Virtue CPAs Logistics Dispute Management’s Post

The Certification Limit for Collections and Payments Has Been Increased Click for detailed information: https://lnkd.in/dzR7RW7H You can contact us for your queries on the subject: https://lnkd.in/dZhGFcw #taxlaw #taxprocedurelaw #certify #accounting #consultancy #CottGroup

ICYMI: Guidance on the 'Reporting on Payment Practices and Performance Regulations' has been updated to include the new reporting requirements on value of invoices paid and disputed invoices, which come into force from 1 January 2025.    As it stands, large businesses will need to report on:    ▪️ The value of invoices paid within 30 days, between 31 and 60 days, and over 60 days, as well as outside of the agreed terms. According to the guidance, this data should be expressed as ‘sums’, rather than percentages as is the case for number of invoices paid    ▪️ Disputed invoices which should be calculated by taking the number of invoices paid outside of the agreed terms, and working out what percentage of these were due to a dispute   New metrics on retentions are due to come into force from 1 April 2025, and the guidance to the regulations should be updated to reflect this in due course.    Find the guidance here:

There has been so much talk about the BOI! Here's the latest, as of this week: https://lnkd.in/g_K7y_8g #bookkeeping #smallbusiness #taxes #business #boi #ownership #businessowner #beneficialownership

Directors of a Dutch company that have not yet prepared and/or adopted the annual accounts of the financial year 2023, please pay attention! It is time to act, as the deadlines for preparing, adopting and filing the annual accounts are rapidly approaching. Ruud W.A. Brunninkhuis, lawyer at BUREN, and Yusuf Bagci, candidate civil-law notary at BUREN, have written the following article to help you mitigate liability risks, negative consequences or sanctions: https://lnkd.in/gpqh_uVa #BUREN #legal #tax #notary #annualaccounts #financialyear2023 

Accounting is the art of stating the value of assets and liabilities correctly at a given time. . . . . . #accountancy #sgbooks #acc #accounts #cbse #financeaccounting #accounting #sandeepgargbooks #latestbooks #latestedition #11class #2class

⚠️ We're conducting spot-checks with a sample of several hundred firms this month to check that you have obtained a recent accountant’s report. Remember, any firm that has an active client account has an obligation under Rule 12 (unless exempt) to: - obtain an accountant's report for that accounting period within six months of the end of the period - deliver it to us within six months of the end of the accounting period if the accountant's report is qualified to show a failure to comply with these rules, such that money belonging to clients or third parties is, or has been, or is likely to be placed, at risk.

#Reconciliation is one of the important tasks during the Audit procedure or finalization before submitting any report to the respective authority. Before starting reconciliation we must follow these steps to get the reco done properly. 1. Identify the requirements. 2. Know about the prior submitted reports and their data. 3. Check out the available resources. 4. Find out the variances among them. 5. Give remarks of variances. 6. Make a working or data base to fill the input from the submitted reports. 7. Make available the final sheet as per the final report which needs to be finalized. 8. verify the reco once again as per applicable rules and laws. Remember: Try to cover every reco to the point with proper comments. #Audit #Accounts #Taxation #GST

Good news, business owners: The BOI filing deadline has been extended for companies formed before January 1, 2024! Your new deadline is January 13, 2025. Many business owners have been confused and concerned by the new BOI reporting requirements that took effect this year. This filing is very simple, but the fines for late filing are steep at $591 per day! Don't wait—file your BOI report now, and reach out to our team if you have any questions. Learn more about your requirements in our blog: https://lnkd.in/eyf8BT7s

⚠️ We're conducting spot-checks with a sample of several hundred firms this month to check that you have obtained a recent accountant’s report. Remember, any firm that has an active client account has an obligation under Rule 12 (unless exempt) to: - obtain an accountant's report for that accounting period within six months of the end of the period - deliver it to us within six months of the end of the accounting period if the accountant's report is qualified to show a failure to comply with these rules, such that money belonging to clients or third parties is, or has been, or is likely to be placed, at risk.

⚠️ We're conducting spot-checks with a sample of several hundred firms this month to check that you have obtained a recent accountant’s report. Remember, any firm that has an active client account has an obligation under Rule 12 (unless exempt) to: - obtain an accountant's report for that accounting period within six months of the end of the period - deliver it to us within six months of the end of the accounting period if the accountant's report is qualified to show a failure to comply with these rules, such that money belonging to clients or third parties is, or has been, or is likely to be placed, at risk.