Attrition is essential for efficient bookkeeping. It provides overview and prevents errors in your records.
In this process, you link invoices to payments. You do this to check whether all outstanding items have been settled. You compare open debtor and creditor items with bank statements. This is how you quickly detect discrepancies, such as late payments or incorrect transfers.
Why is attrition important?
Attrition keeps your financial records accurate. It prevents you from being left with unpaid invoices or double payments. This process gives you clear insight into your financial situation. This allows you to make better decisions for the future.
Automating attrition
Bookkeeping does not have to be done manually. With accounting software, you easily automate this process. Software links payments to invoices and identifies discrepancies. This saves time and reduces the risk of human error.
A good write-off increases your cash flow. You can immediately see which customers are behind on payments. This helps you with targeted debtor management. You also avoid sending payment reminders to customers who have already paid. This improves your customer relations.
Ticketing for sole traders and SMEs
For sole traders and SMEs, attrition is crucial. With clear records, you meet your tax obligations. In addition, you avoid losing turnover due to outstanding payments. Accurate bookkeeping also gives you more peace of mind.
Want more control over your financial records? Then use automation software, such as TriFact365, to simplify the process. This will make your administration more efficient and prevent problems. Sound accounting starts with proper markdowns.
