Bookkeeping VAT & Payroll Training with Work Experience

Bookkeeping & VAT Returns:

• Understanding the overall purpose of bookkeeping and basic concepts such as debits and credits
• Maintaining purchase/sales ledger
• Setting up a company on accounting software (Sage 50, Xero, QuickBooks)
• Setting up chart of accounts, nominal codes and nominal ledger
• Setting up customer and supplier accounts; processing invoices and credit notes
• Preparing aged debtors and aged creditors reports
• Understanding CIS deductions and calculations
• Dealing with cash payments, receipts, bank reconciliations, and petty cash
• Dealing with Domestic Reverse Charge and its VAT implications
• Understanding VAT principles and different VAT schemes (cash rate, flat rate, standard)
• Preparing, reconciling, and submitting VAT returns to HMRC
• Import and export VAT analysis
• Introduction to Making Tax Digital (VAT) scheme

Payroll (Software: BrightPay):

• Understanding cyclical payroll run procedures (monthly, weekly)
• Setting up salary sacrifice schemes, holiday year, pensions, and automatic enrolment
• Setting up new starters and compliance with new starter checklist
• Understanding different tax codes
• Calculating gross pay and correct apportionment into PAYE, National Insurance, and Pension elements
• Processing commissions, bonuses, and different payment streams
• Timesheet record keeping
• Calculating Statutory Sick Pay (SSP), Statutory Maternity Pay (SMP), Statutory Adoption Pay (SAP), and Statutory Paternity Pay (SPP)
• Processing deductions such as payroll giving, student loans, and childcare vouchers
• Processing leavers and ensuring all leaver procedures are adhered to
• Filing/submission of RTI documentation (payslips, FPS, EPS, P32, etc.)
• Compliance with year-end procedures (declarations and submissions)