Better Financial Information
Businesses need to know how they are performing to be able to make key decisions that will affect their future. So ask yourself these questions:
- How much money do you have in the bank?
- Who owes you money, and how old are these debts?
- Who do you owe money to, and when will this be have to be paid?
And if you're comfortable with the answers to those questions, now ask yourself:
- How much profit is each part of your business making on a month by month basis?
- Who are your largest customers?
- Who are your most profitable customers?
- Are any customers making significant changes in their purchasing patterns?
- How is your business performing compared to forecasts for the year?
- What is your gross profit percentage?
- What is your net profit percentage?
- How much stock are you holding and how fast is it moving?
- Are any products or services becoming obsolete?
- How much is it costing you to acquire new customers?
As your business grows and becomes more complex, your accounting and reporting systems need to reflect these changes. The systems you put in place when you started the business may not be able to cope with your current or future needs. And your "key performance indicators", the main drivers of your business, will probably evolve over time.
We can help you by reviewing and improving your accounting systems, to provide you with important information presented to you in an easy-to-read format that allows you to see what is happening in your business. The changes we suggest may involve better utilisation of your current systems, but if we feel that your system can't cope with the medium-term needs of the business we'll tell you so, and will investigate alternatives for you.
Whatever options are agreed, we can then help you and your staff to implement the new system. This may include organising training, writing a procedures manual and developing reports.
If you would like to discuss whether we may be able to help you, please CONTACT US to arrange a free, no obligation meeting.