*I’ve recently been in the position of choosing accounting software, so this has been forefront of my mind. This is a (by no means exhaustive) list of things to consider (in no particular order). price functionality ease of use/user friendliness accounting knowledge upgradeability upgrade cost ongoing support costs flexibility does it meet your legal obligations [read more]
Duties of a Sales Ledger Clerk*Some of the duties may be carried out by the Credit Controller, rather than the Sales Ledger clerk, if the company is big enough to have this segregation. Again, this is only a generic description and some duties may not apply or may have been omitted. Match dispatch notes to customer orders Produce sales invoices Allocate customer payments [read more] |
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Duties of the Purchase Ledger Clerk*This is a general list. Some may not apply to all businesses. Equally, there may be some things that I have missed off, but may apply, particularly to specific industries. log all the purchase ledger invoices (either on paper or into the accounts system) that have been received. match invoices to the Goods Received Note [read more] |
Why use Accounting Software*The whole point of using accounting software is to make your life easier by saving you time and money. Therefore, if it doesn’t and you can meet your legal requirements without it, you should question whether it’s worth the effort. It should save you time because: the whole process of bookkeeping should be faster (although setting [read more] |
Following the Trail of Journals*In doing a journal, it is important that it is cross referenced properly so that later, if you or your accountant needs to, you can follow the original “logic” for having done the journal. Accountants refer to this as being able to follow the audit trail. This applies whether or not you actually have your [read more] |
Correction of Errors using a Journal.*A journal is usually used to correct errors that have been made. The errors must be able to be corrected by means of a double entry, to be able to put it right by journalling. So, if £500 of sales of square widgets had been incorrectly posted to sales of round widgets, the correcting journal [read more] |
Day Book Analysis and Journals*I’ve previously blogged about day books and analysing the sales or purchases into appropriate columns. Depending on your business and grasp of accounting & bookkeeping, you might leave your record keeping at that. However, to take it to the next step in terms of bookkeeping, a journal is used to take that analysis into the [read more] |
