Keep company finances under control

Follow the flow of money and invoice in time, you will stay on top of things better. Accounting and budgeting will also help keep the company under control.

The financial situation of the company cannot be determined by the balance of the bank account alone, but by active monitoring and planning. Cash flow, that is, the movement of money in and out, is the most important indicator in daily life – even if a company is profitable, it may end up in difficulties if there is not enough money to make payments at the right time.

Make sure that you charge customers correctly and in time, monitor the arrival of payments and react to delays quickly. Clear invoicing practices and, if necessary, payment reminders are part of good customer relationship management – not a sign of distrust.

Plan costs and investments realistically. Prepare a budget and regularly check whether there is enough money to cover taxes, salaries, rents and other expenses. It is better to detect the tightness of cash flows in advance than to react late.

Accounting is not only an obligation – it is an important management tool. Even if you outsource it to a professional, the entrepreneur retains responsibility for understanding financial matters. The financial statements describe how your company is actually doing, and they may affect, for example, access to funding.