With a skilled Bookkeeper at your side you can stop worrying about where your money is going and focus on building your small business.
Inside the bookkeeping duties lie several areas specific to small business growth. In addition to looking after accounts receivable and payable it is important that your Bookkeeper is assisting you on the movement of your cash flows into and out of the business. With solid tracking you can improve cash flow, lower receivables, manage payment times and reduce bad debt accounts.
The 7 Cash Drivers – all areas a Bookkeeper can help you with:
- Trade Debtors
- Costs of Goods Sold
- Trade Creditors
Once this information is being recorded in your accounting package your Bookkeeper should be assisting you in measuring your business to control the 7 cash drivers of business. It’s amazing how small movement in any of the above areas can have a massive impact on your business.
Make sure you are comparing the movement (up and down) of these drivers from period to period in order to drive your business towards your goals.