• Contact us
  • About us
  • Digital edition
  • Online archive
Wednesday, June 18, 2025
Cumberland and Westmorland Herald
  • News
    Penrith man admits possessing cannabis twice with intent to supply

    Penrith man admits possessing cannabis twice with intent to supply

    Risks and strategies for flexible pension drawdown

    Risks and strategies for flexible pension drawdown

    Man arrested after fleeing from police in Penrith

    Man arrested after fleeing from police in Penrith

    £37.7 million to tackle potholes and upgrade roads

    £37.7 million to tackle potholes and upgrade roads

    Over £38,000-worth of fake goods seized at Appleby Horse Fair

    Over £38,000-worth of fake goods seized at Appleby Horse Fair

    New bid for Appleby stallion sculpture revealed

    New bid for Appleby stallion sculpture revealed

    18th century Eden pub sold as owners retire

    18th century Eden pub sold as owners retire

    Tebay’s plans for battery storage unit

    Tebay’s plans for battery storage unit

    Pub landlord must remove Covid canopy

    Pub landlord must remove Covid canopy

  • Sport
    Double national triumph for Stuart Robinson

    Double national triumph for Stuart Robinson

    Patterdale’s Eden Eagles make history

    Patterdale’s Eden Eagles make history

    Penrith teen crowned British vault champion

    Penrith teen crowned British vault champion

    Penrith gymnasts represent North of England in finals

    Penrith gymnasts represent North of England in finals

    New boss revealed for Penrith AFC

    New boss revealed for Penrith AFC

    Penrith Panthers celebrate winning season

    Penrith Panthers celebrate winning season

    Darren Edmondson leaves Penrith AFC

    Darren Edmondson leaves Penrith AFC

    Lucy plays key role in county T20 triumph

    Lucy plays key role in county T20 triumph

    Gold for Keith in annual festival of orienteering

    Gold for Keith in annual festival of orienteering

  • Obituaries
  • Nostalgia
  • Online archive
  • Buy Photos
  • Buy your paper
  • North Lakes Living
No Result
View All Result
Cumberland and Westmorland Herald
  • News
    Penrith man admits possessing cannabis twice with intent to supply

    Penrith man admits possessing cannabis twice with intent to supply

    Risks and strategies for flexible pension drawdown

    Risks and strategies for flexible pension drawdown

    Man arrested after fleeing from police in Penrith

    Man arrested after fleeing from police in Penrith

    £37.7 million to tackle potholes and upgrade roads

    £37.7 million to tackle potholes and upgrade roads

    Over £38,000-worth of fake goods seized at Appleby Horse Fair

    Over £38,000-worth of fake goods seized at Appleby Horse Fair

    New bid for Appleby stallion sculpture revealed

    New bid for Appleby stallion sculpture revealed

    18th century Eden pub sold as owners retire

    18th century Eden pub sold as owners retire

    Tebay’s plans for battery storage unit

    Tebay’s plans for battery storage unit

    Pub landlord must remove Covid canopy

    Pub landlord must remove Covid canopy

  • Sport
    Double national triumph for Stuart Robinson

    Double national triumph for Stuart Robinson

    Patterdale’s Eden Eagles make history

    Patterdale’s Eden Eagles make history

    Penrith teen crowned British vault champion

    Penrith teen crowned British vault champion

    Penrith gymnasts represent North of England in finals

    Penrith gymnasts represent North of England in finals

    New boss revealed for Penrith AFC

    New boss revealed for Penrith AFC

    Penrith Panthers celebrate winning season

    Penrith Panthers celebrate winning season

    Darren Edmondson leaves Penrith AFC

    Darren Edmondson leaves Penrith AFC

    Lucy plays key role in county T20 triumph

    Lucy plays key role in county T20 triumph

    Gold for Keith in annual festival of orienteering

    Gold for Keith in annual festival of orienteering

  • Obituaries
  • Nostalgia
  • Online archive
  • Buy Photos
  • Buy your paper
  • North Lakes Living
No Result
View All Result
Cumberland and Westmorland Herald
No Result
View All Result
Home Expert advice
This article appears as part of a paid partnership with Armstrong Watson

Is your financial record-keeping taking too much time?

By Glenn Clifford-Perkins, accounting partner, Armstrong Watson LLP

by CWH
2 May 2024
in Expert advice, News, Sponsored
A A
Share on FacebookShare on Twitter
Glenn Clifford-Perkins, of Armstrong Watson

 Whether you complete your financial record-keeping yourself or have a finance team, technology provides some great opportunities to make this task more efficient.

Addressing the accounting systems you currently use and making sure you get the most out of them can help reduce the headaches keeping financial records can create.

Most cloud-based accounting systems have a function to download bank feeds through online banking, meaning you don’t have to manually enter them.

They will appear every morning and then it’s simply a case of allocating the transaction to the right heading or invoice.

Invoice scanning software can automatically enter supplier invoices into your system simply by taking a picture or scanning invoices.

You can also provide a “magic” email address to your suppliers so that any supplier invoices sent to this email address will automatically appear on your financial system.

Another useful function of cloud-based accounting systems is that they have a facility to set up rules, meaning any recurring transactions – paid every month or quarter to the same suppliers – can be treated consistently. For example, with BT bills, rules can be set up to claim 20% VAT and post the net amount to telephone costs.

You’ll also need to ensure your chart of accounts provides sufficient detail – but not too much. Having too many headings can lead to transactions being misallocated and can take time to correct.

Other time-saving functions include performing a pay-run directly from your financial system and the facility to automatically chase customers with debts outside your credit terms. They can also integrate with systems you use for day-to-day operations, such as hotel booking systems or website sales systems, meaning data is transferred automatically.

Finally, having a dashboard of live KPIs and financial headlines, which can be customised on most cloud systems, helps business owners focus on what is important and take immediate action where necessary, limiting the extent of emerging issues before they grow.

If you would like to discuss your current accounting system and how you can improve efficiency to save you time then please contact Glenn-Clifford Perkins on 01768 222030 or email glenn.clifford-perkins@armstrongwatson.co.uk

Related Posts

Penrith man admits possessing cannabis twice with intent to supply
Latest

Penrith man admits possessing cannabis twice with intent to supply

17 June 2025
Risks and strategies for flexible pension drawdown
Expert advice

Risks and strategies for flexible pension drawdown

15 June 2025
Man arrested after fleeing from police in Penrith
News

Man arrested after fleeing from police in Penrith

13 June 2025
£37.7 million to tackle potholes and upgrade roads
Latest

£37.7 million to tackle potholes and upgrade roads

13 June 2025
Over £38,000-worth of fake goods seized at Appleby Horse Fair
News

Over £38,000-worth of fake goods seized at Appleby Horse Fair

13 June 2025
New bid for Appleby stallion sculpture revealed
News

New bid for Appleby stallion sculpture revealed

13 June 2025
No Result
View All Result

Stay connected

Facebook Twitter Instagram

Most popular

Penrith man admits possessing cannabis twice with intent to supply

Penrith man admits possessing cannabis twice with intent to supply

17 June 2025
Flower fairies of Kirkby Stephen brighten people’s day

Flower fairies of Kirkby Stephen brighten people’s day

13 June 2025
£900 raised for Zambia neonatal unit

£900 raised for Zambia neonatal unit

13 June 2025
Risks and strategies for flexible pension drawdown

Risks and strategies for flexible pension drawdown

15 June 2025
Carbon audit produces positive results for North Sheep host family

Carbon audit produces positive results for North Sheep host family

13 June 2025
Take a walk down memory lane

Take a walk down memory lane

13 June 2025
Cumberland and Westmorland Herald Logo

33 Middlegate
Penrith
Cumbria
CA11 7SY

Phone: 01768 862313
Email: news@cwherald.com

Registered in England as Barrnon Media Limited. No: 12475190
VAT registration number: 343486488

Explore

  • News
  • Sport
  • Farming
  • Property
  • Obituaries
  • Nostalgia
  • Your view

Useful links

  • Contact us
  • Photosales
  • Online archive
  • Buy your paper
  • Digital edition
  • North Lakes Living
  • Advertise
  • About us

Follow us on

© Barrnon Media Limited 2025

Terms & Conditions / Privacy Policy / Cookie Policy

This website and its associated newspaper are members of the Independent Press Standards Organisation
Review Your Cart
0
Discount
Add Coupon Code
Subtotal
Total Installment Payments
Bundle Discount
Checkout

 
0
No Result
View All Result
  • Home
  • News
  • Sport
  • Obituaries
  • Nostalgia
  • Online archive
  • more
    • North Lakes Living
    • Buy Photos
    • Buy your paper
    • About us
    • Contact us

© 2020 Cumberland & Westmorland Herald