Double entry ledger system

The double entry ledger system is the preferred option for many businesses, for the simple reason that - when properly utilised - it provides a comprehensive and detailed picture of all trading activities.

In theory, it's simple.  All transactions - invoices issued, invoices received, payments issued and payments received - are entered and analysed.

Additionally, it allows the journal entry of periodic adjustments such as depreciation, expenses accrued and expenses prepaid.  All very useful when it comes to gaining a real understanding of how well a business is doing.

However, constraints of time, resources or expertise may make it difficult for small and medium-sized businesses to successfully implement such a system.

It requires discipline and logic, not to mention a thorough understanding and appreciation of its purpose and potential !

With us providing the expertise, your business can benefit from all the advantages of double entry bookkeeping without the worry of maintaining its associated disciplines.

You might like to consider the following questions:

Do you need to know how much your clients or customers owe you ?

If you were able to issue regular statements, do you think your clients or customers might pay you sooner ?

Would it be helpful to know how much your business owes to each of your suppliers and subcontractors ?

When you receive statements from suppliers or subcontractors, would it save you time and trouble if you could quickly check them against your own figures ?

Would life be easier if you knew - before releasing payments - the effect they are likely to have on your bank account/s ?

If you are registered for Vat or Paye or are a registered Subcontractor, would you be happier knowing that detailed "Liability" accounts will ensure that mistakes and late inputs are easily caught and rectified ?

If you are considering applying for a business loan/leasing arrangement, would you like to be in a position to submit a Balance Sheet and Profit & Loss Account as proof of your organisation's ability to meet the repayment schedule ?

If you have an outstanding loan or lease, can you easily determine the "principal" and "interest" paid during any financial period ?  Do you care ?  (You should;  interest is generally a claimable operating expense !)

Would you enjoy the confidence of being able to make financial decisions based on knowledge instead of guesswork ?

If you've said "yes" more than four times - this is the system we'ld recommend maintaining for your business.