<![CDATA[SOCIAL ENTERPRISE ACCOUNTS CIC - Blog]]>Sun, 19 Sep 2021 23:19:54 +0100Weebly<![CDATA[JOB VACANCEY]]>Mon, 13 Sep 2021 11:01:34 GMThttp://socialenterpriseaccountscic.co.uk/blog/job-vacancey
Position is for a part-time accountant working from home. Must be either qualified or qualified by experience (minimum of four years work experience in practice required if qualified by experience) with a  good level of previous experience of working within practice. Must be capable of preparing accounts for company clients and preparing a corporation tax return ready for filing. Most queries will be dealt with by email with the client by the successful candidate.
You will be working from home for a small accountancy practice that specialises in CIC’s and other social enterprises. Most clients are CIC companies or other social enterprises but there is a range of other clients.
Experience of working with CIC clients advantageous but not essential. Experience working with companies essential.
Practice uses Capium online software to prepare the clients accounts and tax returns. This is cloud based and can be accessed from anywhere. Applicants will be expected to have their own PC and access to a home office in most cases although this is negotiable.
Hours to be flexible depending on work available but expected to average around 10 hours per week and maximum of 25 hours per week. Salary £30,000 pro rata (equivalent to £15.38 per hour). Would also consider self-employed applicants charging up to £18 per hour.

Applicants should email a CV and details of two professionals preferable one of which will be a previous employer in the accountancy business.
liz@socialenterpriseaccounts.co.uk]]>
<![CDATA[Directors Duties]]>Fri, 09 Jul 2021 16:46:30 GMThttp://socialenterpriseaccountscic.co.uk/blog/directors-dutiesA client in the process of forming a C.I.C. would need to appoint a director for their C.I.C.  They wanted to know what are the duties of a C.I.C. director?
A C.I.C. director would need to fulfil all the normal duties of any company director but with the added duty of making sure the company is fulfilling its mission statement.
In brief I would say that the duties of a director can be summarised as follows;
1.     Formulate & review strategy
2.     Ensure policy & practices keep to the organisation’s aims
3.     Ensure the organisation functions within its legal and financial requirements, and strives to achieve best practice, including keeping adequate records of all meetings and financial transactions as a director
4.     Promote the objectives of the organisation
5.     To act with skill, care, diligence and independent judgement
6.      To promote the success of the company
 
More detailed explainations and information of the roles and duties of a director can be found on the following sites,
Gov.uk Community interest companies guidance https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/605421/13-712-community-interest-companies-guidance-chapter-9-corporate-governance.pdf
Companies House blog the general legal duties of company directors
https://companieshouse.blog.gov.uk/2019/02/21/7-duties-of-a-company-director/
the 'Association of Chairs'  https://www.associationofchairs.org.uk
The institute of directors   https://www.iod.com/]]>
<![CDATA[What is a CIC?]]>Fri, 09 Jul 2021 16:43:58 GMThttp://socialenterpriseaccountscic.co.uk/blog/what-is-a-cic​A CIC is a company that is run not for profit and provides a service or helps the Community in some way. Profits and assets are kept within the company and used for the benefit of the community it serves. Shareholder dividends have to be capped.

A CIC has to file accounts and pay taxes just like any other company. In addition, each year it must file with Companies House a CIC34 form and explain how it has benefitted the community.

A CIC can be set up like any other company and registered with Companies House. There is an additional CIC36 form, required for incorporation of a CIC, which includes the community interest
statement. (An explanation of how it intends to
benefit the community.)
​The current cost to set-up is £35.

For further information you can follow the links below to the Gov.uk website .

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/641412/13-786-community-interest-companies-frequently-asked-questions.pdf

https://www.gov.uk/set-up-a-social-enterprise

https://www.gov.uk/government/publications/community-interest-companies-how-to-form-a-cic

https://www.gov.uk/government/publications/community-interest-companies-business-activities/cic-business-activities-forms-and-step-by-step-guidelines

https://www.gov.uk/government/organisations/office-of-the-regulator-of-community-interest-companies]]>
<![CDATA[HMRC Webinar about whether National Minimum Wage (NMW) applies to workers who are unpaid or reimbursed on an 'expenses only']]>Wed, 05 May 2021 11:23:12 GMThttp://socialenterpriseaccountscic.co.uk/blog/hmrc-webinar-about-whether-national-minimum-wage-nmw-applies-to-workers-who-are-unpaid-or-reimbursed-on-an-expenses-onlyMisunderstanding of whether the National Minimum Wage (NMW) applies to workers who are unpaid or reimbursed on an 'expenses only' basis is a common cause of underpayment. 
HMRC is offering a live webinar to help employers. We will cover internships, volunteers and work trials – looking at when the minimum wage should be paid.
The National Minimum Wage: Unpaid and expenses only work
Tuesday‌‌ ‌11‌‌ ‌May – 11.‌‌00am to midday
Register here]]>
<![CDATA[Bookkeeping Cloud Ware]]>Thu, 29 Apr 2021 13:26:49 GMThttp://socialenterpriseaccountscic.co.uk/blog/bookkeeping-cloud-ware​Bookkeeping cloud ware
 
We were recently asked to look into bookkeeping software for a client.
We checked on review sites first to get a few suggestions and a wider range of options. 
With most of them you need to work out what you want the product to do both now and in the future. Is it just bookkeeping or will you need VAT submission, Payroll? Most charge extra if you need payroll. Generally, the more users you need the more expensive and if you deal with foreign currencies. Also, it makes a difference as to whether you want that central control for more than one company and how much you want to pay.
 
The software below has either been tried by my PA or comes up in multiple review sites. As with most software the longer you try it out the more familiar you get with it and the more you learn to do. Different people find different interfaces work better for them so it is worth investing time in finding the one that you find easy to operate. The information below is just her opinion and not meant as a definitive guide to them as we only had 2 weeks to look at them and most have only been used for a short period. Prices shown are as correct at the time of inquiry and most do not include VAT. Unfortunately, most do not support our particular bank so we were unable to test bank feeds. Always worth checking your bank is supported. Another serious note to consider is how confident are you? 24/7 dedicated support can be worth its weight in gold.

PANDLE

If you have more than one company and just want separate accounts you can get them for free.
If you want them all on one login to switch between you need to get
each company on Pandle Pro which is £5/month/company.
If you just have the one company, I found this to be a good option.
I found it easy to use except our bank not supported and for uploading transactions it couldn't de-sypher our banks layout. However manually
added was easy but not good if high number of entries. Good support
and step by step tutorials and videos. I found them quick to respond to
queries.


Quickfile

Can only have one company per email address.
I have found it easy to use but other clients have struggled as all
support community based not Quickfile employed dedicated service.
Helpfulness varies.
Up to 1000 ledger enteries a year free there after £45 + VAT per year.
Bank feeds add on at £15/year
Comes with 1GB storage if more is needed,1GB storage add on £9.99/year/1GB
To get central access off one login is a variable charge depending on
company size and number of transactions.

Quickbooks

Easy to use. We have quite a few clients that have opted for this.
normally £12-£30 per month. We have used this for one client for a few years and any problems were fairly easily resolved.
Payroll is extra.
They have uk phone support so you can access help.

Crunch
 
If all you want is an online record of your transactions and reconciliation with your bank account Crunch is a very simple free option. If you want to generate reports or use the data for more then you can pay. The cost is £71.50/month. Support is accessible.
 
BOKIO

I found hard as our bank unsupported and it was not immediately
obvious how to upload but support was good.
Biggest problem was it made some decisions about depreciation that you
couldn't adjust. Couldn't find how to edit invoice numbers.
However in theory you can create multiple companies on one account for free.
If you want free for multiple companies it is a good option but check bank feed supported
with your bank. Good tool is the chance to set up a company as a
pretend company so you can play with the product to see if it suits
you. You can use a real company to do this.

Xero

Has a bookkeeping only option varying from £2 to £9/company/month
depending on how much you need it to do. Comments have been made that it is not the most intuitive platform. Support is available.
 
Sage

More expensive but they do offer a 50% discount for not-for-profit organisations.

Normal pricing £12 to £30 per company per month. Comments have been made that it is not the most intuitive platform. Support is available.
 
Capium
We have just taken out a Firm accountancy Cloud Ware with Capium, through which we hope we will be able to offer bookkeeping to clients. We shall keep you updated on how we find it.
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