“You can’t run a £1m business and only have your bookkeeping updated every three months!”
There are things you say in meetings that you can’t quite believe needed saying, and that was one of them.
The context was a Xero training session with two people from the business and we were looking at their Xero file alongside a couple of other software applications.
Several common problems crawled out of the woodwork:
- the bookkeeping was way out of date
- historical balance sheets in Xero didn’t agree to Companies House
- no customised reports (who wants an alphabetical list of overheads!)
- the business was hemmed-in by mainly using the accounts in the standard chart of accounts
We all knew there would be more if we dug a little deeper.
And we all knew that this business was not alone in having great software used poorly.
Your accounting records are not up to date – why this matters
If you have incomplete or inaccurate bookkeeping data you’re flying blind and your business will under-perform.
- Decision-making will be delayed or based on faulty information
- Cashflow and tax shocks are more likely to happen
- Profitability will suffer
- It’s often more expensive to do this work badly
- Running your business will be less enjoyable and more stressful
Fair play to the two people who had got in touch because they knew something wasn’t right and were reaching out for help.
And help was at hand.
Blue Dot Consulting can help you get more from your accounting software
You’re already using decent accounting software, such as Xero, QuickBooks or FreeAgent. We want to make it come alive for you and here’s how:
- Bespoke training for your team using your actual data and transactions (Xero, QuickBooks)
- Review and fix your current bookkeeping so it accurately reflects your business
- Create custom reports so you see the numbers that matter
- Offer ongoing help and advice so you’re not left alone
Our goal is simple: transform your accounting software into a decision-making tool, not just a digital filing cabinet.
And the real benefits for your business will include:
- Decision-making based on facts, not guesswork
- Profitability insights by product, service, or client
- Better cashflow visibility and planning
- Reduced stress and greater control
Can we help your business get more from its accounting software?
If you suspect your business isn’t getting the full benefit of its accounting software, let’s have a chat.
We’ll take a look at what’s working (and what isn’t), and give you practical, jargon-free advice to move things forward.
We run great bespoke training sessions for businesses which might be an ideal starting point
Call Michael Austin on 020 7125 0270 or email info@bluedotconsulting.co.uk and let’s begin to get your business to a better place.
Michael
People also asked:
Do we need to change our software?
No. The goal is to show your team how to make the best use of what you already have in place.
What about additional software and apps?
If you have bookkeeping issues that can be solved more efficiently by linking apps to your accounting software then we’ll look at that with you.
Do we need to change accountants?
Not at all. In fact they may have a part to play in the work that needs to be done.
Who are Blue Dot Consulting?
We’re London-based Chartered Accountants with a long and successful history of helping owner-managed SME business in London with their financial management..
Related links:
Overview of financial management for a business with sales approaching and passing £1m
Why don’t businesses make better use of accounting software?
Chartered Accountants – Bedford House, Fulham Green, London, SW6 3JW
