Have you checked your financial reports lately?
I was recently reading a study on business failure and was not surprised to read that the authors had identified that one of the most common reasons for business failure is financial management inexperience.
The study identified that 55% of business failures were caused by “inadequate, inaccurate or non-existent books and records”.
So how can business owners make sure that they don’t end up the same as the 55%? Get online….
Online accounting software like QuickBooks Online, Xero and Sage One make getting organised a cinch! Sharing data with your accountant has never been easier and allows them to keep a regular eye on you (because you need them to!).
With your financial records getting a regular look over by an experienced accountant, you may just end up like the other 45%!