Can my accountant keep track of my receivables and payables?
Yes, if your engagement provides for ongoing tracking. No, if it is deadline-driven — and that is the honest answer, not a commercial caveat.
What the tracking covers
Customer and supplier balances kept up to date as movements come in. Reconciliation of payments received and payments made. Identification of invoices that are due and unpaid. A flag on balances that build up from one month to the next.
This work assumes the documents reach us regularly. An invoice sent over in February for a sale made in September cannot appear in a September position.
Who actually needs it
A company that issues few invoices, is paid quickly and knows its customers has nothing to track: it knows where it stands. Selling it monthly tracking would mean billing hours to confirm what it already knows.
Tracking becomes useful when there are more invoices than anyone can hold in their head, when payment times start to stretch, or when nobody inside the company is looking at the balances.
We bill on a time-spent basis: tracking costs more because it takes more. It is for you to say whether you need it, and we will tell you if we think you do not.
No longer sure where your balances stand?
Describe your situation and we will tell you what it involves and what it costs.
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