Your Bookkeeper Can Take Your Blindfold Off

If your business bookkeeping system is not up to date, you are running your business blind.

How can you make decisions without accurate financial information? How can you even begin to plan how to grow your business without current income and expense figures? You can't. Here is what is going on beyond that financial blindfold:

Income and expenses

It is terrifying to know that many business owners have no idea where their business is currently at. Many business owners approach us, bookkeepers at some point during the year (typically later in the year) as they get stuck with license renewal and investors refusing to fund. Even without that how can you make any financial business decisions without knowing your current financial state?

Cash flow

Cash flow is so important to a new business. Heck, cash flow is important to any business no matter how mature the company is. A very common problem is that a business is selling its product or service like crazy but they don't have any money in the bank. When we dig in and reveal the cause of the problem it always lies in accounts receivable which is the money they are yet to receive. Staying on top of invoicing and your accounts receivable will boost your cash flow and keep you in business.

As you can see there is a lot of valuable information behind your financial blindfold and they are all related to one another. This is getting long will talk about more stuff that your business can benefit from in our next newsletter.

Do you have any sort of #bookkeeping system in place?

Is your bookkeeping up to date and accurate?