Steps to work in a company that does not have any regular books?

This question always reaches me, which is how to start working in a company that does not have any books? ، Sometimes you find the owner of the company or facility spending a lot of expenses, most of which may not be of paramount importance, but most of them do not provide an accountant who manages his financial operations and monitors his accounts, then after years he finds that our money has been lost from him, what should he do? You find him looking for an accountant to organize his books and financial matters, then he is alive and cannot facilitate work for him by providing papers and invoices so that he can start his knowledge well, so I will try hard in this article to write some steps That will help you in accomplishing the work in such circumstances on the blessing of God we trust.

1. Determining the method of work and agreeing with the employer or partners on the mechanism of accounting work and determining its features (manually or computerically through an accounting system).
2. Determine the capital at the beginning of the period and determine the assets and liabilities of the company and record them.
3. Collecting information about the company and its work system by reviewing the company’s rules, policies and regulations, as well as collecting information by sitting with employees to know the work .
4. Preparing all the company’s documents (commercial register – investment certificate, if any, memorandum of association in case it is a company, Any other documents according to the type of activity ).
5. A full statement of the names of the employees, their wages and files, And all salaries disbursed from the date of the start of the activity .
6. Inventory and consolidation of all previous disbursement and revenue operations
7. Bring bank statements, make matches and settlements, then create total entries
8. Inventory of assets, book registration, matching them with documents, if any, or approving them from the owner or his representative.
9. Based on the inventory of the previous assets, depreciation is made for each period separately, starting from the date of purchase .
10. Inventory of obligations and their authentication with the relevant authorities and inventory and authentication of the balances of customers and debtors
11. Making matches for debit and credit accounts, including bank accounts as well, and preparing the necessary adjustments
12. It is necessary to make an accounting program for the aforementioned institution, whether manually or automatically, according to what is required for the stage, and consider that each year’s budget is an opening budget from the beginning of the activity to the end of the year
13. Inventory and inventory of sales invoices and receipts and disbursement vouchers
14. Issuing and printing the documentary cycle of invoices, bonds and clearances
15. Making an opening budget since its date and approving it from the owner and entering the opening balances of the system that has been chosen in line with the nature of the institution’s work

Source: Arab Accountant Magazine