Good online accounting needs good house-keeping, but Sage One really does make it easy for you. Every month, check that you have done the following to ensure your business finances are in tip-top condition:
Create sales invoices.
Enter purchase invoices.
Enter cheque payments from cheque book stubs.
Enter receipts from paying in book stubs.
Reconcile the bank accounts.
Run the Aged Debtor report.
Run the Aged Creditor report.
Run Profit & Loss Report.
Run Balance Sheet.
Run VAT return (if VAT registered).
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Source:http://www.dummies.com/how-to/content/monthly-accounting-checklist-for-sage-one.html
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