Simple Sales Ledger in Excel II
To format the numbers (in columns D,E, & F) so that they all have 2 decimal places, select these columns (by clicking at the top (where the column letter is) and then chosing Format|Cells and then...
View ArticleSimple Sales Ledger in Excel III
To finish off this simple spreadsheet, it might be helpful to make it look slightly more presentable.Select Row 1 (by clicking on the 1) and then bring up the Format Cells dialog box (either by...
View ArticleSettlement Discounts
It is quite common to offer a settlement discount to customers who pay within a certain timescale. The main reason for offering such a discount is to aid cash flow. However, do not miss the...
View ArticleSales Invoicing
If you give your customers credit (and most businesses do), it’s important to get your invoicing and customer payments systems in order. The obvious benefit is to aid cash flow and it is the first...
View ArticleThe Factoring Process
Every time a sales invoice is raised, a copy must be sent to the Factor as well as to the customer. (Some Factors will also raise the sales invoices, which would cut out this step). The sales invoice...
View ArticleBookkeeping for Factoring
It’s advisable to treat the Factoring Account as a bank account. Treat all withdrawals of funds from the Factor to the business’s own bank account as a bank transfer. The sales ledger in the...
View ArticleAdvantages and Disadvantages of Factoring
Advantages of Factoring It is a quick boost to cash flow (assuming that the Factor’s conditions can be met) Some customers take Factors more seriously and pay quicker (also, the reverse is true)...
View ArticleRecourse Factoring in the Statutory Accounts
Recourse Factoring calls for “Separate Presentation” in the balance sheet of a company’s statutory accounts. The liability to the Factor is shown as a short-term creditor, because in effect it is a...
View ArticleInputting Batch Sales Invoices and Credit Notes in Sage
How to input a batch sales invoice in Sage: (This is for invoices and credit notes generated outside of Sage) From the “Customers” module, click on “invoice” – which is usually a “button” icon near the...
View ArticleRecording Customer Receipts on Sage
How to input record a Customer Receipt in Sage: (This is to match payments received from customers to the invoices on their account in the sales ledger module) From the “Bank” module, click on...
View ArticleSimple Sales Ledger in Excel
First begin by heading up the columns, in cell A1: date of invoice invoice number (the number that you assign, since these are your sales invoices) customer net amount (if registered for VAT, if not...
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