Bookkeeping errors can often lead to lower profits for businesses; in some more serious cases, they can result in problems with HMRC. It is vital, therefore, that as a business owner, you ensure that your bookkeeping and accounting is carried out correctly and accurately.
Survey Reveals Conveyancing Firms Miss Out On Disbursement Charges Due To
Bookkeeping errors can often lead to lower profits for businesses; in some more serious
cases, they can result in problems with HMRC. It is vital, therefore, that as a business owner,
you ensure that your bookkeeping and accounting is carried out correctly and accurately.
One Abacus can help with that.
A recent survey conducted by Today’s Conveyancer and InfoTrack found that many
companies are missing out on charging disbursements to their clients, which is leaving them
out of pocket. Fifty per cent of those surveyed admitted that it was bookkeeping errors that
had led to the lost disbursements.
The lost disbursements are often the result of fragmented processes used by the
conveyancing companies, with many admitting that they receive multiple invoices and
almost half saying that they are using five or more websites when completing conveyancing
CEO of InfoTrack, Scott Bozinis, said, “The results demonstrate that with over 60% of
conveyancers receiving multiple invoices for any given matter, it is possible to miss
disbursements. It is clear that accessing multiple websites for a single matter make it
difficult to keep on top of billing. A consolidation of the process is required to simplify the
day-to-day conveyancing tasks in order to maximise revenue and time. The key to
combatting these missed disbursements is through the use of technology, which reduces
the number of websites that need to be visited, relieving administration and bookkeeping
At One Abacus, we know that bookkeeping and accounting can be a massive headache for
many business owners. That is why we offer a range of packages for sole traders and limited
companies. We can take care of your bookkeeping and accounting so that you do not have
to worry about this side of the business.
By choosing One Abacus, you will get your own account manager who will liaise with you
every step of the way so that you do not have to stress out when the time comes to file
your returns. Whatever your needs in terms of bookkeeping and accounts, let One Abacus
take care of it for you. Call today for a quote.
This article originally published at One Abacus Blog