Book Keeping –
- Sales Ledger – raising invoices to customers, and ensuring they are filed for easy retrieval.
- Credit control – chasing payments from customers – outsourcing of this can sometimes be arranged, as not part of ABC core services.
- Purchase Ledger – matching payment requests to delivery notes and logging them under appropriate headings. Keeping a track of discrepancies, who has been paid and notifying which ones need paying to stay within terms agreed.
- Bank Reconciliations – checking the bank accounts accurately reflect what other data tells you, and sorting any discrepancies.
- Tracking reporting deadlines – VAT, payroll, suppliers etc and having reports prepared on time to avoid penalties.
- Tracking Assets – keeping track of equipment used by the business as this requires separate logging and depreciating over its useful life. Disposals need logging and any proceeds received recorded.
- Payroll – running the payroll function for the business.
- Cash flow – monitoring monies in and out to ensure expenditure forecasts can be met.
- VAT – preparing and submitting returns once approved.