????????????

?

Money owed by you

1. Create a separate page for each supplier. The tabs at the bottom of each page in a spreadsheet can be marked and moved around to create an alphabetical ?filing cabinet?.
2. From your list of purchases on account, list each supplier?s invoices on a spreadsheet following the example below.
3. When you pay the supplier, note it in the ?amount paid? column and note down how much is still owed in the ?money owed? column.
4. Create a summary page, listing each supplier and their outstanding amount. Add the total outstanding amount to all suppliers.

Supplier X
Invoice number	Invoice date	Date paid	Gross	Amount paid	Money owed

Spot checks

1. Always make sure you can find the invoice from the information recorded on the supplier?s page.
2. Agree the ?money owed? column to the list of purchases and statements from suppliers.
3. Agree the ?money owed? column to the supplier control line of the trial balance column in the annual summary.

4.?? Use your supplier summary to make sure you pay on time and secure your credit for the future.

5.?? Boost your cash position by making full use of all interest free credit periods (for example 30 days before you have to pay your accounts).