12 Days Of Tipmas Day 1: Have A Monthly Plan And Process In Place For Your Accounts

We all know running a business can be time consuming and incredibly busy, which is why planning is an absolute must. Monthly plans and processes not only allow you to better visualise your business’ current state but also help to begin the development of future strategies.

Saving time

Monthly planning saves time- allowing you to focus on other important aspects of running your business. Providing a boost to your time management, having a plan in place prepares your business for upcoming spending as well as protecting you from falling behind on payments and expenditures.

Assessing progress

Apart from establishing a regime and saving time, monthly planning also allows you to assess your business’ financial health. You can examine what is working and what isn’t while getting to the root of any problems and identifying underlying issues with ease. It’s a fantastic tool for business growth as well as budget and forecasts comparisons.

A monthly business plan might include:

•  A cashflow statement

• An income and expenditure statement.

• A sales forecast

• A balance sheet

If you’d like to find out more about how we can help your business with cashflow management, please get in touch: 

E: makeithappen@mbsmih.com T: 01903 688789. 

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