We now have huge choice of software to use to keep our Accounting records. But do you know what the main benefits for keeping good bookkeeping records?
- To keep track of all issued sales invoices, make sure they correct, and also tell us how much our turnover is.
- To know which sales invoices are paid, over or under paid or not paid at all.
- To keep track of all purchase invoices received. To make sure we are not over or incorrectly charged.
- To know which purchase invoices are paid, over or under paid or not paid at all
- To know if you have enough money in the bank to pay your purchase invoices and when you expect to receive the money to pay your sales invoices.
- Importantly to know if you are making a profit, or loosing money and do you have enough profit, and money to pay yourself and your staff if you have any.