January is a great time to give your accounts and admin a good shake up – with many businesses having a December year end, this is the time to review the accounts function as you close out your year end. Flaws and inadequacies become more apparent when completing the accounts. Perhaps as a business owner you are doing the books yourself, or this is just part of the admin function and has evolved over time. In either case, the accounts are probably taking up too much time, are not being done efficiently or effectively and you’re certainly not getting any information. As businesses expand and mature, they outgrow initial systems put in place and need a more professional appraisal of their accounts / finance function. If you have concerns about this aspect of your business, now is the perfect time to contact a professional service. #cowhiemanagementservices #yearendaccounts #accounts

THE 'DEBTOR' IS IN THE DETAIL– Part 1 After years in business at Cowhie Management, it never ceases to amaze us how often debtor receipts are just posted as payments on account, and not allocated to the correct invoices. This can happen for any number of reasons but usually because there is no remittance advice issued or there are no details on the bank. We can’t stress enough how important it is to find out what your clients / customers are paying. If they have not given you a payment / remittance advice, then ask them what they are paying. This will save so much time, money, and frustration in the long run. It can so easily go on the long finger and before you know it the account is a mess and trying to get the money in becomes much more difficult. #CowhieManagementServices #creditcontrol