Organizing the finances of the company is one of the fundamental tasks to guarantee its sustainability. You can even close many deals and achieve excellent billing, but much of it is lost if there is a lack of financial organization.
So pay close attention to the tips below, which will balance the finances of your business and instead of hinder your outcome, will help you to improve it constantly.
1. Learn about the most important points in finance
If you do not master the main concepts about corporate finance, you will hardly know where your business is going. So, if you lack fundamental knowledge in financial management, learn them.
If resources are not enough to take short courses and learn the basics for financial management, use the internet to your advantage: It has excellent free learning tools like videos and corporate blogs that produce vast and important information.
So take note of the key things you need to learn to control, such as:
- Cash Flow : Obtaining balance control, inflows and outflows from your cashier will allow you to schedule your payments to suppliers and honor commitments without delay;
- Statement of Income for the Year: The DRE allows the financial and operational management of your company and is often a requirement for granting bank credit;
- Balance Sheet: Know your assets and liabilities to measure the equity of your company and guarantee liquidity;
- Inventory Control: Size the operational flow of your business by properly scaling your inventory. Remember that a large stock is not a guarantee of many trades – products on the shelf means stagnant money and loss of opportunity.
Also, add knowledge of the taxes due , the tax regimes in your area and everything else you consider relevant for effective financial management.
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2. Get basic resources to organize yourself
Organization requires investment, but this does not always entail large expenditures. You can start to organize your company finances through spreadsheets and subsequently invest in a management system appropriate to the size of your business.
It is not feasible to keep your organization in a drawer, with accumulation of notes and papers that will certainly disrupt and disrupt your financial control.
You can find great features like spreadsheets and low cost management systems on sites like:
http://www.luz.vc (Miscellaneous worksheets for management)
http://www.contaazul.com (Excellent business management system for SMEs)
http://www.zeropaper.com.br (Low cost financial control system)
3. Maintain control discipline
Once you have chosen the features to use to organize your business finances, remember to keep them updated.
Postponing updates or failing to record entry and exit of resources, obligations, and commitments will make all your controls lose their usefulness.
Also, remember the basic premise required to run any business: separate your personal accounts from company accounts.
4. Prioritize the discharge of your debts
Now that you have organized the record of all financial transactions, focus on minimizing your liabilities. Once you put all your debts on paper, it will be easy to scale them.
Begin by prioritizing the most expensive debts; and by “more expensive”, understand that these are the ones that have higher interest rates. Credit cards, overdrafts and some types of loans or financing may be taking away much of your results.
5. Identify your expenses
It is also imperative to know what your resources are being spent on. The cost of purchasing and manufacturing products, office expenses, the value of each employee for the company; all of this should be clear and organized so that you identify process improvement points and know where you need to take action to reduce costs .
6. Invest in strategic areas
Once you pay your dues, it’s time to start investing in your company. To ensure the sustainability of any business, you must allocate part of your results to reinvest internally.
Among the strategic areas for this, consider as main the professional qualification of its personnel and the marketing, always fundamental for good results.
Remember to track the return on these investments through such indicators as ROI. With it you analyze the results and plan your next actions.
By following these tips and organizing the company’s finances, you have already taken a big step in improving your financial management. Did you like the article? Leave your comment in the post!
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