Khpalwaak - VAT - Khpalwaak

Understanding the overall purpose of bookkeeping and best practices in the workplace
Learning basic bookkeeping concepts such as debits and credits
Setting up companies using various VAT schemes (Standard, Cash Accounting, Flat Rate, Marginal VAT)
Selecting and customising a chart of accounts to meet the organisations needs
Understanding nominal codes and the nominal ledger, and customising the nominal ledger
Setting up and maintaining customer and supplier accounts in accounting systems
Generating and processing customer and supplier invoices and credit notes
Preparing and reconciling reports for supplier and customer invoices
Preparing aged debtors and aged creditors reports for credit control
Dealing with cash and bank payments, receipts, reconciliations, and petty cash
Understanding and processing invoices with CIS deductions and reverse charge elements
Calculating VAT for businesses with mixed zero-rated and standard-rated sales using Sage and Excel
Understanding VAT principles and analysing different VAT schemes (cash rate, flat rate, standard)
Preparing, reconciling, and completing VAT returns
Performing import and export VAT analysis
Understanding and managing VAT registration, deregistration, periods, and tax points
Introducing and adhering to the Making Tax Digital (VAT) scheme
Handling queries from HMRC and dealing with VAT deadlines and penalties
Identifying and correcting errors in accounting records
Matching supplier payments and customer receipts to the correct invoices and maintaining accurate ledgers

VAT (Bookkeeping without Payroll)