This is for a customer that is also a vendor (same business name), and you have a bill from them but they also have open invoices that are due.
The bill that you owe them is more than what they owe you - invoices.
The correct way to reduce the amount of the bill you owe them with the amount they owe you from invoices is as follows:
- Create a bank account called "Clearing"
- Receive payment of the invoice and deposit to the "Clearing" bank
- In pay bills, pay a portion of the bill from th "Clearing" account in that amount
- Make the "Clearing" account inactive until you need it again.
Kathryn C. Tiffany, LLC is dedicated to the success of small businesses through Vision, Alignment, Strategy and Teamwork.
We represent "roll up your sleeve" accounting types.
We love what we do and we enjoy helping our clients succeed. We cans support anything from your basic bookkeeping needs to CFO and Controller support.
With twenty-eight years of experience in accounting in various industries our team is here to ensure your success.
When you need a right hand woman you need Kathryn C. Tiffany, LLC.
Bookkeeping Services
A good bookkeeping system is not just "important" for a small business -- it can mean the difference between success and failure.
Successful businesses are those with good internal bookkeeping systems and as a result have better control over their cash-flow and profitability. Businesses with no accurate bookkeeping system do not understand their costs and often struggle to stay on top of the many Tax deadlines that they manage.
At Kathryn C. Tiffany, LLC we insist on periodical bookkeeping so as to help you make accurate and informed financial decision for the future of your business. Our dedicated team of qualified bookkeepers will work to develop a tailor made bookkeeping system that suits your business based on an in-depth understanding of your business to effectively manage your day-to-day bookkeeping tasks.
We offer bookkeeping services to small businesses as well as well as individual contractors, freelancers, medical offices, partnerships or consultants. More importantly, we are proficient with all major bookkeeping software packages, including QuickBooks, ADP. Paychex. Excel, TOPS and many more.
The Bookkeeping services we provide includes:
Day to day Bookkeeping
QuickBooks Online Bookkeeping
General Ledger management
Account Receivables
Payables Recording
Bank Reconciliations
Daily Cash Management
Credit Control
Why choose Kathryn C. Tiffany, LLC bookkeeping services?
We give you value for money
We give you great service at a fixed (reasonable and competitive) price
We design a bookkeeping template that suits your business
Your books are always accurate and up to date
We give you a dedicated certified bookkeeper manager
We are bonded, insured and licensed
We are local 24/7
To arrange a no-obligation meeting about outsourcing your Bookkeeping arrangements to us and benefit from our wealth of experience, simply contact us at 856-803-4651 or email Kathryn@TiffanyAccounting.com
Kathryn C. Tiffany, LLC (Licensed, Insured and Bonded)
Certified QuickBooks ProAdvisor
Office: 856-803-4651
Located in Voorhees, New Jersey
Intuit QuickBooks Profile: http://proadvisor.intuit.com/quickbooks-help/kathryn-tiffany
Email:Kathryn@TiffanyAccounting.com
Web: http://www.TiffanyAccounting.com
On a monthly basis we reconcile bank statements, credit card statements, and prepare your financial statements. Whether you are a sole proprietor, partnership, corporation, or non-profit, we help to keep your business running smoothly.
