Bookkeepers are actively helping small businesses thrive by managing their cash flow and chasing £1000s in late payments.
An ICB survey has found that 80% have proactively reduced debtor days and improved cash flow.
Bookkeepers 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.
Suzanne Jack MICB of SISU bookkeeping commented, “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.”
Sylvia Bourhill C.FICB PM.Dip of Another Answer takes a firm stance with her clients’ debtors, so they don’t have to. “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.”
And clients are grateful too. Sue Raison FICB PM.Dip of Abacus Antics recommends a personalised approach. “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!”
ICB CEO Ami Copeland said the results highlight just how vital bookkeepers are to the nation’s small businesses.
“Bookkeepers are the invisible force behind small business resilience,” said Copeland. “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.”
She added that bookkeepers’ proactive support and practical problem-solving make them indispensable partners for entrepreneurs.
“Behind every thriving small business is a bookkeeper quietly preventing problems before they start,” Copeland said. “They’re the secret ingredient helping businesses overcome late payments and build better financial habits for the future.”
Emma Jones OBE, Small Business Commissioner comments:
"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."
ICB bookkeepers will be sharing more stories about how they support small business success at the annual Bookkeepers Summit on 17 - 20 November.
