The short workings refers to the difference between the actual royalty and the minimum rent. Recoupment of short workings is when the lessee is given an opportunity to recover any excess payment... Read more »
Also, if there are other businesses that may be affected in case of bankruptcy, then this could impact whether any claims would be paid back in full or just partially. The same... Read more »
An even better option is to digitize your bookkeeping by using a system such as Stessa. You can use Stessa to connect accounts quickly and securely so that income and expenses are... Read more »