The Financial Controller's Diary

A Financial Controller in a hi-tech small business writes about the trials of running a finance department...

Latest posts
Jul
28
5

The petty cash boxes have been removed from the office and the money paid back into the bank.  From now on we are going to buy office essentials in advance and have them delivered.  And if anyone wants to buy a pint of milk, or some stamps, and we don’t have any, they will have to reclaim that on

Jul
20
7

We’ve caught a thief – but the second half of the missing cash mystery remains unsolved.

CP called me into his office for a private meeting this morning.

Jul
14
19

I reconciled both petty cash boxes this week.

Mrs Dragon’s box balanced perfectly.

Mine was £20 short.

It can’t be the opening balance, because that was £0.

There definitely aren’t two notes stuck together in the box.

Jul
07
2

Mrs Dragon, CP and I have come up with what we hope will be the solution to our petty cash problem.

We do like to have cash available for quick purchases, and small shops don’t necessarily take cash cards, so we do need to keep the petty cash box.

Jun
30
26

I wasn’t able to write last week because the office was in something of a turmoil.

Mrs Dragon, who’s been in charge of the petty cash tin since Miss Books left and hasn’t yet handed it over to No 2, came to me in some distress, saying money was going missing from the cash box.

Jun
16

We have our new direct debit portal set up with GoCardless.  The process to set up that account was very easy indeed.

The big question then was whether we make it compulsory for customers to pay that way rather than with credit cards.

Jun
09
2

CP appeared at my desk last week looking like a boss who wants something.

Jun
02

We sent out a newsletter last week clarifying that customers pay in advance, rather than in arrears, for our software, and almost immediately one of our most awkward customers rung up about it.  No 2 was unlucky enough to take the call.

May
27
1

We’re revisiting partner payment terms at the moment.

We have a system that automatically stops a partner’s access to the software if they don’t pay.  Payment is collected either monthly, quarterly, or annually by credit card.

May
19
3

The response to last week’s diary was very interesting.  Some posters thought I shouldn’t have spoken to Mrs Dragon and should have just let her and No 2 sort out the dynamics of their relationship themselves.  Others – the majority – believe I did the right thing to intervene at an early stage.

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