ABC, Easy As 1 2 3
All businesses should know the following important numbers every month;
1. Sales – always drive cashflow and profits
2. Profits – show if sales targets are being achieved and costs are being kept under control
3. Cash – vital, the lifeblood of your business, never run out of cash
Also, if appropriate to your business;
Debtors – who’s not paid you, do you need to improve your credit control, chase those debts and get the cash in
Stock – how much stock you hold, keep a close eye on stock levels, don’t have too much cash tied up in stock
If you keep your bookkeeping up to date, then the information is there, so why not use it to make your business better?
To discuss any of the above including how to improve the recordkeeping and the use of financial information in your business, please do not hesitate to get in touch.
We’d love to hear from you.