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Thread: Book keeping where there are no records

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    Book keeping where there are no records

    I recently got a job to do book keeping for a company which has been in operation for about two years? There were no records kept, only a few receipts here and there. What i got are bank statements. Will somebody help me please on how I can go about this. I have to do accounts for last year. There is no system so am using excel.

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    Platinum Member Mike C's Avatar
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    You will have to work from bank statements as best you can. You won't be able to claim VAT on anything that hasn't got a receipt, and you will probably have to take a guess at some things. It is not going to be easy.

    Good luck!
    An education isn't how much you have committed to memory, or even how much you know. It's being able to differentiate between what you do know and what you don't. - Anatole France

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    Platinum Member Neville Bailey's Avatar
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    Feel free to contact me if you want to set up a proper accounting software system - Excel will not cut it in the medium to long term.
    Neville Bailey - Pastel Accounting Consultant and Photographer
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    Setup and do processing on incomplete records formation

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    Thank you for the above advice. I have finished capturing on excel for last year ending 28 Feb 2013. but they dnt hav bank statements for mar, apr and may last year, how do I deal with this?

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    Bronze Member Elijah's Avatar
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    You can request them from the Bank, but it's going to cost. I dont see any other full-proof way. The bank statements are your most reliable source of info, if the accounting records have not been maintained as they should have been. Find out if all source documents were properly filed away [for payments and receipts], but you still going to need your bank statements to do a bank recon.

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    Thanks Elijah, i will push the bosses to get the statements for me.

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