SB - End of year accounts discrepancy

jack*tigger · 16 November 2009 at 11:12PM

Hi Guys,

I just wanted to pick your brains before I make a fool of myself and go ballistic at our accountant.

I do the bookkeeping for a small training business and we pay an accountant to prepare the end of year accounts.

They have just sent through copies of our 08/09 accounts and I have noticed that the figures they report for 07/08 don't match the ones in the actual accounts for 07/08.
When I looked at it a bit closer the figures do add up - sort of. It looks like they have recategorise outgoings and income. So things like cost of sales and admin costs have different values but the operation profit is the same.
What worries me the most is that the starting figure for turnover is different (by just over £2k). Surely this should be the same regardless of how they have categorised everything else?

Can anyone shed any light on this ??
I have emailed the accountant but haven't heard back yet. I wanted a bit more information about what might be going on before I talk to him on the phone.

Cheers.

orangeslimes · 17 November 2009 at 12:11AM

Don't go ballistic before asking your accountant to explain (in a reasoned manner)

It is hard to guess without more information but when I do accounts for businesses I usually recategorise at least some expenses and make adjustments.
It could be debtors and creditors? Or opening balances from the previous accounts or many things.
If you give some examples of what is different/what sort of business you run I could suggest an explanation.

Edited to add: Actually unless you are very very good at your books and unusual it would be a sign your accountant WASN'T doing his job if nothing in your accounts changed.

DCodd · 17 November 2009 at 5:50PM

Are you sure you were looking at the final accounts for 07/08 and not draft versions? It could be a case of adjustments for work in progress or Prepayments etc i.e. fees recieved for training courses that actualy took place in the next financial year.

What did the accountant say?

jack*tigger · 19 November 2009 at 11:17AM

Thanks for your help.

Accountant hasn't gotten back to me yet ! Typical of him.
The reason I'm concerned is that all previous years HAVE been the same. Just the last one showing any differences.

Oh well will have to bit the bullet and phone the fella!

SB - End of year accounts discrepancy

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