I am a trainee and I ve just switched over to a new job where things are a little different to the way I am used to. Theres a lot more books and records jobs with sole traders than I am used to. Usually with the cashbook we would reconcile the bank and request any unusual invoices; usually related to capital items or miscellaneous sundry items/cheques. But at the new place they seem to want me to vouch every transaction to an invoice or receipt. I discussed it with the consultant at the practice and he seemed to imply that this wasn't the case and that it was a matter of judgement on myself. So I was curious as to where exactly this judgement falls. Should everything be vouched to an invoice in case its drawings, or should I focus on repairs and areas likely to contain capital items or drawings or should I just look for unusual, high value items, insurance for prepayments? I mean some cash books can be extremely messy, unhelpful and I find this extremely time consuming.
I am more trying to come to grips with the work ethic at the new practice. Its further complicated by the fact that the partner has a greater focus on producing the work quickly whereas the consultant who is a retired partner is a more old fashioned (hates the idea of me using Excel and insists I use hand written work). Personally I don't see why I would use the cashbook in the first place if I was vouching everything to invoice.
I am more trying to come to grips with the work ethic at the new practice. Its further complicated by the fact that the partner has a greater focus on producing the work quickly whereas the consultant who is a retired partner is a more old fashioned (hates the idea of me using Excel and insists I use hand written work). Personally I don't see why I would use the cashbook in the first place if I was vouching everything to invoice.