- Foreign Currency reconciliations, Dollar, euro and Sterling reconciliations exchange
- Submission of EC Sales, Intrastat returns, thresholds and reporting requirement from HMRC. Implication of making £35k + EC sales on returns.
- CIS Schemes, with complex contractor and subcontractor structure.
- Accruals, adjustments, identification, calculation and impact on the double entry bookkeeping via Advanced excel templates and on computerised accounting software.
- Prepayments, adjustments, identification, calculation and impact on the double entry bookkeeping via Advanced excel templates and on computerised accounting software.
- Trail Balance, extended trial balance with management accounts and commentary on variances with management report pack.
- Balance Sheet reconciliations, including IAS 16 implications on fixed Asset registers, calculation of Depreciation journals and concept of double entry for Depreciation journals.
- Month ends on excel to thoroughly understand the concept of reversals and other important journals. Carrying on month ends on Sage, Xero, QuickBooks and VT.
- Loan Interest Schedules with effect on cash flow forecast.
- Dealing with issues of company cash flow and working capital issues.
What is the role of an Accounts Assistant?
An Accounts Assistant's job is varied and exciting, and it may lead to tremendous career advancement possibilities if desired. Processing invoices and payments, creating and keeping financial records, VAT reports, and other daily activities are all part of the job. It may be freelancing, but it is more likely to be an office-based position with conventional working hours.
Qualifications and Requirements for Accounts Assistants
Although an accounting, business, or finance degree is not required to work as an accounts assistant, it is advantageous when looking for work. Accounts assistants might get on-the-job training or participate in an apprenticeship programme. Accounts assistants can also pursue specialised training in AAT or Level 5 and Level 6 Business Administration, bookkeeping, and finance through a professional organisation.
