Tracking Cash: Bookkeeping Musts after You Get the Money

Receiving incoming money is all well and good, but as a bookkeeper you need to remember to take certain steps after it arrives. You need to:



  • Record transactions in your books.



  • Track individual customer accounts.



  • Record any discounts that were offered.



  • Track any returns or allowances.



  • Collect from customers to whom you sell on credit.



  • Monitor customer accounts to be sure they pay on time.



  • Write off accounts from customers who just won’t pay.






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Source:http://www.dummies.com/how-to/content/tracking-cash-bookkeeping-musts-after-you-get-the-.html

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