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Money owed to you

1. Create a separate page for each customer. The tab at the bottom of each page in a spreadsheet can be marked and moved around to create an alphabetical ?filing cabinet?.
2. From your sales list, list each customer?s invoices following the example below.
3. Insert the amount paid in the ?amount paid? column. Note down how much is still owed in the ?money owed? column.
4. Create a summary page, listing each customer and their outstanding amount.
5. Add a bad debt column to the list to mark debts that will not be paid, and include them in the annual summary.?

Customer X
Invoice number	Invoice Date	Date paid	Gross amount	Amount paid	Money owed	Bad debt

Spot checks

1. Add the total money owed from all customers on the summary page. Agree it to the money owed column from the list of sales.

2. Always include enough information to enable you to find the invoice from the information recorded on the customer?s page.

3. Agree the total of the ?money owed? column to the customer control line in the trial balance column of the annual summary.

4. It is useful to know how much each customer owes for two reasons:

1. So you know who to ask for payment
2. So you can stop letting one of your poor paying customers buy on account before they damage your cash position.