How good are you at collecting debts?
I have a friend with a small solicitors practice. It is the principal plus three other solicitors. There are three other admin type staff. So four fee earners.
There is difficulty with cash flow and she has asked that I come and have a look at her accounts and debtors.
For this size of practice, what would you say would be an acceptable number of days in debtors? ie Total debtors (say at year end) divided by rough daily turnover.
Would appreciate anyones comments.
- Year end 212 2
- US/UK Dual Citizenship 299 13
- A little knowledge 126 4
- Clothing 599 19
- Investment properties/freehold land 135 6
- Money laundering and can accountants be sued by clients if they make a report 1,262 18
- Parent and subsidiary... 165 5
- Identity check problem 1,495 14
- No tax returns for 6 year 87 1
- Capital allowances on Software 219 2
- Designated sole Residence 201 4
- Trading Losses - 3 Year Carry Back 92 3
- Company director and KIT days 116 1
- client can't/won't pay 2,177 50
- Anybody still doing returns? 854 34
- Digita in the cloud 63 1
- Change to PAYE TAX CODE 234 7
- IHT and US resident 125 2
- Tax relief when working away 77 1
- Capital allowances on transfer of business 213 8
- Form MR01 (Particulars of a charge) - does this need to be filed if you remortgage with the same lender? 957
- Underpaid VAT assessment and relation to SATR 682
- Did you realise Google will not patch android exploit ... 628
- Latest phishing scam 605
- Cashback for opening business bank acct = trading income? 442
- Auto Enrolment Questions Answered 329
- Scratch Head 270
- Loan benefit after person ceases as director/employee 260
- Sabbatical payments 221
- Negligible Value Claim 200