6 Accounting Tips for SMEs

  1. Weigh the option of hiring a professional accountant and Do it yourself accounting or Outsourcing to an expert
  2. Keep your accounting records upto date to help you make business decisions. Record all of day’s transactions into the accounting-software before the end of the day.
  3. Improve timely invoicing process to ensure timely collection of receivables and maintain healthy cashflows
  4. Develop KPIs to measure business performance to improve revenue and boost profitability. Apps are available to facilitate this.
  5. Build and Review daily, Dashboard of critical business information.
  6. Review and Analyse with competent person your monthly P&L, Balance Sheet and Cash Flow Statement. Take timely decision
accounting tips form SMEs