🍁 Finish The Year Strong 🍁
November is the last real working stretch of the year. Once Thanksgiving arrives, calendars fill with travel, gatherings, and year-end deadlines. After that, there is little room left to make real changes. What you put in place this month still shows up on your December financials and sets up a cleaner start to January. What is one change you want locked in before the holidays take over?
Hopefully one of the tactics below points you in the right direction. Pick the one that would have the biggest impact right now and commit to it. Some you can knock out before the holidays, others will take longer and need your whole team. The point is to always have one improvement in the works.
If nothing below resonates but something else is on your mind, reach out. That’s what we’re here for.
In this month's edition, we have tactics from our Manage Costs Effectively, Collect Cash Faster, and Leverage Accounting Strategically playbooks. Our playbooks are designed to support our P-R-O-F-I-T approach to outsourced accounting.
🎯 This Month’s Tactics 🎯
Get Paid On Time
Clearly communicate your payment terms upfront and shorten them where possible. Invoices should state terms and payment methods clearly, as some templates fail to make this information obvious.
Trim Software Spend
Paying for software no one uses or duplicate tools? Review subscriptions with your accounting team to cut waste and free up cash.
Trust Your Numbers
Think your books are in good shape? We review books weekly and nearly always find data or quality issues. Perform a data quality check with your accounting team to see how your numbers stack up.
Know Which Projects Pay
If your company-level margin is low, how do you know what is dragging it down? Service-based businesses should track profitability at the project level, and the right systems make this efficient.
That’s it for this month.
Short and sweet.⚡🎯
Just quick tips and tactics that help you build a stronger business.
Learn more about Basis 365 Accounting and our tactical playbooks developed from our P-R-O-F-I-T approach™.
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