Reports to show your sales totals month by month can be a good starting point. How was this summer compared to last summer? Which month of the year generates the most sales for us? Is it the same month each year? All these questions can be answered once the bookkeeping is running well and the reports are accessed.
If you know which months are the busiest, you can start to plan around this - extra staff, extra advertising, reducing holidays for employees during the busy times. Just this one review of the numbers can help you plan and make better choices going forward.
Higher sales doesn't always mean higher profits - which months have more expenses and costs? Have any of the costs increased since last year and how is this affecting the profits? Running a report to show monthly profits can be helpful in tracking whether the profits are increasing or reducing over time. Running a report to show the profit and loss for this year compared with last year can help you see whether the end result is likely to be the same by the time you reach the year end.
Up to date bookkeeping means these reports are ready to be viewed DURING the year rather than just at the year end once the accountant has had time to get them processed. Often by the time the accountant has had time to process the year end, you are already 6 months through the following year - you need up to date figures to steer the ship and this is where bookkeeping is so important.
There are other numbers which a bookkeeper can help you track. How many hits are you getting on your website? Do you have unanswered emails building up that need to be replied to? What is the average amount you receive from each customer? Who are your top ten regular customers and how can you reward them? Once you have someone to help you pull information together, they may be able to spot trends in the way you run day to day which are holding back your business success.
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St Neots,
Cambridgeshire,
PE19 7LX
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Registered in England and Wales - Registered Office: Staple House 5, Eleanors Cross, Dunstable, Bedfordshire, England, LU6 1SU
Excellent bookkeeping service and knowledge of the work. We recommend this firm if you are looking for a bookkeeper,
Phil Bass, Dunstable
Outstanding! BWBPS sorted out my books then provided me with the support and training I needed to get everything up to date and back on track. Friendly, professional service which I would highly recommend.
Cake Company St Neots
BW Bookkeeping is a breath of fresh air in the accounting sector. Supporting our businesses with skill and focus. Allowing management to to run the day to day projects and not be snowed under with delivery notes , wages and tax. The suggestions and input Jen and the team have implemented over our company are simple but brilliant as all the best ideas are. We love collaboration with BW Bookkeeping to support us in, not only running the day to day company but also building our buisness.
Joseph Walsh, St Neots