Last week I wrote about checking your unpaid bills, your creditors, to see if the bills outstanding are accurate or whether there are old unpaid bills which could be duplicates or could require credit notes. This week I am going to cover debtors - the customers who owe you. Whilst all business owners think they are on top of their unpaid invoices and know exactly who owes them and how much they are owed, often the accounts tell a different story. …
Creditors are the suppliers you owe money to but have you ever thought to check whether the report generated from your accounts software is accurate? When we take over bookkeeping work one of the things we check is the age of the supplier invoices awaiting payment. …
As a business we are not very good at sharing the feedback we get from our clients. In fact we don't share it at all unless you happen to be looking at our website because you need a bookkeeper or someone to take on your payroll. We have received some fantastic feedback from our clients this year, which we really appreciate so to finish our year off I thought I would share a couple of the testimonials we have received. …
When keeping your accounts records you can choose whether to record your transactions on a cash or accrual basis so it is important to understand these terms when it comes to understanding your finances as they can each give a different picture of your business for the same period. Recording transactions on a cash basis means …
The last couple of years have got busier and busier for us. Lots of new enquiries, lots of new clients and lots of one-off Xero training but with MTD looming I decided at the beginning of this year we would not take on any new clients for a few months. As lovely as it is …
