You Want to Earn More Profit
With Calathea Accounting
You’re working long hours; your business is successful but you want to increase your profit (without increasing your workload!).
Does this sound like something you can relate to?
Here are 3 quick tips to ensure that you are maximising your profits.
Bookkeeping
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Your bookkeeping lays the foundation to your entire business. It needs to be done regularly (at the very least weekly) and by someone who is competent and highly skilled.
Errors in your bookkeeping can severely impact the figures that are projected throughout your accounts. Figures that you will be relying on week on week to give you instant decisions about an investment or plan you want to kick start.
You need someone highly trained and skilled to be responsible for your bookkeeping so that you can trust that its accurate and up to date.
Cashflow Planning
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What cashflow planning system do you have in place? This needs to be monitored regularly to give you insights into how well your business is performing and whether you are on track to achieving the goals that you’ve set.
From your cashflow forecast you can run what if scenarios to test your businesses strength and resilience against predicted events.
How long can your business survive with the cash you have saved in the bank and no other income?
Regular Review Sessions
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You need to be having regular review sessions with your Accountant to set goals and targets to get your business on track and heading in the direction that you want it to take.
As a minimum, these should be happening on a quarterly basis. These regular review sessions will ensure that areas of risk are dealt with quickly to minimise the damage to your business and ensure that the things that are going well, can be recognised and promoted.
