3 Reasons Why Start Up Founders Should Outsource their Bookkeeping
Work Experience EMR 2
1. Work Experience at EMR
BetweenNovemberandJulyIhave beenworkingone daya weekinthe accountsoffice at
EMR gaininganinsightintohowthingsrunin an accountsoffice.Icompletedarange of tasks which
helpedme toexpandmyknowledge onwhat needstobe done tohelpthe financesrunsmoothlyin
a business.
Tasks I have completedandwhatIhave learnt:
Filing
o How to file awayinvoicesunderthe correctsupplier.TodothisI had to be able to
understandthe invoice andfilethe documentunder the correctdate and business.
Inputtingtimesheets
o How to use the accountancysoftware Dimensions.Ihadto make sure that I checked
whatI had enteredwasthe correct amountof time undereachprojectand that
each weekaddedup.Ialsohad to calculate the correctdecimal fromthe time given
for the software acceptthe correct data.
o I alsohad to create monthlytimesheetsforclaims.Thisinvolvedconvertingthe time
intoa decimal andthenaddingup the time undereachheading. Forwhetherit
couldbe claimed,partlyclaimedorwasunfunded.
Puttingtogetherclaims
o For thisI had to pull outthe correct timesheetsforthe monthlyclaimsandthen
create the monthlytimesheets.FromthesetimesheetsIhadto calculate the salary
for eachpersongiventhe amountof time spentona projectusingfiguresIwas
given.
o I had to pull outinvoicesandbankstatementtoprove defrayal.Thisinvolved
lookingupthe datespaidand thenwhichstatementsitwouldbe postedon.
o ThenI had to pull all the piecestogether onone final documentwhere all the total
amountswere posted.
InputtingInvoices
o I was taughthowto put the invoicesintoDimensions.ThismeantthatIneededto
lookup the VATpaidand the cost.
CAPEXForms
o I was balancingupthe columnswithwhatwason the spreadsheetandthenwhat
was onDimensions.Thisinvolvedlookingupwhatwasmissingandaddingitin or
makingsure that the expenditure wentunderthe correctheading.Iwasalsolooking
to see if the cost had beenbudgetedfor.
o I alsocreated a newspreadsheetforthe nextfinancialyearwhichwouldmake it
easiertobalance up.
Travel Expensive
o I createda spreadsheetforall the travel expensive.Thisenabledustolookupwhich
projectsthe expenseshadbeenchargedtooandalsoif the expensescouldbe
claimedback.
o I had to extractdata fromexpense claimformsandfromDimensionswherethe
expenseshadalreadybeenprocessed.WhenextractingdataIalsohad to lookto
see if there hadalreadybeenanentryundersomebodyelse andwhether Ineeded
to create a newclaimorjust addthemon to a pre-existingclaim.
2. Creatingnewcodes
o I createda spreadsheetwhereIcouldmake sure that the codesusedforsuppliers
was the same across the fourcompanies.Thisinvolvedmakingsure thatthe same
code was not usedtwice andthat the code was easyto use.Alongwithcreatingnew
codesI couldcheckthat the informationheldaboutasuppliermatchedup.
Whilstworkinginthe accountsoffice Ifeel thatI have gainedagreaterunderstandingof timesheets
and invoices.Ihave alsoimproveduponmyITskillswithbeingable touse Dimensionsandcreate
and use complex spreadsheet.
Zoe Hardie David Beazleigh
Research Accountant