IT/Web Designing: Company offers professional web design services.
Job Scope: Bookkeeping, Accounts Payable/ Accounts Receivable, Reconciliation- Bank, A/P, A/R, Credit Card.
Providing professional web design services including design,development, search engine optimization as well as logo design and brand identity, business cards, leaflet, brochures & flyer design.
QuickBooks UK Software, Copies of the bank statements.
Clients wanted us to compile the data on the excel spreadsheet & then enter into the Sage Software. Job was to prepare the profit and Loss account for the year ending 2010.
We were working for the two different periods –
A.1.4.2009 to 16.11.2010 as a sole proprietorship and then
B. From 16.11.2010 to 31.3.2010 after the company was incorporated.
All the Bank statements and credit card statements were converted in the excel format and then entered in QuickBooks. Script lance and Money booker’s statement we received in USD, which were converted to GBP at an average conversion rate specified by the client.
Our main challenge was to account for the bank charges in the excel format for the amount transferred from one account to other. Another task was to keep a track of currency conversions in excel sheets. So we decided to maintain this in QB 2010 UK version. Client using sage and he agreed that maintaining it in QB would be easier. We started doing entries and tracking the invoices in QB 2010.Completed all the entries in QB related to bank, PayPal, script lance, moneybookers.Exchange profit and loss recorded to arrive at the correct profit figures.
After completing all the entries, the PL and BS were sent to client. Now we are working on the year ending March 2011.