Do You Have the Business Bookkeeping Blindfold?

bookkeeping system

When we talk about the bookkeeping blindfold, we are talking about those periods where you are not keeping your bookkeeping system updated and have no clear indication of where your business is thriving or suffering financially.

It is something that many business owners put on the backburner and start to run blind, allowing their business to lose focus for growth.

Outsourced bookkeeping services can help you take off the business blindfold and provide the answers to your business’s financial state. Without a firm grasp of your current income and expense figures, you cannot effectively grow your business. Here are some areas a bookkeeper can help you to see clearly.

Income and Expenses

You would be amazed at the number of clients a bookkeeper has that have little to no idea where their business sits without the guidance of their bookkeeper.

Many business owners choose to run blind and engage their bookkeeper only once a year, usually towards the end of the business year, to help with updating their books and pulling all of their information together. By not knowing the business’s current financial state, how can you be expected to make good, positive financial business decisions?

Cash Flow and Accounts Receivable

When you have a new business, cash flow is one of the most important life blood to it.

One of the biggest and most common problems for these types of businesses is that they break the bank by selling their product with very limited resources. The problem within that always tends to be within accounts receivable. Staying on top of your business invoicing and accounts receivable is key to boosting your cash flow and keeping your business running at a healthy level.

Forecasting

One of the biggest benefits your business has with an up-to-date bookkeeping system is the ability to put some financial forecasting in place – all thanks to updated income and expense figures and accounts receivable kept in line.

Without accurate books, forecasting is next to impossible to achieve. To have those books in an accurate state, you have to perform monthly account reconciliations. Forecasting is a must-have for businesses operating today, yet many businesses do not take advantage because they choose to fall so far behind and not have professional bookkeeping services in Manchester to handle their financials.

There is a lot of valuable information that a bookkeeper provides for your business, and if you do not have a bookkeeper in place, you can call the team at Pebbles Bookkeeping today to get yourself on the right track moving forward.

What our clients say…

Only The Brave have used Pebbles Bookkeeping for a few years now and we treat them instinctively like an integral department of our business.

I have worked with Sean for over two decades in my previous businesses and when Sean and Diane went on their own it was a no brainer to get them involved with our day to day accounting.

Pebbles manage our bookkeeping, expenses, credit control and PAYE and have a keen eye for detail and help us spot important financial matters before they become issues.

Their integrity and honesty are unquestionable and as a result, Pebbles are an asset to our business and will continue to work with us for many years to come.

Nick Aldrich, Only The Brave

Pebbles Bookkeeping took over our bookkeeping when a full-time member of staff left the business.  Our accounts are relatively complex for a business our size because of the number of different suppliers and products we deal with, but Pebbles were able to get quickly up to speed.  We have significantly reduced our costs spent on bookkeeping activity as a result. They have also helped us move to a new accounting system (Xero), which we are already seeing the benefit of, and we’re looking forward to working with Pebbles in the future to automate more of our back-office processes.

James Balderstone, Lucid Networks

“We began to relinquish our bookkeeping tasks to Pebbles Bookkeeping in September 2020, following our meeting with Diane Huxley to discuss our requirements. We signed up with Diane immediately. We have all built a quick rapport with Diane and it’s good to know that we have her support and expertise at the other end of the phone.

Pebbles Bookkeeping is a perfect fit for our company and liaises seamlessly with our accountant. It is our pleasure to work alongside them.”

TecCre8 Ltd

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