Tag: freelance bookkeeper

Know your numbers, don’t get lost in the fog

The technology doesn’t change the essentials and there is a real danger that businesses can get so caught up in the “how”, the graphs and the apps that they forget the real point of why they want the numbers in the first place.

There’s a lot of marketing noise about how rapidly technology is changing the way accounting gets done.

We know. We’re completely in the cloud and it makes a big difference to our clients and us.

But the technology doesn’t change the essentials and there is a real danger that businesses can get so caught up in the “how”, the graphs and the apps that they forget the real point of why they want the numbers in the first place.

Too many businesses are lost in the fog.

Five financial essentials

If you’re running a business can you answer these five questions?

  1. How is your business performing?
  2. How could it perform better?
  3. Who owes you money?
  4. Who do you owe money to?
  5. What is your cashflow like?

You need reliable answers to these questions to be readily available.

If you don’t have them then something needs to change.

Accounting software

It might be a software issue – we still see sizeable businesses running their accounts in spreadsheets.

Get some proper accounting software – there’s a lot of it about!

It might be a software issue – you’ve bought the software, they said it was easy to use, just like riding a bike, but actually no-one in your company knows how to use it properly.

Get some training!

Accountants

You might have accounting staff or a freelance bookkeeper, it’s quite likely you have an external accountant. But you’re still lost in the fog!

Change the people – improve them or lose them!

An MD’s cry from the heart

We’re working with an MD. She has a decent business, two or three staff, happy clients, made it through some difficult times and wants to kick on. She rang me because she doesn’t have reliable numbers and doesn’t know what to do.

In her case the bookkeeping has been poor and the accountants (gold medalists at non-responding) have barely shown up to make things right.

At least in this case the MD knew she was lost in the fog; we fixed it for her and gave her the clarity and peace of mind she was looking for.

How about you?

Let the fog clear – give me a call on 020 7125 0270

Michael

Related links:

Management information

Is my accounting any good?

Set up an accounts calendar for your business

Outsourced accounting – the way of the world

Outsourced accounting has been with us for many years, at all levels from the freelance bookkeeper to the interim Finance Director. No change there, but technology is making outsourced accounting much easier to buy and to deliver.

Outsourced accounting has been with us for many years, at all levels from the freelance bookkeeper to the interim Finance Director.

No change there, but technology is making outsourced accounting much easier to buy and to deliver.

All of which has to be good for businesses of all shapes and sizes

There are two big drivers for this change.

Apps put the buyer and the supplier in touch and make the process familiar to all

Everyone is taking advantage of apps to buy services on demand. Taxis, cleaners, dog walkers, gift-buying and wrapping, take-away meals – the arrival of apps is simply making the purchase of these services easier and more prevalent.

It’s not just buying the service that is made easier, what makes the delivery of these services much better is that technology also connects the suppliers to the buyers in a more useful and visible way.

The bottom line is that individual service providers and freelancers can connect through apps and websites with individual buyers much more readily, with lower transaction costs, and vibrant, growing markets for services are created.

Cloud software means outsourced accounting can be done anywhere, anytime

It is not just cloud accounting software that can be anywhere, it is the transactions as well.

A typical client of ours will upload transactions such as receipts, invoices and bank statements into services such as Dext or AutoEntry and our guys will access these transactions and do the bookkeeping wherever they may be – at home, in our office, at the client’s premises. They can do it at any time of day as well.

Flexible working is just one more benefit.

Outsourced accounting – easier to buy, easier to deliver

Technology is making it easier to buy services when and where they are required, making people more familiar with the process and more trusting of the services they buy.

Technology is also making delivery of outsourced accounting services more flexible, paperless and client-centric. It’s increases value for money as well by lowering costs and increasing competition.

Are you taking advantage of outsourced accounting?

If you would like to find out more, please give me a call – 020 7125 0270 or email me at info@bluedotconsulting.co.uk

Michael – @bluedotmichael

Related links:

Outsource your accounting and bookkeeping

Proof of Profit

How good are your management accounts?

Blue Dot Consulting Limited