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.
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.
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.
Make sure your accountant knows what they're doing because the best golfers don't have to use the latest clubs, but they do need to know how to play golf
Some time ago I posted a blog entitled “I can’t have the business I want…..because of the business I’ve got!” which concerned an owner-manager who had become trapped in his company by time-consuming, low-profit clients
This gives your business the best of both worlds - the senior financial input you need but without a full-time cost. It's a solution that an FD would be proud of!
It’s the old accounting nightmare – the client brings in their records in a carrier bag or shoe box, dumps it on the desk and says “Here you go – can you get my accounts
If your business can improve profitability the rewards include more money in the bank, a higher value for your business as well as greater peace of mind and the feeling of a job well done.