It’s a well known concept that effort equals reward…
To achieve in your chosen sport you must make an effort to train, prepare and compete…
To succeed in your chosen field of study or career you must make an effort to learn, apply yourself and accomplish…
To succeed in your chosen business you must make an effort to lead, engage and organise…and that includes organising your finances too!
In recent times, business owners have been inundated with information about accounting software packages, particularly those based in “the cloud” – and they all claim to save you time and money!
Guess what? They can…if you put the required effort into them!
I have had many conversations over the years with clients where we have discussed that the information you get out of your accounting package is only as good as the information you put into it – essentially meaning that you must have good processing systems in place, record accurate data and record the data correctly…if you want the reports you prepare to actually mean something!
I encourage each of you to have a think about the way your financial and accounting systems function, and ask yourself:
- Can you interpret your reports?
- Do you feel like you are continually handling mountains of paperwork?
- Does your accountant ask for lots of extra information and explanations at the end of each quarter or the end of the year?
- Do you have your information at your fingertips?
If you answered “no” to any of the questions above, contact The Tax Chic to arrange a consultation, you’d be surprised how a few tweaks to your processes can make them more effective.
Regards
