Viewing entries by
Lyndon Russell
At Next Level Accountants, we speak to many businesses about their accounting and bookkeeping practices. This conversation covers all the usual topics; accounts payable and receivable, purchase orders etc. and how their current processes work within their organisation.
On first glance, many business owners seem to think that accounting is the simple process of shifting numbers and cataloguing changes in numbers. However, this couldn’t be further from the truth, as utilising the services of an accountant that doesn’t thoroughly understand your business can have an insidious effect on its ability to grow and progress.
A ubiquitous turn of phrase, yes, but one that can have a significant impact on your business’ finances. As accounting is a field based in specificity, a misplaced invoice or inaccurately typed piece of data can have longstanding ramifications when left unnoticed.
If you haven’t asked your bookkeeper the following questions, or they can’t answer effectively, perhaps it’s time you considered switching.
The key to implementing good corporate governance is to ensure that the right decisions are made by the right people. However, that simple notion is far easier said than done. We’ve outlined 5 steps below that will indubitably improve the internal governance of your business.
