Record Payment Info

Sample supplier invoice (above)  Every piece of paper filed should talk to you On all supplier invoices clearly record how and when an invoice is paid. You’d be surprised how often I find this vital information missing. Record Date paid Credit card or bank...

Customer Statements Post or Email

Sample customer statement (above) Is it better to post or email statements to customers? The Post Option Using the Royal Mail is not always convenient or reliable. Postage costs in the UK have increased significantly over the past several years. There’s also a...

Prompt Customer Payments

Good cashflow is key Payments can often be late, for many different reasons. Of course, it’s important to encourage payment on time. Start by making it easy for customers to pay you. Offer alternative ways to pay Cash Credit Card Bank Transfer On Account Direct...

Checking Your Bank Account

Sample bank statement (above) Do you check your bank account regularly enough? Quarterly, monthly, weekly, daily, hourly? The right frequency really depends on the volume of transactions going through at any one time. I would recommend at least once a week and perhaps...

Saving Money on Foreign Purchases

Purchases in foreign currencies are increasingly common for small businesses Does your business buy goods or services from abroad?  If so, make sure you’re not wasting money by paying excessive transaction fees or getting poor rates of exchange. Here are a few...

Outsourcing but Staying in Control

Why do everything yourself? There are many aspects of a business that can be outsourced to save a busy business owner a great deal of time. These include sales and marketing, admin, telephone answering, diary keeping, Human Resources and, of course, bookkeeping and...

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