Bookkeepers are actively helping small businesses thrive by managing their cash flow and chasing £1000s in late payments. A recent survey by the Institute of Certified Bookkeepers (ICB) found that 80% have proactively reduced debtor days and improved cash flow.
This is a really interesting time for the ICB to stick it’s head above the parapet – we’re fast approaching a world of Making Tax Digital (MDT) with April 2026 for sole traders taking over £50k revenue per year and by 2028 all traders taking over £20k will be taken into the MTD fold. What this means for many is that they’ll be forced to cough up for a software package, as HMRC hasn’t even bothered to create free bridging software for spreadsheets.
I’m predicting that the use of bookkeepers by sole traders will be vastly reduced in the future, as once your bank account is linked to software it’ll always be pretty much up to date ready for you to press the button for your quarterly update to HMRC. You’ll still probably want an accountant to tidy up everything, add in any claims and allowances, and provide tax planning advice, but where does that leave the role of the bookkeeper – no wonder the ICB are getting active to make sure that you appreciate the value your bookkeeper brings to your business!
So what do Bookkeepers do? They keep money moving: they watch daily transactions, fix errors in real-time, chase late invoices and make sure VAT, payroll and payments are done correctly, so businesses get paid faster and pay their people on time.
Common approaches include liaising directly with debtors, introducing clear payment terms, setting up personalised reminders, and using cloud accounting software to keep clients in control. Bookkeepers are also helping businesses adopt stronger financial habits and systems that prevent cashflow issues before they start.
And for many SMEs chasing debtors is often the most uncomfortable part of their business – asking for money, even when owed, seems to be a very British taboo that we’re just not that comfortable with. So a bookkeeper with no qualms over making a professional request for your debtors to pay is a god send.
I have managed to reduce debtor payment days from over 55 to 23 days. My advice is to be conscientious in following up all late payments.
– Suzanne Jack MICB, SISU bookkeeping
One client was nervous about chasing outstanding money, so we played ‘bad cop’ on his behalf by being polite and professional. We got him paid immediately.
– Sylvia Bourhill C.FICB PM.Dip, Another Answer
I achieved a payment of approximately £20,000 for one client by working meticulously through the sales invoices in their system and always tracking down the right person to speak to. Several very overdue invoices were paid in full for the client – and a lovely bunch of flowers were sent to us as a thank you!
– Sue Raison FICB PM.Dip of Abacus Antics
Bookkeepers are the invisible force behind small business resilience. They don’t just record what’s happened – they make sure tomorrow’s cashflow works. If an invoice is overdue, that’s your money – bookkeepers help you collect it quickly and respectfully, so you can stay calm, stay paid, and stay in business.
Behind every thriving small business is a bookkeeper quietly preventing problems before they start. They’re the secret ingredient helping businesses overcome late payments and build better financial habits for the future.
– Ami Copeland, CEO, Institute of Certified Bookkeepers (Pictured above)
Late payment is a big and complex issue that requires a multi-layered approach to combat. This research shows that bookkeepers play a vital role in the fight against a problem that costs the UK economy £11bn and sees 38 businesses go out of business every day as a result of not getting paid. I’m delighted to be speaking at the annual Bookkeepers Summit to thank this amazing army of payment warriors and to share other work we are doing to get money moving faster to small firms.
– Emma Jones, Small Business Commissioner
