Company), they are also the only way to make meaningful decisions.
How to reduce the time taken in accounts preparation:
• File your invoices and correspondence in order.
• Record and analyse all your cash, credit card and bank transactions.
• Sub-total each page of your cash book and day books, providing totals at the end of each month.
• Reconcile your payment analysis book with your bank and credit card statements.
• Reconcile PAYE, NI, and VAT account balances with amounts due to HM Revenue & Customs.
• List and total your year end creditors.
• List and total your year end debtors.
• List your fixed asset additions and disposals made during the year.
• List and total your year end stock and work in progress.
• Keep back ups of your computer records.
• Reconcile your principal control accounts including sales, purchases and bank accounts.
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