This includes the day-to-day operations of the business and includes input of daily transactions and reconciliations of relevant bank accounts. Depending on client needs, this can include input of debtors and creditors. This process can be managed efficiently to let you get on with what you love doing – and that usually ISN’T the book work!
No matter how good intentions are – without regular input of invoices and follow up of outstanding debtors, your cash flow can be heavily impacted. Whilst an outstanding creditor will call to get you to pay – how often does a customer ring to chase up an invoice? Cash flow planning is vital for the survival of your business! Call to find out some strategies to make this process more efficient.
Having your accounts receivable systems in best-practice order and possibly automated (thanks to add-ons) is key to good cash-flow and good business health.
In order to let you get on with what you love doing, supplier invoices can be input and payments made to suppliers. Usually electronic payment results in more efficient and streamlined practices. Reports can be provided to you as a client on a regular basis.
Budgets are important to all businesses. A regular meeting can help you to consider budgeting both sales and expenses. In my experience even a very basic budget can be an eye opener to a business owner/manager if they have not ever scrutinised the line items. Why not set a sales budget? Then your expenses can be tailored to suit – cut the fat out!