Got your accounts late again?
This is something I would urge you to address…
…because speed matters!
If you are getting your accounts months after your year end, you are missing out on some WHOPPING benefits which have a significant impact on you and your business…
Here are five of the most important:
1. You SAVE TAX or at least PAY THE MINIMUM tax necessary
Until you know what your profits are, you can’t work out your tax. You can’t look at how you can minimise your payments.
Simple we know. But one of your biggest overheads is your tax bill. The sooner you know how much it is going to be the better.
2. You can IMPROVE YOUR RESULTS
The sooner you get your financial results, the sooner you know where you stand. The sooner you know where you stand, the sooner you start taking action for a better coming year.
Delay your year-end accounts process and you could be halfway through the next year before you have a clear picture and before you resolve to make it better.
3. You have GREATER FINANCIAL CONTROL
Knowing early where your business stands and what your tax bill will be means you have lots of time to revise any projections or budgets you have made.
Plus it’s easier to start preparing your tax payments to minimise your cashflow challenges at the time of your tax bill.
4. You can IMPROVE YOUR NET PROFITS
Get your accounts quickly and you can start making decisions on important pricing, gross margin and net profit issues.
Wait til later in the year and you have wasted months on less profitable performance. Just because your accounts were late.
5. You can MAKE BETTER DECISIONS
Once you have your accounts, your accounts system can be updated.
The information you receive from your management accounts becomes more precise.
And you get to make informed decisions on these accurate figures.
So take a moment to consider:
- Does less tax to pay sound good?
- Would a higher income benefit you?
- Would you like to be free of financial stress?
- Would higher profits make a difference to you?
- Would greater confidence in decision-making help you
If your answer to these questions is ‘YES’ the NEXT question must be… why put up with late accounts?
You pay your accountant whether or not they are proactive and efficient in what they do. Make sure you invest in one who brings you all the above benefits.
Want to discuss how swift accounts will make a difference to you and your business? You are welcome to call the Clear Vision team on 01249 712074. We’ll gladly have an informal conversation with you.
Have experiences of speedy accounts and the benefits they bring you? Do share your comments in the box below.
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