It is easy in business to find your suppliers chasing you for payments that you believe have already made. This often happens when your MYOB creditors aren’t reconciled with your suppliers statements. Invoices can easily be lost in the mail or ‘filed’ in the bin or wrong place accidentally.
Check all your invoices off to your statement so that it is only necessary to make one payment and you can be confident it is correct. This also makes your MYOB profit and loss reporting correct. If the invoice hasn’t been entered profits can be overstated, otherwise known as you think you have more money to spend than you really do! It could be very easy for this to land you in avoidable trouble.
For more information contact All Systems Go Bookkeeping.