“Cooking the books”

“Cooking the books”

 

Cooking the books - or why accounts matter!

 

Whilst I don’t encourage following the usual definition of “cooking the books” (!) it’s essential that you have control over your enterprise by having access to up to date accounts and management information (and please bear in mind this article applies to non-profit making entities as well) :
 
Why do you need this information? Well, for a variety of reasons including:

 

As you will realise these are relevant to businesses whatever their size; so how do we do this easily and within budget? By a simple analysis of the business and then applying suitable systems that will deliver all of these (and probably more).
 
This may be by using some simple Excel spread sheets, perhaps by using more complex “off the shelf” software such as SAGE, QuickBooks or one of the relatively new online software packages.  The level of expense and sophistication required should be obvious from your business plan, but if this is an existing business, the systems should be tested to see if they are coping with the demands of the business but equally importantly if they are robust and flexible enough to deal with changes to the trading position.  

 
The costs associated with such systems can be pretty modest when compared to the benefits; but don't forget  to make allowance for appropriate training. Training should be seen as an investment and should prove to be a real asset to the business in the short medium and long term.
 
Many small and medium sized businesses buy in certain services such as book-keeping and payroll; if the business employs staff, then using the services of a payroll bureau such as that operated by Full Circle can produce both time and cost efficiencies. It will also ensure compliance with H M Revenue and Customs requirements and crucially allow you the business owner to get on with what you do best, rather than worry if, for example, a new employee’s P45 has been processed correctly. 
 
So for not a great expense in time or money you will have access to reliable and valuable information which will help you control and grow your business. 
 
Contact Full Circle to see how we might be able to improve your business. We have the skills and experience to help – contact us today.