Enhanced system commences with bookkeeping
Business Advisory Services Update
The logical place to commence the 52-Week Business Enhancement System for SMEs is a full review of the bookkeeping system.
Why?
Most SMEs will benefit by receiving a regular “daily business report” to assist them in the management of the business.
A sample of daily information for a retail business could include:
- Sales for the day
- Average sale for the day
- Number of customers
- Banking for the day
- Payments for the day
- Cash at bank
Daily update: In this section, the preparer could comment on any unusual or newsworthy event that occurred that day. This way, the owner/CEO is kept informed of what has happened in the day’s activities.
Some businesses will need more information. You could discuss this with your client and introduce the additional information that your client would like to receive in the “diary business report”.
This is the first rung of a Business Information System to assist your SME clients to survive and prosper during the challenges of 2023.
The “daily business report” should be summarised in a comparison document, so that it is very easy for the owner/CEO to review how this day’s data compares with prior days.
This is emphasising to the accounting/bookkeeping team and the SMEs team that all information is required promptly, so that it can be analysed by management who will then be in a position to make any changes that they deem necessary.
Bookkeeping is the first step within the 52-Week Business Enhancement System that has been developed by ESS BIZTOOLS, to assist Accountants/Bookkeepers to implement financial systems which will contribute to the success of SMEs.
If you would like more information please visit our website www.essbiztools.com.au, or call us on 1800 232 088 to arrange for a complimentary initial consultation via Zoom.
