‘When properly maintained, online accounting software can provide you with real time access to your key account balances and customer debts, while allowing you to keep an eye on overheads,’ says Andrew Moss, partner at DSG Chartered Accountants. Switch to online accounting softwareĪs well as good financial reporting, handling your accounts online can help you get a better grip of your finances. Management reports (for reviewing your current balance sheet), debtor books, budgets and cash flow forecasts should be at your fingertips. Whatever your size of business, you should be routinely receiving a regular stream of data from your finance department. For that, you need accurate, up-to-date information. The first step to good cash flow management is to understand the ebb and flow of money through your business.
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