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Lack of Financial Control

The lack of financial control manifests itself in a number of ways:

  • Spending is out of control.
  • No visibility of cash flow.
  • Payment of suppliers is haphazard. There is no planned and controlled payment schedule for suppliers.
  • Not accurately knowing how much your customers owe you and when it is due.
  • No effective credit control.
  • Not knowing how much profit the business has made or lost!
  • Not having the information needed to analyse which customers or products/services generate the most sales and contribute the most to profit.
  • Not being able to analyse costs and initiate cost reduction initiatives.
  • Late submissions of accounts/Vat returns/PAYE returns often resulting in fines and penalties.
  • Higher end of year accountancy fees as their cost is time based. If there is a mess to unravel more time will need to be spent on the accounts and hence the higher cost.

Amel (UK) can offer a solution to each of these problems. We will recommend a good accounting system which will give you back the financial control that you need for your business.
 

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