How to Health Check your Accounts

Why do a Health Check? Outsourcing your bookkeeping makes sense. It enables you to spend time doing the important work of developing your business and ensuring that you are not overwhelmed by “the Bookkeeping Monster”. However, this is your business and you are ultimately responsible for its health. One of the most dangerous things you can do is abdicate this responsibility to your bookkeeper. You have all heard the old…  Read more

More Tips to Help Make your Business a Lean, Mean Fighting Machine

Customers Watch out for credit-worthiness of customers.  If you are a service based business, try to get up front deposits and progress payments.  If you are a product based business, check previous payment history of your big customers and negotiate better payment terms from them. Stock Closely monitor stock requirements.  Check sales figures  for trends and allow for some decline in sales compared to previous periods.  Don’t get sucked into…  Read more

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