hammond esq. 8 months early, to receive a super-generous 0.5% interest from my friends at the Revenue (I'd not be getting any interest on it sitting in my company account).

[northernladuk]

You're not the only one

Oi!! Leave it sonny!

[DaveB]

Blimey. Wish I hadn't said anything now :|

You're not the only one

[northernladuk]

Still haven't got them. If there was ever a moment where I thought I'd go back to SJD that's well and truly done now. 14 weeks since I sent the docs.

From what I remember SJD would only do them in the period they do everyone's. A friend of mine wanted it doing early for a mortgage and they made him pay extra for the pleasure. Doesn't surprise me this.