ABC….. Advice from Numerical
It’s hard work being at the top of your game/business. Juggling the demands on your time especially when it comes to budgeting and ensuring there’s enough cash flow, as well as fitting in those all-important meetings or developing your business.
Time and time again, business owners find that juggling their finances eats up too much of their time when they would rather focus on the creative side.
Use a Cloud Accounting system like Xero to forecast your income and expenditure. In Xero the dashboard will show you who you owe money to and more importantly who owes you money.
Numerical would say “it’s crucial to be cautious when forecasting you’ve got to factor in the unexpected and allow yourself a lot of room for variance,”
Finding affordable and flexible funding is crucial, and it’s imperative that you find the right kind of finance for your specific use and remember to set your budget. Allow Numerical to set your budgets within Xero and monitor the variances making sure you don’t over spend.
It’s important to build some cash reserves in preparation for the more uncertain times ahead. Businesses who plan ahead will benefit from the increased financial flexibility and ability to look at opportunities that their competitors may now be shying away from. Another tip is to set up separate accounts for your VAT and TAX commitments again doing this mean you won’t spend money you haven’t got.
Getting on top of your finances is crucial if you want your business to last for the long-haul. Seek appropriate advice, and making sure you have the right advice could go a long way.
Think about how you will get the business to a position where you can work on it and not in it. Don’t be afraid to delegate to those you trust to get the job done, right. Give Numerical access to your accounts and we can pay your supplies for you, write letters on your behalf and much more.
There are many bookkeepers out there, and you need to find one that fits your business. A good bookkeeper will adapt services to suit you – not the other way around. Outsource your Finance Department and let Numerical make it as simple as ABC……..