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.
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.
Cloud accounting software is often sold as being everything you need, easy to use, do it yourself etc.
Well so is a Delia Smith cookery book – and you really don’t want to see my attempt at a soufflé!
If you take care of the “proof of profit” cycle then you will consistently make the profits you should.
Increasing your profit margins results in higher profits and improved cashflow. It’s so beneficial and simple to put in to practice – start making your changes today
You probably can’t rely on your bank to save the day so it’s down to you
