| Open Book Accounting: | | 1. An objective is to build partnerships between business associates and open book accounting can assist with that objective. | | 2. Every Bespoke Application Service (BAS) may be identified by a domain name such as "BAS-Company.co.uk". The Bespoke Application Service has an Owner and Data Controller, with the Application Service Provider (ASP) as the Data Processor. | | 3. Every domain needs legal trading protection, security certification protection and accounts that are shared with the Owner. A normal trading company such as "BAS-Company Ltd" is formed to protect the domain name and to create a set of accounts that can be shared with the Owner. | | 4. The integration of Bespoke Application Service, domain name, security certificate and legal company name create a strong identity for the benefit of the Owner and ASP. |
| How it works: | | 1. The business requirement is for the Owner to pay just enough to keep their Bespoke Application Service viable, but not pay too much that excessive profits go to the ASP. | | 2. An objective is to build a win-win partnership where both the Owner and ASP have a viable and sustainable business model. | | 3. Open Book Accounting is just one aspect of operating a win-win partnership for the long term. | | 4. The financial accounts of "BAS-Company Ltd" are shared and both partners may be shareholders and Directors. | | 5. The actual costs to operate the Bespoke Application Service are identified each month and the Owners subscription fees are adjusted to keep the service financially viable. | | 6. Where the Owner chooses to increase the transactions flowing though their Bespoke Application Service then additional network, storage, processing and infrastructure costs will be paid. | | 7. Where the Owner chooses to decrease the transactions flowing though their Bespoke Application Service then reduced network, storage, processing and infrastructure costs will need to be paid. | | 8. Where the trading company has a positive balance at the end of the year, that balance is shared between the Owner and the ASP or used to reduce the next years subscription fees. |
| BAS: | | 1. A Bespoke Application Service is a monthly service that the Owner may terminate at any time without any liabilities. | | 2. All technical and financial liabilities lie with the Application Service Provider who ensures that no single BAS exceeds one-percent of the infrastructure capacity. | | 3. Annual and seasonal variations in capacity exist amd these are resolved by consolidating a very large number of diverse customers into a massive computing infrastructure. | | 4. Each Business Application Service (BAS) includes: | | (1). Owner and Data Controller of the BAS. | | (2). ASP contracted by the Owner as the Data Processor of the BAS. | | (3). Continual Improvements specified by the Owner and rapidly deployed by the ASP. | | (4). Data Protection Certificate managed by ASP for and on behalf of the Owner. | | (5). Data Protection Officer appointed by the ASP and legally responsible for the BAS to the Information Commissioners Office (ICO) and Owner. | | (6). Domain Name managed by ASP for and on behalf of the Owner. | | (7). Security Certificates managed by ASP for and on behalf of the Owner. | | (8). Encryption Certificates managed by ASP for and on behalf of the Owner. | | (9). Company Name managed by ASP to protect trading by the Domain name. |
| How: | | 1. Using Companies House, identify a potential company name to match an available domain name. Rent the company name for twelve pounds for one year. Record the company registration number and company authentication code (by post from companies house). | | 2. Using 123-Reg or others, identify a potential domain name to match an available company name. Rent the domain name for six pounds for one year. Rent a security certificate and encryption certificates for one year. | | 3. Using HMRC, register the company for VAT - regardless of revenue thresholds. This is a business-to-business trading company with VAT on costs and VAT on revenue from its one customer. Schedule an automated VAT return for every January, April, July and October. Make one-time allowance for any part quarter return. Schedule an automated annual return for every April. Make one-time allowance for any part year return. | | 4. Using ICO, register the company for Data Protection as thirty-five pounds per year. | | 5. Have first General Meeting to agree articles and memorandum. Sign agreement to have no exployees other than the secretary as required by law. Enter all setup and operating financial costs and liabilities into the BAS fiscal service. Inform HMRC that the company has no employees, no payroll and a zero monthly corporation tax return. Agree and publish the (mandatory) company Community policy and Environmental Impact policy. | | 6. Agree the monthly subscription fee to be invoiced by BAS to the Owner each month. Setup supplier payment plans for infrastructure and operating costs to be paid by BAS. | | 7. Advice: BAS exists for the exclusive benefit of its owner and it has no other purpose. When the owner no longer needs the BAS, then this business service will fade away without any liabilities on any party. The long term financial stability of BAS is totally the responsibility of the Owner who can walk away at any time. No staff, no software, no equipment, no products, no assets and no liabilities are permitted to exist for any Bespoke Application Service. |
| BAS Ledger Inventory: | | The BAS ledger is an encrypted inventory that shares the following information with approved people. | | 1. Domain name, leasing company, user-name, email address, password, next renewal date. Infrastructure transactions. | | 2. Company name, company number, authentication code, email address, password, next return date, next account date. Revenue and purchase transactions. | | 3. VAT number, login code, email address, password, next return date. VAT transactions. | | 4. HMRC UTR number, Tax reference, login code, email address, pass-word, next return date. Annual Return transactions. | | 5. Root folder, Database name, database user-name, database pass-word, FTP user-name, FTP pass-word. Storage transactions. | | 5. IP address, data center name, data center user-name, data center pass-word. Network and processing transactions. |
| FAM Automated: | | 1. Preparation of annual self-assessment tax SA100 returns. | | 2. Preparation of annual company accounts CT600 returns. | | 3. Preparation of quarterly VAT accrual returns. | | 4. Preparation of monthly payroll and pension returns. | | 5. Preparation of monthly corporation tax (CT) returns. | | 6. Preparation of monthly construction information scheme (CIS) returns. | | 7. Preparation of monthly expenses for any number of approved people. | | 8. Preparation of holiday, leave and sickness days and payments. | | 9. Preparation of customer sales invoices and income. | | 10. Preparation of supplier regular and ad-hoc payments. | | 11. 24*7 online service with unlimited support for same day dedicated account manager. | | *. Worth: 85 pounds per month net of taxes. |
| Service Agreement: | | 1. Full compliance of all data protection laws include a written service agreement for each person involved. The key factor is that each involved person agree to conform with the data protection laws regarding diligence and confidentiality. | | 2. The employee in this context is a kind of director and shall act as a director regardless of their job title or shareholding. The employee shall act in compliance with "Directors Duties" as published by Department for Business, Energy and Industrial Strategy. | | 3. The employee shall promote the success of the company in consideration of: | | (1). The consequences of decisions made including long term. | | (2). The interest of all company employees. | | (3). The need to foster company business relationships with other parties. | | (4). The impact of the company operations on the community and environment. | | (5). The company reputation for high standards of business conduct. | | (6). The need to act fairly as between members fo the company. | | 4. The employee shall exercise reasonable care, skill and diligence, and shall perform their role to a high standard. The employee shall perform to the best of their ability and accept responsibilities and expectation associated with their role. The more qualified and experienance an employee is, the greater the standard required. The employee has earned the right to make a mistake, the right to be wrong and the right to improve what has been done with the benefit of hindsight. | | 5. The employee shall NOT accept benefits from any third party other than their company. employees shall not be bribed, shall not accept a bribe and shall not bribe others. The employee may accept reasonable corporate hospitality as a way to do business, but what is reasonable will evolve so what is reasonable one year may not be reasonable another year. The employee shall disclose any conflict of interest involving themselves and/or any member of their family - once disclosed, business continues as normal. The employee shall disclose if any proposed transaction involves a family member - once disclosed then things can proceed as normal. Disclosure and conflicts of interest between family businesses are perfectly acceptable ways to do business. | | 6. The employee shall exercise independent judgement, but may accept advice not orders. The employee shall NOT allow the power of another party to control their decisions and actions - nobody can be ordered to do somethign wrong. The employee shall only do things that are lawful, strictly within the law and reasonable. The employee shall be responsible for everything they do and everything they do not do. The employee shall NOT misapply company property - data is the primary asset of the company. The employee shall apply a duty of confidentiality - PRIVACY is paramount. The employee shall reference other people by their job title, rather than their name as an act of privacy and entitlement. | | 7. The employee shall NOT discriminate or create a situation where they could discriminate against another person - discrimination is not legal. The employee shall NOT get involved in the health or wellbeing of another person unless they are medically trained and insured to do so. | | The employee shall NOT touch any other person for any reason. | | The employee shall NOT help another person out of a car or up the stairs as an act of chivalry. | | The employee shall NOT open a door for another person as an act of compassion. The employee shall NOT be asked and shall NOT disclose their gender, religion, sexuality, race, ethnicity, age, health, infection, colour, culture or any other factor that could be used to discriminate. The employee shall dress appropriatly and shall NOT get discus a persons clothing or lack of clothing. The employee shall NOT use spoken or written language that may offend others - offensive communication is not legal. The employee shall NOT use language that may be thought of by others as cursing or swearing. | | 8. The employee shall NOT disclose any company information. The employee shall NOT get involved in any survey or social media that involves the company or its business or its assets or its business associates. The employee shall NOT disclose the names of customers, suppliers, vendors or business associates. The employee shall NOT leak private, confidential, priviledged or sensitive business information by telephone, email or social media. The employee shall NOT disclose their company name or employment on Linkedin or any social media. The employee understands and acknowledges that any information leaked to the Internet cannot be undone - once its published will always available to others. |
| Document Control. | | 1. Document Title: Open Book Accounting. | | 4. Description: Open Book Accounting. | | 3. Keywords: Open Book Accounting. | | 6. Privacy: Shared with approved people for the benefit of humanity. | | 7. Edition: 1.1. | | 8. Issued: 2 Jan 2018. |
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