You would think that the part of the business that represents the whole point of being there, i.e. Money, would be the top priority for management but instead is the top reason for failure. Poor financial control.
Many viable businesses have failed due to poor financial control. It is THE most important function the owner manager must get right in the business.
We don’t all understand finances and don’t have the time to learn but need a managed and controlled system nevertheless to give life, confidence and credibility to the business.
Statutory accounts are relatively pointless for this since they are not meaningful and are available far too late to do anything constructive. Bookkeeping is the minimum prerequisite for any business but it is not financial control as it ticks only the minimum of boxes.
Full Financial control is not reserved for big business it is available to the smallest of business and provides Budgeting, Forecasting, Funding, Credit control, Costing along with all the day to day ledger management of receivables, payables, expenses through Payroll to HMRC compliance.
It should be effortless, matter of fact and driven as a bi-product of the core activity. It should complement the Management Information systems, Benefits from the Business Process and Systems, Inform the Business Planning and Underpin the Business Viability.
Of the clients that we have helped in this area not one of them had a single accounting qualification working in the business yet they manage the function as well as any large business.
Our clients Accountants benefit because they get to provide the high-level finance and tax advice for which they trained rather than add up bills from shoeboxes.
Experience the benefits of expertly managed in-house financial control systems irrespective of your level of financial prowess.
Get your business finances under your control now, call us