This month or next?

[frankie007]

Hi all,
I run a small catering business next to a brewery. I have recently started taking payments with Sumup card Terminal. I am using my own(Lloyds) business account which means that it takes 2 days for the money to get transferred. So the payments made on 30th of April reach the account in May. My question is when I do my bookkeeping/accounting when do |I log in the sales? When the money went in to the account or when i made the sales. I have always done everything monthly. Also sum up produces a printable monthly record in which only the cleared money with fees taken out shows.

 

[Scalloway]

Strictly speaking you should log the sales when they are made. How I do this is set up SumUp as a bank account in my software. The sales go to the SumUp account and the balance is cleared when money is received from SumUp.