How can Sli£k Bookkeeping help run my business?

Most people in business will spend most of their working day doing jobs that they are confident and good at.

For example, a Plumber will spend the majority of his/her day undertaking plumbing jobs be it, fitting a radiator, repairing a water leak or fitting a complete heating system.

In contrast very few people in business will spend their working day doing jobs that they are not confident or good at. Even if these jobs are a vital part to the success or failure of the business

One such job that many business owners are not confident at undertaking and thus spend very little time doing is the 'business books'.

Many small business owners say that the 'business books' is a black art! And a job for the accountant. Please note that 'black art' jobs usually cost a lot of money, thus the reason why accountants usually present their clients with a hefty bill for work undertaken.

So, business owners that leave their 'business books' to the annual accountant route usually result in the business owner presenting a carry-a-bag of receipts, bank statements, invoice books and cash books together with any other requested documentation to his/her accountant sometime after the end of the business year.

At this point in time the business owner has no idea of how much profit the business has made, if any at all. How much tax has to be paid. If the decision to purchase a new van for the business was correct. The owner is in the dark, resulting in many sleepless nights and being at the mercy of the accountant.

Does this scenario ring any bells?

The accountant then paws over the fore mentioned business documentation and usually generates a set of accounts. At this point, and this could be months after the end of the business financial year, the business owner will find out the most important question that all business owners need to know:

Have I made any money? And if so how much?

Of course the worst case scenario could be that the business owner has worked extremely hard all year but does not have money in the bank to meet any tax liability and any other financial obligations.

Doing something to rectify the situation after the end of the business financial year is not an option unless the business owner has access to a time machine that will allow one to go back in time.

This scenario is real and not uncommon for the small business operator. Being busy and working hard and for long hours are not profit making indicators. Working smart, buying right, controlling costs, eliminating waste and managing cash flow are some of the crucial factors involved in running a successful business.

But how is this achieved? By closely monitoring and regularly checking the basic aspects of COSTS v INCOME so that at the end of the financial year not only is the business in profit, but any tax liability is covered, any investment in new equipment can be financed and of course there is financial reward for the business owner.

This business monitoring and checking process is often done with spreadsheets, an absolute nightmare for most people and a non starter for others.

This problematic issue has now been turned into a 21st century simplistic task with the aid of the Sli£k Bookkeeping product range. The software has the ability to demonstrate precisely on a day to day, week to week, month to month, or for any period required, how your business is performing.

Linked with ease of use and understanding, the business owner who utilizes this software will not only find doing the 'business books' an easy task, he/she will now be able to steer the business in times of good and more importantly in times of bad.