How knowing your figures can help your business

It is easy to get too busy to stop and look at the reports or figures in detail and this can be a mistake.

Written by BW Bookkeeping and Project Solutions Ltd - Thu 18th Jan 2024

bookkeeping and business development services

In the past few months we have worked with one client who was surprised by the results shown in the 'Top 10 customers' report we ran for them.  People are often surprised that a customer who they thought was profitable has reduced their orders over time without the business owner realising.  It can be worthwhile tracking which customers are ordering the most as it can indicate who should receive GOLD SERVICE or who to prioritise in busy seasons.

We had another client who wanted to know what their breakeven figure was so that they knew what their sales targets needed to be and what level of profit needed to be built into their quotes to make sure the wages and expenses were going to be covered.  In this difficult economic time with costs rising almost weekly, keeping an eye on margins is important.

One of our clients keeps a close eye on cashflow each month, to make sure their plans for the next 12 months will work out.  Knowing that some months are always low on sales and that the taxes need to be paid periodically can make the cashflow forecasting more accurate so that the business doesn't run out of funds.

If you would like to read more about the benefits of monitoring cashflow, Quickbooks have some information.

Click to read about cashflow on QB

BW Bookkeeping and Project Solutions Ltd.

Suite C,
Birch House,
Almond Road,
St Neots,
Cambridgeshire,
PE19 1DZ

07825 152951

jen@bwbps.co.uk

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Company Number 13495928
VAT No. 450467105
Registered in England and Wales - Registered Office: Staple House 5, Eleanors Cross, Dunstable, Bedfordshire, England, LU6 1SU

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I learned more about how to direct my business in 20 minutes talking to Jen at BW Bookkeeping than in 4 years of meetings with my accountant.
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I have never used a bookkeeper before so I was a bit apprehensive. Working with BW has been the best decision we have made recently. I knew we needed help with behind the scenes work and this has been a real relief.
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