KNOWING YOUR BUSINESS
For most people, keeping the accounting side of a business up-to-date is a dry, dusty, time-consuming chore. On the fact of it, "doing the books" doesn't seem like an exciting activity which is bringing money into the business and so it is regarded as a grudge expense, something that has to be done to keep the Receiver of Revenue and the Registrar of Companies satisfied.
Do you know how much profit your business is making?
Do you know what your monthly turnover is?
Do you know how much to budget for extra stock over the holidays?
Do you know what your overdraft is costing you?
Have you made allowances for tax payments?
Can your business afford to expand?
Do you really know what's going on in your business?