Bookkeeping & Sage 50 Accounts Training Course

Bookkeeping & Sage 50 Accounts Training Course

15th February 2023
11:00 am

Location:
Online

Places remaining: 4
Cost: €380.00 (Plus booking fee)

Terms & Conditions - Click Here

 

Course Name:                                   Sage 50 accounts

Start Date:                                          15th February 2023 (x 12 weeks)

Duration:                                             12 x one hour sessions

Venue:                                                 Online

Tuition Fee:                                        €380 per person (12 sessions) or €250 per person (6 sessions)

Accreditation:                                   Certificate of Attendance

Course Content

 

 

1 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

2 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

 

3 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
4 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
5 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
6 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
7 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
7 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
9 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
10 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
11 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
12 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

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