Gardening tips can help your business grow says accountant Rosalind
Looking after the figures will keep your business in good shape
It’s the time of year when many of us turn our thoughts to tackling the garden in a bid to tidy up after the ravages of winter.
Among the usual chores of the season are clearing up all those dead leaves and plants and pruning those shrubs, trees and flowers that need attention.
Accountant Rosalind Woollard reckons many small and medium firms could apply the same principles to their book-keeping.
She said: “As we come out of winter, a good topical tip is to do a bit of weeding and pruning of sales and purchase ledgers,
“This is particularly appropriate for those of us coming up to a year end.
“From corner shops to businesses with a multi-million pound turnover, the accurate keeping of records is vital.
“Whether sales and purchase ledgers are produced on an informal basis, or run on the latest financial software, now is the time to clear all the out-of-date material because this will help improve organisation and encourage growth.
“Keeping up to date with receipts and payments will help you to stay in control of your business finances.
Maintaining accurate sales ledger reconciliation will ensure that all sales have been correctly recorded, that all cash takings have reconciled back to bank deposits and any outstanding debtors or slow payers are duly chased and collected.
She said: “It is important to ensure that accounts are tidy, correctly allocated and well managed.
“The same principles of pruning apply when it comes to customer lists.
“Customers are the most important part of any business so it’s important to update their contact details and weed out obsolete records.
“This also presents a good opportunity to to get a clearer picture of the ideal customer profile allowing a business to concentrate on the most appropriate target clients.
“This is a good time of year to review financial systems – from costs and overheads to general business efficiency.”
Rosalind’s clients include local tradesmen and women and a range of family-owned businesses.
Rosalind said: “What we offer is accountancy with a personal and friendly face.
“We handle all aspects of accounting from book-keeping and payroll, through VAT and quarterly accounts to preparing annual returns.
“One of our main areas of expertise is helping clients establish a book-keeping system that suits them, keeping processes as simple as possible and saving costs.”