The informal sector: an untapped opportunity for accountants
Accountants need to upskill themselves and add value in a competitive market if they want to be a successfully self-employed.
Work with suppliers or contractors? Accounts payable software can help you to track who you need to pay and when.
Regardless of what business you run, it is almost certain you work with suppliers, contractors or employees who need to be paid.
You want to avoid wasting time struggling to use an unintuitive solution only to get phone calls from your suppliers or employees complaining about being paid the incorrect amount, or not at all. You must instead know who needs to be paid and when and then have confidence in your Sage accounting software.
Remember, paying suppliers on time will strengthen your relationship with them and help you renegotiate how often you pay in the long run.
Automating accounts payable will help you improve the accuracy of financial information, save time on business processes and give team members free time to work on other activities.
Taking this step is also useful if you want to avoid defaulting on suppliers and vendors.
The best way to find and calculate accounts payable is to keep accurate financial records and track what you owe to suppliers.
If you use Sage Business Cloud Accounting:
Keep track of your business' spending across multiple companies using our intuitive reporting software.
Paying on time keeps suppliers happy and strengthens relationships.
Simple, yet powerful Sage accounting software that gives you control over your finances and your business.
Accountants need to upskill themselves and add value in a competitive market if they want to be a successfully self-employed.
These are the steps we would like to see the government take as part of its strategy to turbo-charge economic growth, through increased support of SMEs.
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