Assistant Accountant Training in UK

Overview

Assistant Accountant is an important position in any Accounts Department whether In-house Accounts Department or Accounting Practise. Assistant Accountant plays an important role as liaison between Bookkeeper and Accountant.

The role of the Assistant Accountant can include Bookkeeping but predominantly involves advance issues such as Control Account Adjustments and Year End Journals entries, issues pertaining to Trail Balance, Advanced Reconciliations and Management Reporting based on the requirements of Financial Standards such as IFRS and FRS 102, FRS 105.

Candidates who are planning to upgrade their skills from Bookkeeping and looking to move higher up the hierarchy to a Semi Senior Position or Assistant Accountant Position, this program is ideal for them.

This program is delivered by Qualified Chartered Accountant that have years of experience in the industry. The approach we take to train our students is Role Play/ Hands on Practical Training. The Role Play means that the student would assume the role of (Semi Senior Accountant, Accounts Assistant) and actually perform the role using the Accounting Software. The Role play ensures that the student is Job Ready after completing the training program.

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WHO IS IT FOR

Anyone who is

Have some practical experience in basic accounting
Have qualification but lack practical skills
Or experience from abroad but lack UK based skills and experience

Why CAC Training

Practical Accountancy Training & Work Experience
Office based Personalise training sessions with industry professionals
Recognised certification
Flexible timing, you can make your own time table. Open 6 Days a Week
Professional Experience and reference from reputed organisation
Recruitment services i.e. CV, interviews and complete job hunting support
Software support and installation
ACCA/AAT PER support

CONTENT

Bookkeeping, VAT Returns

Software: Sage 50 Accounts, Xero, QuickBooks, Excel

Understanding overall purpose of bookkeeping
Learning basic bookkeeping concepts such as debits, credits etc.
Purpose of bookkeeping and what are the best practices in the work place as a bookkeeper
Understand and maintaining purchase/sales ledger
Setting up company on accounting software (Sage 50 Accounts, Xero, QuickBooks etc.)
Update and choose the accounting period for the organisation as per UK Regulations.
Setting up chart of accounts based on the organisational needs
Understanding nominal code and nominal /general ledger
Customising the nominal /general ledger
Setting up Customer account in the accounting systems
Generate and process customer invoices and credit notes
Setting up Supplier account in the accounting systems
Generate and process supplier invoices and credit notes
Preparing reports for supplier / customer invoices
Preparing aged debtors and aged creditors reports
Understanding Construction Industry Scheme (CIS) deduction and calculations
Domestic Reverse Charge in the Construction Industry
Dealing with cash payments and receipts
Dealing with Bank payments & Bank Receipts
Performing Bank & Petty Cash Reconciliations
Dealing with VAT Reverse Charges and VAT implications
Understanding general VAT Principles
Introduction to Making Tax Digital (MTD)
Compliance with different VAT Schemes such as Standard VAT Scheme, Cash VAT Scheme, Flat Rate Scheme, Marginal VAT Scheme, Retail Industry Scheme.
Preparation, Reconciliation and HMRC Filing of VAT Return
Administration and Record Keeping regarding VAT return
European Community VAT Implications
Foreign VAT Implications regarding Imports and exports

Payroll

Software: BrightPay

Understanding Cyclical Payroll Run Procedure. (Monthly, Weekly)
Setting up Salary Sacrifice Schemes
Setting up Holiday year in the software.
Setting up Pensions and Automatic Enrolment
Setting up new starters and compliance with new starter checklist
Understanding different Tax codes
Ascertaining monthly gross pay, assuring the correct apportionment into PAYE, National Insurance and Pension elements as per HMRC regulations.
Processing different types of payments e.g. (Commissions, Bonuses)
Processing different types of Payment Streams (Monthly, Weekly, Hourly)
Timesheet Record Keeping.
Calculating and understating Statutory Sick Pay (SSP), Statutory Maternity Pay (SMP), Statutory Adoption Pay (SAP), Statutory Paternity Pay (SPP).
Processing of various types of deductions such as Payroll giving, Student Loans, Child Care Vouchers etc.
Processing leaving employees and ensuring all leaver procedures are adhered to.
Filing / Submission Compliance RTI Documentation (Payslips FPS, EPS, P32 etc.)
Compliance with “Year End Procedures”. (Declarations and submissions)

Control Accounts & Year End Adjustments

Understanding the Control Accounts Adjustments
Preparation of Year End Journals from source documents
Posting Yearly Journal Entries.
Fixed Assets, Depreciation, Accruals, Prepayments Adjustments.
Reconciliation of Debtors & Creditors Control Accounts with the Subsidiary Ledgers (Sales Ledger and Purchases Ledgers)
Cost of Sales and Stock Adjustments and Reconciliation
Reconciling Balance Sheet Adjustments such as Wages Control Account, PAYE Control Account, VAT Control Accounts, Director Loans Account, Cash and General Loans etc.
Reconciliation and Clearing of the Suspense Accounts
Preparation of Bad Debt provision
Dividends Provision
Maintaining Fixed Asset Register
Documenting Changes to the Fixed Asset Register e.g. Disposals, Additions and Depreciations and Accumulated Depreciation.
Data mapping and exporting procedures
Preparation of Initial Trial Balance
Preparation of Financial Statements from the Final Trial Balance.
Running the year end procedures in Sage 50 Accounts to close the ﬁnancial year and start a new financial year
CIS Schemes preparing necessary documentation, verification of subcontractors, subcontractor statements, CIS Returns and submission to HMRC, Managing Sub-Contractors Liabilities.