Sage advice for small business owners

Gill Adamson BSc (Hons) CA CTA'Rennie Welch LLP
Gill Adamson BSc (Hons) CA CTA'Rennie Welch LLP
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TO ANY business, getting timely payment for work is vitally important, but keeping on top of invoicing and ensuring customers are paying within your credit terms can be a timeconsuming job.

Clearly, the sooner an invoice can be sent to a customer the better. Firstly, any queries can be dealt with whilst fresh in your mind, and the quicker the invoice is out, the quicker the money is in.

Waiting until the end of the month or when you have a minute is delaying your money and can lead to you being in overdraft at the bank, as you have to pay suppliers whilst waiting for customers’ cash.

Installing a computer program like Sage Instant Accounts may be the solution you need to keep ahead of the game, and top of the list of people your customers need to pay. It allows you to raise invoices simply, and with no prior knowledge of accounts.

The invoice layout can be set up to include both credit terms and, for example, bank details for direct payments. The invoices can then be printed or emailed directly to customer as a secure file.

Invoicing from Sage Instant Accounts also allows you to keep track of when you did a job and for whom, by creating a customer database, which records all work done for a client.

When payment is received, this is recorded, so an up-todate detail of who owes what is always available.

But what if you’ve done all of the above and you still haven’t been paid? Sage can generate letters, which you are able to customise, to chase for payments.

Of course, whilst you don’t want to hound customers and hurt your ongoing business relationship, it is equally important to remember that if work is done it is to be paid for in a prompt manner.

For more information contact 01573 224391 or gail.kristiansen@renniewelch.co.uk