Posted on 04/10/2016
Survey Reveals Conveyancing Firms Miss Out On Disbursement Charges Due To Bookkeeping Errors
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.
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.
Fragmented Processes
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 transactions.
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 headaches.”
Bookkeeping Headaches
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.
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