Bookkeeping & Sage 50 Accounts Training Course
15th February 2023
Places remaining: 4
Cost: €380.00 (Plus booking fee)
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Course Name: Sage 50 accounts
Start Date: 15th February 2023 (x 12 weeks)
Duration: 12 x one hour sessions
Tuition Fee: €380 per person (12 sessions) or €250 per person (6 sessions)
Accreditation: Certificate of Attendance
Understanding VAT – Part 1
· How does the VAT process work?
· Review of the VAT cycle in Business
· Review of the VAT rates in Ireland
· How to check the VAT rate of a good or service
· Difference between Zero and Exempt rates
· What is a VAT Period?
· When do you file and pay VAT
Getting to grips with the VAT impact of Brexit
· Review of the key terms
· What is an EORI number?
· What are Commodity Codes?
· Review of VAT obligations when importing/exporting .
· Review EU Distance Selling (B2C)
· Vat rules when importing/exporting with the UK
What is Vat postponed accounting?
· Review the rules when trading with Northern Ireland
Overview of Employee Expenses
· What is meant by the term ‘Normal Place of Work’?
· What are ‘Round Sum Allowances’?
· What expenses records should be kept?
· What are the approved Civil Service rates?
· Review eWorking and Home Workers expense options
· Review ‘Country Money’ and ‘Eating on site allowance’ in the construction sector
· What is a ‘Travelling Appointments’ employee?
· Review removal and relocation expenses
· Review non-taxable employee benefits
Understanding the Profit and Loss account and Balance Sheet
· Understanding of the profit & loss and balance sheet structure
· Different types of margins in the profit & loss account
· Difference between a fixed and current asset
· Understand the different types of debts
· Understand how to calculate the net value of a business
Overview of Benefit in Kind (BIK)
· Overview of Benefit in Kind (BIK)
· Understand the BIK valuation rules
· Practical BIK calculations
· Review the different types of BIKs that arise
· Review the rules around reliefs and exemptions
Understanding VAT – Part 2
· How do you validate a Vat number?
· Information is required on a valid Vat invoice?
· When must a credit note be issued?
· What is the Two-Thirds Vat Rule?
· What is the Return of Trading Details (RTD)?
· Vat Information Exchange System (VIES)?
· What is Intrastat?
· What are the common Vat pitfalls?
· What are the Vat registration thresholds?
· Difference between Invoice and Cash basis
Sage 50 Accounts (Sales Invoice and customer receipt processing)
· Creating quotations/invoices/sales orders/credit notes
· Setting-up customers & customer default settings
· Setting-up products and services
· Using customer delivery addresses
· Running customer statements
· Posting customer receipts
· Running customer reports
Sage 50 Accounts (Purchase Invoice and supplier payment Processing)
· Setting-up suppliers and reviewing supplier default settings
· Posting purchase invoices and credit notes
· Using purchase orders
· Posting supplier payments
· Running supplier reports
Understanding Pay As You Earn (PAYE)
· Review of the tax system in Ireland
· Review of wage calculation from gross to net
· What is the Standard Rate Cut-Off Point?
· What are Tax Credits?
· Basis of calculating PAYE
· Practical PAYE manual payroll calculations
Understanding Relevant Contract Tax (RCT)
· What is Relevant Contract Tax (RCT)
· What withholding tax rates apply?
· What activities are covered under RCT?
· Who is a principal contractor?
· Review the impact on Vat
· RCT non-compliance consequences
The basics of Accounting – Debits and Credits
· Sage 50 nominal ledger structure explained
· Principles of debits and credits
· Examples of using debit and credit accounting
Understanding PRSI and USC
· What is PRSI?
· Review of the main PRSI classes
· Practical PRSI calculations
· What is USC?
· Review of the different USC bands
· Practical USC calculations
Comments / Special Requirements
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