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Do you really know what is going on in your business? Do you know if you are profitable?

By October 6, 2019 April 24th, 2020 No Comments

We all know that keeping track of your business finances is not on the top of most business owners to do list! You may even have an accountant who takes care of everything for you, but do you really know what is going on in your bank account? Are you profitable? Or maybe you receive some great reports from your accountant … but do you know what they mean for you and your business?

We believe in helping small businesses to get to grips with those numbers. A simple activity such as writing down your income and expenses and what has happened in your business over the past few months can be a real eye opener! And we often find it is!

By identifying those hidden costs which get forgotten or adding up how much money you really made one month can have a huge impact on your business finances and your future decisions. It helps to identify if you are profitable and plan for those months which may be a little quieter.

Something this simple makes you stop and think. If you haven’t made as much as you thought, what can you do about it? We help clients to plan, look at ways of increasing profit and saving money on things that have maybe ran away with us!

Then comes cashflow! Most clients I deal with find this scary, ‘how do I know how much money I will make in 3 months?’. It can often be predicted far better than what you might think and imagine how much better you will feel if you had a plan and knew what numbers you were working to?! It helps to give you a goal, feel in control and plan for the next few months or even years. Another great tool we have at our disposal to teach you.

If you want to take back control and get to grips with what is happening in your business, get in touch to find out more about our ‘Know your numbers’ workshop!!

Enquiries@cedarhouseaccounting.co.uk

Tel: 01778 338049

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