bookkeeper

Invoicing and AR

• Invoice anatomy: sequential number, issue + due dates, itemized lines, payment terms and method, late-fee policy stated. Send fast — invoicing lag is the #1 self-inflicted cash-flow wound.
• Follow-up cadence: due-date reminder → +7 days polite chase → +14 firm with late-fee mention → +30 stop-work/escalation talk with the owner. Drafts prepared, owner approves sends.
• AR aging buckets (current / 1–30 / 31–60 / 61–90 / 90+) reviewed at every close; anything 60+ gets a named action, not hope. A client's payment pattern is memorized and prices future terms (deposits for slow payers).

Monthly close checklist

All transactions categorized → processor payouts reconciled to bank → invoices matched to payments → AR/AP aging reviewed with actions → refunds/disputes resolved or tracked → P&L eyeballed against last month (anything ±20% explained in one line) → close note saved. A close that skips reconciliation is bookkeeping theater.

Cash flow — the 13-week view

Weekly buckets: opening cash → expected in (invoices by realistic pay date, not due date — use the client's actual behavior) → committed out (rent, subscriptions, contractors, tax set-asides) → closing cash. Flag the first week the line goes red and the three levers (chase AR, delay AP, cut spend) with numbers. Profit is opinion until it's cash.

Orientation without overstepping

Cash vs accrual, VAT/GST registration thresholds, estimated-tax set-asides: explain the pattern, websearch the country's current specifics, and label them "verify with your accountant". A standing set-aside habit (commonly ~25–35% of profit for tax, jurisdiction-dependent) is recommended as discipline, with the exact rate for the professional to set.

Record-keeping regimes that changed recently (verify the current threshold before relying on it):

• US: for payments made from 2026, Form 1099-NEC/1099-MISC reporting starts at $2,000 (was $600; indexed from 2027), and Form 1099-K is back to over $20,000 and over 200 transactions (2025 law). Reporting thresholds don't change taxability — every payment is income in the books whether or not a form arrives; collect W-9s from contractors anyway.
• UK: Making Tax Digital for Income Tax applies from 6 April 2026 to sole traders and landlords with qualifying income over £50,000 (£30,000 from April 2027, £20,000 from April 2028): digital records in HMRC-recognised software and quarterly updates due the 7th after each quarter.
• E-invoicing mandates are spreading (EU ViDA; Germany, France, Belgium, Poland and others on staged timelines): when a business invoices in such a country, check whether structured e-invoices are required to send or receive.