All of the cloud accounting software services go out of their way to make it look easy to use but it's accounting software, it contains things like VAT which you may not be an expert in.
No one is going to lend money to a business that doesn't have its own house in order. So if cashflow is tight, that's probably a very loud message that other parts of your business aren't performing well and you need to take action - NOW!
I list all the transactions in a spreadsheet and send it to my accountants. They do what they do and send it back to me but it’s always full of errors. So I end up checking my own work and I wonder what I’m paying them for!
Overwhelmed by accounting apps? Conquer your FoMO (fear of missing out) because by no means are they all useful.
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If ten of us in the audience got together to work this problem through we'd all get to a better place pretty quickly and have a good grasp of what works and what goes wrong when you deal with this topic in practice.
There’s no point having a client contract which either doesn’t make money or doesn’t pay you in good time. This doesn’t just apply to potential new business deals; it applies across your entire client base.
It's vital to have good bookkeeping taking place day-in, day-out using bespoke software and using the results to grow your profits and your businesses.
Many businesses will focus on sales as the key driver for success, but anyone can make a sale if the price is low enough. Profitable sales are more important than any sales.
The technology doesn't change the essentials and there is a real danger that businesses can get so caught up in the "how", the graphs and the apps that they forget the real point of why they want the numbers in the first place.