We want take away the stress of dealing with piles of paperwork, so that you can smile, and concentrate on running your business
Go-Accounts.co.uk, are a new kind of Accountants, we specialise in providing accountancy services, tax returns, payroll, and bookkeeping to small businesses. We believe that a business owner should concentrate on running their business, and not let paperwork, bookkeeping and government forms get in the way.
But you need to know the financial position of your business - Today , not 12 months ago! which is why we specialise in delivering a monthly service to our clients.
Our monthly service at an affordable fixed fee, helps with the cashflow and lets you focus on running your business, and make those important decisions based on upto date information.
"Accounting is the language of business. If you can't speak the language then you shouldn't play the game"
I often get this question: "What is the most common mistake business owners make when they are growing their business?"
While I could say it is not setting goals, planning their time or doing enough sales and marketing, the true factor must be the lack of financial understanding.
Businesses go bust because they run out of money. Even the most badly run business will survive if it has a constant supply of cash. I have come across businesses run by people who have never taken a penny out of it for themselves - relying instead on investments, family or, worse still - borrowings to fund their personal life. The worrying thing is that they have no idea of their financial status so they continue doing the same old thing.
Even good businesses that make profits can fall prey to Cashflow problems when they start to over trade. Overtrading is where the sales of a company are increasing but the money from the sales comes in slower than the money goes out to pay the suppliers. When the money runs out the business cannot continue even though it has plenty of sales.
Not all factors are a result of the business itself. We are currently in a time when our customers are finding it tough and if they are unable to continue they may well leave us with an unpaid (bad) debt that can have a serious impact on our own business.
So how can we reduce the risk of our business failing because of these factors? Well the simple truth is that we need to know our numbers!
There are 6 key items you need to understand and look at on a regular basis - at least monthly. (For some businesses, this could be more often such as weekly or even daily.)
1. Profit & Loss account - Key to monitoring your sales, costs, and profit margins for the period.
2. Balance Sheet - A snap shot of the business showing where the money invested in the business is at any point in time.
3. Cashflow Forecast - A week-by-week projection of the flow of cash in and out of the business.
4. Aged Debtors & Creditors - How much you are owed and owe and how many days they are outstanding.
5. Budget - Prepared once a year and reviewed monthly, to ensure that costs are kept in check and sales are meeting targets. 6. Key Performance Indicators (KPIs) - KPI's that are specific to your business are the pulse that tell you how fit you are. They can cover any aspect of the business from the number of leads coming in, the rate of conversion into customers, right through to wastage and down time.
There should be no embarrassment going to ask for help to understand your financials - after all if you did not know the rules of golf, you would have no problem asking somebody for help learning them.
The only embarrassment is if your business fails because you misread your score.
Go-Accounts uk offers an out-sourced accounts department for the SME market. (Small to Medium sized Enterprises) The staff and managers Of Go Accounts have all previously worked in traditional firms of Accountants, we bring with us many years of relevent experience, plus we have a desire to offer a new type of accounting service - focused on small owner managed business, providing a good all round service at an exceptionally competitive price. We know you will be able to find cheaper service, but we also know that you will not get a better service for the price we charge.
Find Out about our Accountants Services for Contractors and freelancers
Go Accounts, Business Accountants, Accounting Services, Bookkeeping, Year end Accounts, Self Assessment Tax, Management accounts,Payroll, PAYE year end, Tax returns, VAT registration and returns, Company Formations.The Full Accountancy Service,Online, or by Post,Fax or E-mail. Accounts to Go Our offices are at 83 Friar Gate, Derby, Derbyshire, East Midlands DE1 1FL