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Financial accounting

Maintaining an accurate, up-to-date record of a firm's finances is essential to its operations and its success.

  • Balancing your bank account

    When you enter records of money paid into and out of your bank account into the cash book, there is a delay of at least a couple of days until these transactions are cleared through the banking system and appear on your bank statement.

  • Balancing your sales (debtors) control account

    In a sales control account, the total of outstanding invoices at the beginning of the period and invoices raised during the period, less payments received for invoiced income, will give a balancing figure of invoices still outstanding at the end of the period - your debtors.

  • Balancing your purchase (creditors) ledger

    In a purchase ledger control account, the total outstanding invoices at the beginning of a period and invoices received during that period, less payments made for invoiced supplies, will give a balancing figure of invoices still outstanding at the end of the period - your creditors.

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Related services

  • Retirement & succession planning
  • Buying a business and raising capital

Related guides

  • Borrowing - making it work for your business
  • Improve profitability
  • Insuring your business
  • How to present a request for finance to your bank
  • Can you improve your profitability?
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Redford & Co Chartered Accountants
First Floor
64 Baker Street
London W1U 7GB

Tel: 020 7224 2444
Fax: 020 7224 3380