Do you raise invoices promptly?

13 June 2022

When business is booming, you are focused on ensuring all orders are filled, customers are served, all works are done etc etc; but this could mean that trying to get your invoices out on time may start to slip. They may start to get issued later and later meaning the money isn’t coming in as the invoices aren’t going out. 

 

Staying on top of the admin side of your business can become a strain on resources; not only can raising vital invoices fall behind but following up on the payments and what is overdue can also slip. The longer you take to invoice someone you run the risk of the invoice not being paid at all. Trying to then figure out what you have billed and when, what is owed and who from can be a bit of a nightmare! 

 

Preparing invoices is just one job that a bookkeeper can take off your hands, as well as preparing the invoices a bookkeeper can chase overdue payments to ensure your books are always up to date which reflects the exact financial position your business is in. 

 

Not only is preparing the invoices an added stress to your daily routine you must also ensure you pay your outstanding bills on time too. Not paying your suppliers on time can put your business at risk and potentially ruin your reputation. However, you can use a bookkeeper to either schedule in a “payment run” once a month or alternatively with the right paperwork in place with your bank, they can set up the payments on your banking system too making sure you are always on time with paying your suppliers, which can help to building a good rapport with your suppliers. 

 

Give us a call today to see how we could help with your business administration; see how much time we could free up in what is an already a very busy role. 

by PH186232 22 June 2025
Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) is coming, now is the time to get prepared! Whether you're a sole trader, subcontractor, or running a small limited company, choosing the right accounting software will keep you compliant and help you stay in control of your finances. But with so many options out there, how do you choose the best MTD software for your business? Here are some key features to look for: HMRC Compatibility The most important feature is that the software you choose is MTD compliant. It should link directly with HMRC so you can send updates digitally as well as meet other MTD obligations. Ease of Use Your time is best spent on-site, not buried in admin. Choose software that’s straightforward and suits your level of accounting knowledge. Look for mobile apps and dashboards that give you access on the go. Automation & Reporting The best systems will save you time by automating recurring tasks, like invoicing, expense tracking, and mileage logs as well as offering clear reports to help you understand where your money's going. Pricing & Scalability Think about where your business is headed. Can the software grow with you? Choose a platform that fits your budget now, but also supports features like payroll, CIS returns, or multiple users down the line. What are the most popular software options: QuickBooks – A popular option for trades and small business owners, offering strong mobile tools and CIS features. Xero – Great for real-time visibility, simple bank feeds, and job costing add-ons. FreeAgent – Perfect for sole traders and subcontractors, especially those who like things kept simple. Sage – Well-established and ideal if you’re looking for a more traditional setup with solid support. You’ve chosen the software but why make the switch now If you’re still using spreadsheets or a paper-based system, we cannot stress enough that now is the time to go digital . Getting ahead of the MTD deadlines gives you time to learn the software, avoid penalties, and work out any teething problems before submissions are mandatory. A quick note to be aware ...... some banks now include accounting software when you open a new business account. However, it’s advisable to do your research first to ensure the software they are offering meets your business needs. We can help with your MTD journey; we offer a variety of packages to suit each individual’s needs, from basic set up to regular training or just ad hoc training on any areas you may be getting stuck with, we also offer full packages where we can do it all for you. Get in touch for more information.
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