Do You Check the Overall Health of Your Business?

1. What do you do if you had some health issues? You would get a health check-up, including CBC, CT scan, MRI, etc., right?
2. Do you handle your business in the same way as your health?

Here are quick steps to manage your business’s health:

1. The first and foremost thing is to prepare Profit and Loss, Balance Sheet and Cash Flow statements on monthly basis.
2. The above can be done only if you are maintaining your accounts on daily/ weekly/ monthly basis depending on size of the company.
3. Currently, there are several applications available in the market such as Xero, FreeAgent, Kashflow that make accounting easier.
4. Once you have done accounting and reconciled bank, you can extract Balance Sheet, Profit and Loss Account, and Cash Flow using any of the above software.
5. You can then analyze several ratios including Net Profit, Inventory Turnover, Current Ratio, Acid Test Ratio, Debt to Equity Ratio, etc. to determine the health of your business.
6. Once you know the health of your business, you may then strategize remedial actions to achieve the desired results and make your business stronger. Also, running the business will turn out to be fun, indeed.

Happy Accounting!

Corient helps, manages the accounting department of the business houses by providing Bookkeeping, Payroll and other services on a real-time basis on various softwares including Xero, SageOne, Quickbooks, FreeAgent, Kashflow, Xero Workpapers. Our accounting services help the businesses to take the right decision and ensure their growth through accurate and timely financial data.

If you need any free consultation on how you can increase revenue by adding service lines, please feel free to get in touch with us: info@corientbs.com

Visit us at : http://www.corientbs.co.uk

FacebookwitterGoogle+WhatsAppShare

                     

Book Keeping- Way to Increase Revenue and Help Business Grow

The advent of internet and continuous market disruption (caused due to technological evolutions and alternative product lines) is compelling the business houses to look out for help. Never before in history have businesses required so much external help as today.

The accounting industry is on the cusp of making significant contribution to the economic growth through better management of Tax Compliances and by helping businesses proactively to become more financially strong and robust.

An accountant can help businesses in several ways, including the following:

• Review financials on more frequent basis and advise clients accordingly
• Advise opportunities to the clients that can increase revenue and reduce costs
• Introduce clients to other clients for healthy business tie-ups
• Suggest the ways to reduce work capital gap, cash flow problems, etc
• Restructure funding arrangements to reduce cost of finance and improve the credit ratings

The best ways to help clients improve their businesses is assisting them with financial analysis, monthly/quarterly bookkeeping, and recommending them the right course action.

With Xero, Quickbooks Online, Kashflow, Sage One, and FreeAgent bookkeeping can be done quite easily and quickly. Application of these Bookkeeping softwares will eliminate the possibilities of accounting errors as well as save huge amount of time at the end of financial year.

Proper bookkeeping will further increase revenue, reduce your cost of year-end preparation, and take your business to next level of success. It is quite a win-win game for all.

Corient offers accounting services to the businesses and manages their back office by providing Book Keeping, Payroll, Year End on a real time basis on various softwares including Xero, SageOne, Quickbooks, FreeAgent, Kashflow, Xero Workpapers, IRIS, Digita. Our cost-effective services help accountants to take on additional work and significantly increase revenue without hiring or training the team.

Please feel free to get in touch with us if you need any free consultation on how you can increase revenue by adding service lines.

If you need any free consultation on how you can increase revenue by adding service lines, please feel free to get in touch with us: info@corientbs.com

visit us at : http://www.corientbs.co.uk