Q is for Quick and Easy Tips to Level Up Your Small Business Finances Straight Away

Q is for Quick and Easy Tips to Level Up Your Small Business Finances Straight Away

Q is for Quick and easy tips to level up your small business finances straight away - A to Z Accountancy Top Tips

1.

Keep business and personal finances separate, if you are still using the same bank account for both go and change it now! This is so important so that you can clearly see the incomes and expenses for the business, and this is the same for your personal finances.

2.

Ensure you set aside savings for your taxes each month. If you use a banking app like Starling, there is a great function called Spaces where you can set money aside for anything you like. If you are using a challenger bank you can break the taxes down even further and set up spaces for each tax.

3.

Block out 30 minutes each week in your diary to organise, complete invoicing, upload your expenses. After you get into a weekly routine you may not even need to spend this much time on it. The more often you focus on your finances the easier you will find them and the more familiar you will be with them.

4.

Cashflow – if you’ve never even considered your cashflow, ask me for my basic template to get you started and thinking and take a look at the Cashflow blog. It will make a big difference to your business finances.

5.

Business plan – if you are always just feeling like you are winging it in your business and just getting by each month, then start thinking about your goals and how to get there. Your goals can be both personal and business so that you can build a plan that aligns all the goals together. Introduce the business plan and break down the action points to give yourself something to work towards.

If you want to level up your business finances and need some help with where to get started, please get in touch.

Thank you for reading this weeks blog – Q is for Quick and easy tips to level up your small business finances straight away, see you next week.

Flo

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