One night last week a fire broke out in a building next to the office where my son works. Everything in the office was destroyed and the building will have to be repaired. Due to the current situation staff were already working remotely so work could continue without too much delay. A situation such as this would come as a massive shock to all business owners who have their own premises and highlights …
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. …
March is the chosen financial year end for more than 60% of our bookkeeping clients, whether they are a sole trader or a limited company. So in April and May we are completing March and April bookkeeping for our bookkeeping clients, completing their VAT returns and finalising their accounts to hand over to their accountant. This year, despite the additional workload created by COVID-19, …
Whilst you have time to spare and are looking to reduce your overheads now would be the time to look at the charges for taking payments by card. You will be paying fees to offer your customers this service and every merchant services provider will charge differently. …
