Client Account money

Accounting
1

I run a payroll service for a number of clients. I calculate payroll and advise them what to pay their employees and HMRC. One client is a social club that requires 3 signatures on all cheques. They cannot use online banking. They have asked if they can send me a cheque for the money due to HMRC so I can bank the cheque then make the payment when the cheque has cleared.

How do I acount for this as it is not turnover as such?

2

Are you authroised to handle client money from your regulatory body? If yes open another bank account and call Client account, any cheques you get Debit your main bank credit Cleint a/c, once you pay the money it will be reverse entry

3

Will it still show as turnover, though - that was my main worry?

4

NO it wont, no entry is touching revenue accounts

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