Are you aware of how much profit your business made last month? Dreading the VAT return because you have no idea how much you will owe?
Keeping on top of your accounts and finances is crucial to the success of your business. In an ever changing and fast moving economy your accounts need to 'keep up' with what's happening. We aren't talking six weeks ago either, we are talking right now, looking at how your finances are right now. With efficient, up to date accounts you will have the capability to financially run your business in absolute efficiency by being able to prepare short term forecasts and as a result often avoiding problems before it is too late.
For those businesses that are sitting on the break even line, short term cash flow problems are often the very thing that tips the company over the edge so being prepared for what’s ahead by constantly knowing exactly where you stand is even more important.
It can be very tempting if you are in a tight financial spot as a business to 'bury your head in the sand' away from your finances and accounts, but not knowing what to expect is essential even if the situation isn’t great. Knowing how your business is operating as it happens can make or break you; it is as simple as that.
Mneaccounting.co.uk 0116 255 2422