The Mystery Shopping thread - part 6

paulherts

I have had the same with two sandwich jobs, the ones where you cannot set a date until you have spoken with RE. They came out after the office closed and the office has not been open since so it was impossible for me to set a date, they have now been released from my account and 4 points deducted.

I have e-mailed them and it does look snotty but it is frustrating and wastes all of our time.

Cheers Paul

Timmne

Becles wrote: »

There are two methods of accounting - accrual and cash.

Suppose you did a simple £5 enquiry job today to be paid in March. If you used accrual accounting, you'd enter the £5 income today, even though you haven't actually got it, along with your expenses.

If you use a cash accounting system, you would enter the expenses for today, and not enter the £5 fee until you are actually paid it in March.

Both methods are suitable for MS work and the tax man won't mind which method you use, as long as everything gets accounted for. At the end of the day, if you're earning under about £15K, the tax man only needs to know the end figures and not loads of details, so it's not worth the effort getting bogged down in doing a fabulously detailed set of accounts.

Are you sure Becles? VAT has the cash and accruals system and givevyour tunover's within the limits, they're happy for you to use either. In accounting, the accruals basis is a principle and as far as I'm aware, the only option.

Am I wrong? Haven't done many accounts for very small businesses so I may be!

tizzy79

I think that's GAP money in (early again!) today!

Becles

Timmne wrote: »

Are you sure Becles? VAT has the cash and accruals system and givevyour tunover's within the limits, they're happy for you to use either. In accounting, the accruals basis is a principle and as far as I'm aware, the only option.

Am I wrong? Haven't done many accounts for very small businesses so I may be!

It's what my uni tutor told me. She said cash is fine for accounts like MS where it's just small amounts of cash going in and out and you're not doing things like buying assets and selling stock etc.

I might be wrong too!

We didn't do VAT but I'm doing another accounting module starting in May so I can check again. Haven't got the notes for it yet.

Timmne

Becles wrote: »

It's what my uni tutor told me. She said cash is fine for accounts like MS where it's just small amounts of cash going in and out and you're not doing things like buying assets and selling stock etc.

I might be wrong too!

We didn't do VAT but I'm doing another accounting module starting in May so I can check again. Haven't got the notes for it yet.

Becles 1, Timmne 0 - just read something on business link (was interested as my accounting business could do with accounting for things on the cash basis as people tend to owe me money!) and it mentions the cash basis for accounting - woohoo!

As you were.... :T

nads

Don't worry Timmne, you're still our solid rock of accountancy

BTW, RE down for anyone else?!

nads

Taken from a recent RE assignment notes:

"If you are not approached go back and loiter by the stand and make casual eye contact with a staff member"

:rotfl: Have a feeling this might get me arrested :rotfl:

ukmonkey

nads wrote: »

Taken from a recent RE assignment notes:

"If you are not approached go back and loiter by the stand and make casual eye contact with a staff member"

:rotfl: Have a feeling this might get me arrested :rotfl:

hehe, NP per chance? I chuckled too.

nads

That's the one

Annapurna_2

nads wrote: »

Taken from a recent RE assignment notes:

"If you are not approached go back and loiter by the stand and make casual eye contact with a staff member"

:rotfl: Have a feeling this might get me arrested :rotfl:

Haha - that's almost as bad as when they get you to take a photo of a shop inside a shopping mall - i always think security are gonna pounce on me for that!