Now that your 2017 financials are wrapped up and your books have been handed off to your CPA, let’s talk about 2018.
Right now is the perfect time to think about budgeting. The cost of products and services change, and you should adjust your pricing to ensure your business is profitable. Run your profit and loss for 2017 and compare it to prior years. Do you see a change in your income and expenses? For some businesses, the changes may be subtle and for others the change is obvious. If you can see a pattern, this will help you create your 2018 budget and beyond.
It is also a great time to budget for next year’s taxes. Talk to your CPA about the new tax laws and how it will affect your business. Your CPA will be able to help you calculate a ballpark figure to ensure you have adequate savings to meet next year’s taxes. Throughout the year, slowly put this money away into a savings account should help ease the impact on cash flow when it is time to pay your taxes.
It never hurts to plan for your future. In fact, it may help you make financial decisions that will grow your business. If you would like to start budgeting, ask your ZümiFi account manager to run the reports for you. We are here to help you prepare for the future.
Start 2018 with a Plan for Success!
Why do you need financial management?
The real question is, “Why don’t you need financial management?” Most small businesses struggle because they aren’t comfortable analyzing and tracking what’s going on with their numbers. These reports can be difficult to understand unless you can read between the lines and see the big picture, month to month. ZümiFi can help. We believe that “working” your financials is much like exercising… We all know what we “should” be doing it, but it’s often hard to get into the habit. So if you don’t like staring cross-eyed at financial reports, let ZümiFi create and manage the reports for you.
Financial Management Services
ZümiFi can help you create the Financial Management discipline and the routine to flex your business muscles. Our services can show you how to get the results you desire for your business. Like a personal trainer at the gym, ZümiFi’s extensive financial and business expertise can save you time and money in managing your business. We’ll help you achieve your success more efficiently and more effectively.
The Scope of ZümiFi’s Financial Management Services – With our Outsourced CFO services, we can help you:
- Monitor your business financial performance with customized criteria and metric tracking.
- Create budgets and cash flow projections so you can strategically monitor your most critical resources.
- Design and implement internal controls to ensure that the information you gather is clean, concise and worth the efforts you put into gathering that information.
- Advise regarding the technology your business uses and business process optimization.
- Provide advice/ support to the CEO / COO / Owner as a key and confidential partner.
- Financial Review and Oversight – For clients who manage their bookkeeping, we offer oversight and review services to monitor that bookkeeping and provide our unique expertise in QuickBooks and financial analysis for your business.
Contact us today or call 415.550.3070 to find out more about our experience, expertise and how you can benefit from customized financial management services to meet your business needs.