Accounting Advice Quick Tips
Here are a series of general and concise accounting advice (quick tips), which we have posted on our social media channels, LinkedIn, Twitter and Facebook.
Its not in-depth or bespoke, these are just quick tips general accounting advice with common issues that we can offer concise assistance with. We hope you find them helpful.
You are always welcome to contact us for help and guidance you many need with any of your accounting and finance headaches. We would be happy to help. Use our website contact form, connect on social media or call the office.
Credit Control Quick Tips
- Stay professional and do not become emotional
- Keep detailed notes, including names, dates and actions
- Resolve queries quickly and document the agreed resolution
Payroll Quick Tips
- Consider outsourcing payroll for a host of reasons including confidentiality, time saving and professional expertise
- If your payroll is in-house, make sure you know your deadlines and set up reminders so you don’t miss them
- Small payroll could be eligible to pay PAYE quarterly
Sage 50 Quick Tips
- Use alpha numeric account codes for customers & suppliers, ABK0001 as an example
- Reconcile all bank accounts monthly or weekly if transaction volumes are high
- Flag transactions as reconciled when you complete your VAT Returns and take backups before and after processing the VAT Return
VAT Quick Tips
- Check the VAT number of a new supplier or customer
- Ensure you put the correct wording on pro-forma invoices
- Always retain certificate of shipment for exports