Many good businesses run into trouble due to poor financial management.  The sad part of this is that many of these businesses would survive and probably flourish if management had a better understanding of their accounts.  Your company’s performance in the following key areas should be reviewed monthly;

·         Turnover

·         Gross Margin

·         Product Contribution

·         Net Profit

·         Stock Days

·         Debtors Days

·         Creditor Days

·         Net Cash Inflow/Outflow

·         Budget Variance

Well organised businesses review these numbers shortly after the close of a financial period which is normally monthly.  Larger businesses obviously have the advantage of having full-time accounting staff to prepare these numbers for management to review but the value of such information is worth the investment.  RPJ Accountancy can provide your business with this valuable service on a part-time basis from as little as £200 per month.   Don’t wait until it’s too late to improve your financial management.