Do you have Reliable Information to Monitor your Business?

Do you have Reliable Information to Monitor your Business?

A business owner may have a variety of measures they use to monitor the progress of the business on a monthly basis. While some might be happy to use the closing
bank balance at month end as a guide, we would recommend that you have a
system to monitor:
 Total sales for the month – How does this compare
to previous months or any forecast completed?
 Direct costs, including purchases and wages – Are these in line with expectations based on the sales
for the month?
 The overall gross profit and gross margin – Is this
consistent, improving or deteriorating?
 Accounts Receivable – What level of receivables is over 30 days old? Is a system in place to follow
them up?
 Accounts Payable – Are invoices paid by due date? If not, is
the situation improving or getting worse?
 Overall profit earned for the month – What is the profit? Is this as expected? Is the profit enough to cover loan payments, drawings, tax and asset purchases?
If you would like to put in a monthly reporting system we are able to assist with this,
either by completing adequate reports for you or showing you how you can find this information in your current accounting system. If your current reporting system produces profit and loss reports we can also review this with you to help you understand how your business is progressing.
Contact us to discuss how we can assist.

Wednesday, 8th November 2017


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"I was very pleased to have taken up David's offer of a business planning session.
The outcome was a clear set of business goals for growing Leisureline Clothing and the specific actions needed to achieve that growth.
All aspects of my business were covered in a practical and realistic manner, covering a number of areas including sales, marketing, financial requirements, operations and staff.
I now have an uncomplicated plan as a useful guide to preparing for the future and delivering growth.
Any business owner who takes the opportunity to use David's business planning skills is sure to get real benefit from it.
David's open sharing of knowledge combined with genuine and trustworthy personal service and support, sets him apart from the pack."

 
Graeme Dick, Director
LEISURELINE CLOTHING LTD
 
 
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