In this blog I will outline three very useful Sage reports to assist you and your business.
1. Aged Debtors
This report can be found by clicking the reports button in the Customer module.
These reports and especially the aged debtors (detailed) are very good for credit control. They will not only show which customers owe you money but will also show how overdue the payments are.
This information can allow you to focus your attention on collecting your oldest debts saving you time and hopefully improving your business’s cash flow.
Good cash flow is essential to the survival of any business large or small.
2. Aged Creditors
This report functions in the same way as the aged debtors report but instead can show you at a glance to whom you owe money.
Prompt payments to suppliers are essential if you wish to maintain good trading relations with your suppliers. The credit terms they offer to you can be withdrawn!
By looking at these reports you can make sure you make your payments on time to preserve preferential trading terms.
3. Bank – Unreconciled Transaction Reports
This report found in the reports section of the bank module will quickly show you the transactions that have been entered in Sage, but not matched against the bank statement.
Regularly reviewing the unmatched items will allow you to:
- Spot cheques that you have written but where the payee has not banked the cheque.
- Transactions entered into sage in error.
- Explain the difference between the bank balance in sage (cashbook figure) and the balance on your bank statement.
If you need help with your bookkeeping, please get in touch.
Jonathan Cohen – Audit Team
Westbury Accountants and Business Advisors is an accountancy practice based in London. Westbury have been providing Accounting and Tax solutions to small and medium sized businesses since 1936. Talk to the team at Westbury on 0207 253 7272; or visit http://www.westbury.co.uk.