Keeping accounting records is an important management tool for business owners, but under Danish legislation, you are, in fact, also obliged to keep such records.
Keeping track of your business finances on a daily basis requires knowledge about the most important bookkeeping concepts such as charts of accounts, cash day books, debtors and creditors.
As a business owner, you must present accounts which show all the financial activities in which your business has engaged in the course of the year.
Read about invoicing rules as regards, for example, prices, pricing, interest on overdue payments and payment reminder fees.
Bookkeeping means to register all financial activities, i.e. transactions, in which the business is engaged.
You can find many good bookkeeping programs on the Internet. They often consist of a number of basic modules which you can configure to suit your own business.
Debt collection and payment reminders
At some point or other, you will come across a customer who does not pay his bills. Starting debt collection proceedings may be the only option.