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How To Handle Late Payments : Advice, Templates, and Best Practice

How To Handle Late Payments : Advice, Templates, and Best Practice

Bringing up a late payment with a client is always a delicate situation. We explain the first thing you can do when an invoice goes unpaid after the period specified, send a polite reminder by post, or by email. Over time, writing out these reminders manually can become time-consuming and tedious, which is why we’ve compiled our how-to guide with information on what to include in your message and some writing tips. Finally, we show you some example letters, email reminders, and formal notices to pay.

Explaining Bank Reconciliation : How To Carry It Out Quickly and Effectively

Explaining Bank Reconciliation : How To Carry It Out Quickly and Effectively

Bank reconciliation: at first glance, it sounds complicated, but don’t let the name put you off!  This essential process is simply used to ensure that the company’s account books are in line with the business bank statements. In other words, ensuring that the bank account’s debit balance equals its credit balance. Today, we’ll look at why you should carry out bank reconciliation, whether you’re self-employed or a small business, and how to go about the bank reconciliation process. 

The Income Statement : Definition and Examples

The Income Statement : Definition and Examples

What Is An Income Statement? An income statement is an accounting summary document containing information related to analyzing the financial performance of a company. The income statement (also known as a balance sheet, a profit and loss statement, or a statement of...

Bookkeeping and Accounting for Small Businesses and the Self-Employed

Bookkeeping and Accounting for Small Businesses and the Self-Employed

Self-employed or running a small business? You’ve probably found yourself pondering the world of accounts –  and what exactly does bookkeeping consist of? Is it something we can do easily enough by ourselves, or is it best handled by an accountant? In this post, we’re going to run through the basic principles of bookkeeping, and explain why it is so useful. Allow us to suggest some tools for getting it done independently and with ease.

Kiwili’s Accounting Module: Initial Setup and User Manual

Kiwili’s Accounting Module: Initial Setup and User Manual

Follow this step-by-step guide to help you set up and use Kiwili's Advanced Accounting Module. If you are starting with Kiwili: 1) Go to the "Settings" section and fill in all the necessary elements for each section, ending with the "Accounting Configuration" section....

Kiwili’s Accounting Module: General Journal Entry

Kiwili’s Accounting Module: General Journal Entry

Learn how to create, edit, or export general journal entries in Kiwili. Once the accounting module is configured, the general journal entries will be generated automatically. Note that you can also create entries manually. Add a General Journal Entry Manually At the...

Kiwili’s Accounting Module: Bank Reconciliation

Kiwili’s Accounting Module: Bank Reconciliation

Follow this step-by-step guide to learn how to do bank reconciliation with Kiwili's Advanced Accounting Module. Bank reconciliation is useful for determining whether the cash flows recorded in the company's books are in line with the bank statements. In order to do...