Sage Instant Accounts

[cojak]

I wasn't doing that Dazza and I apologise if you thought that was the case.

My point was that you shouldn't need the help of a forum to sort out something that your accountant ought to do for you as part of his service, that's all.

Still you're sorted now so that's ok, isn't it?

[dazza12]

Thanks for your help Cojak, but it would seem you aren't actually answering my query regarding Sage, instead using this as an opportunity to attack a single working practice I have with my accountant. I really don't know why you feel you have to point out they're an umbrella, it doesn't appear to be relevant to my original query.

They're an accountant - they only offer factoring to my company for this client. The client's late payment almost sent me under at some point, so my accountant stepped in and offered to finance my invoices. He doesn't factor any of my other clients, nor am I an employee of his so I really can't see the connection with an umbrella.

It would appear that there are members on this board that are more interested in attacking the working practices of others in order to make themselves feel more important.

For those who missed it, my original query was regarding Sage and how to account for Schedule E expenses. However, it's now been answered on another board, so anybody in a similar situation to myself, please feel free to get in touch and I'll let you know where to look for advice.

[cojak]

Ah, that makes sense now - they are an umbrella company.

So - do you want to keep using them Dazza? I guess the answer is 'yes' so the next question you have to ask yourself is how you want to use them. Do you still want that safety net of factoring?

You need a heart to heart chat with them explaining that you're happy with them but you want to work with them in a different way (this may mean a contract change).

But 1st the choice is yours - do you want them to be accountants or an umbrella?

[dazza12]

They only invoice that way because of a sticky situation I had with the client originally, they were very slow payers. The accountant offered to factor my invoices, so in effect acts as a factoring company as well.

[cojak]

Good Grief

I currently send my timesheet and mileage claims to my accountant, they then invoice the client, take their cut and 'self invoice' themselves on my behalf.

I'm not bloody well surprised that they're worried - they may be accountants but they've got the mindset of an umbrella.

My accountant showed me how to claim expenses (including milleage) and in fact gives me 3 face to face training sessions a year explaining everything that you've just asked about setting and using the software appropriate for my Ltd company and any new tax laws.

My accountant recommended Quickbooks, I do my own invoicing and bookkeeping and the software calculates payroll and VAT - they face off the IR&CE boys, keep me legal and keep me from paying more tax than I need to.

Your accountants should be telling you all this themselves otherwise they're not doing their job (or maybe your contract with them isn't what you think it is??)

[dazza12]

I've been using a management company for administering my company and contracts for the last couple of years.

I wish to continue using them, as they are an accountant that offers a service to contractors, as opposed to an umbrella that offers it on the side.

My business has recently expanded, and I've got a couple of other 'sub' businesses operating under the Ltd co, some web hosting and an e-commerce site. I'm at the promotion phase rather than the actual trading stage but I'm planning what to do when the business takes off.

I'm going to have to start issuing proper invoices, with a way to track them effectively, rather than using Excel as I do now. My accountant normally invoices my main client, and pays the proceeds to me, and works out my VAT/CT etc when the time is due.

I'm familiar with earlier versions of Sage, and I've recently purchased Instant Accounts. Before I actually start using it properly, I was wondering if anybody had experience of using this with a contracting company, or have a similar situation to myself. What I'm looking to find out is how to emulate some of the functions of my accountant. I'm looking to continue using them as before, but I'm intending to track that side of the business in Sage for accounting purposes whilst I use Sage fully for the other parts of my business. My accountant will advise, but understandably, they are a bit wary of giving me too much advice, as they obviously fear I'm going to go it alone - which I don't intend to do, not for a year at least anyway.

How the situation works at the moment is like this: I currently send my timesheet and mileage claims to my accountant, they then invoice the client, take their cut and 'self invoice' themselves on my behalf. I assume I'd issue that invoice in Sage, but not actually issue it to them physically. However, how do I account for things like Schedule E claims (ie mileage to the client)? Can't think of anything else at the moment, but I'm sure there's some other issues I'll need to sort out.

Many thanks in advance for any advice given.