The above-named Article describes “an overview” of the purpose to which the “substantive contents” will be continually “populated” and “grown”, on a regular basis making its functionality extremely powerful.
By its nature it is “dynamic”, and it is recommended that a request be made for its update, where the last dated updated is greater than the last thirty working days.
This article describes the accounting system for non-VAT registered clients.
It identifies the areas of responsibilities for both Clients and Avar.
Invoices and Credit Notes
All Invoices and Credit Notes, both Sales and Purchases, should be scanned and saved in the cloud only when paid or received.
All unpaid invoices should be kept as hard copies.
At the year end, any unscanned documents will form the basis of the final end of year debtors and creditors. These should be listed on the Boomerang.
Bank and Credit Card
All statements should be downloaded in a csv format and transactions entered onto Boomerang.
Statements should also be saved in a pdf format and saved in the cloud.
All vouchers and receipts should be scanned and saved in the cloud.
Transactions should be entered onto Boomerang.
Mileage Claim and Use of Residence
If applicable, these should be entered onto the relevant sections within the Boomerang.
Completing the Boomerang
Once all transactions have been entered onto Boomerang, Avar will complete the transaction entries with the client via an online screen share meeting.
It is at this stage that any initial queries and missing information can be identified and cleared where necessary.
Clients are responsible primarily for the management of documents and transaction entries onto Boomerang.
Clients should adhere to the SSAPs and time limits.
Avar will be responsible for the following:
Draft Accounts Package (DAP) (for the agreed periods)
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