How to help yourself and your accountant with invoices

By | February 4, 2017

The need for accountants to plead for your invoices is often cited as one of the most tiresome factors of bookkeeping and if you’re currently racking your brains as to where you put receipts, bills and transaction copies then don’t despair, help is at hand.

Although requests for invoices may seem sometimes pointless, it does all add up in the long run and if you have to question why you’re constantly getting nagged to supply proof of purchases then maybe it’s time to work a little differently.

By keeping in control and doing a little and often you’ll be able to avoid the inevitable rush and frantic panic come tax year end and if you really want to save money then getting on top of your day-to-day finances is definitely the best policy.

Below is a quick three point guide to getting your invoices right and if you still continue to ignore your accountant’s requests for receipts then it’s about time you woke up and smelled the coffers.

Stay online

When dealing with any business it’s always good practice to keep note of what transactions have taken place. By keeping your orders and sales online you’ll already be producing personalised receipts that can then be logged and sent to your accountant. Some companies even produce an actual invoice at point of sale which, although in a different format, can be presented along with the rest of your spreadsheet figures to help with your end of year balance sheet.

Get digital

Although it can be tempting to keep copies of transactions in paper form simply by storing in an overflowing A4 envelope, the best way to ensure you don’t lose anything is to make a digital copy i.e. save as a PDF. By having easy access to PDFs of your transactions you can then forward this file onto your accountant via email, file sharing site or USB memory stick and if they’re a good Able accountant you’ll find that the paper print outs come at their end, not yours.

Remember to write

Dates, signatures and meaningful scribbles will all come in very handy when you have to remember a particular paper trail and no matter how small the transaction make sure you keep note of events to ensure you’re not left staring at a meaningless set of numbers in the future. Public, private or your own form of transportation bills are all an excellent example of small transactions that should be logged and if you’re hoping your accountant will save you money then do them a favour and keep on top of your accounts.