According to a recent survey by Clutch, 74% of businesses with ten employees or fewer did not have any documented budget for 2022.
What??? A solid budget is a key factor in ensuring your success. A budget will focus your attention not only on the specific goals you want to set (like Revenue Goals) but a solid budgeting process will also allow you to identify and understand when your business will benefit from additional expenses to support that growth. So think, for example, about coordinating your hiring plans with your revenue goals. Do you need to hire staff in advance to grow revenue? Or do you need to grow your revenues first to afford that new hire?
A budget will provide you with all these answers and more. So make that critical decision now – commit to creating a 2019 budget plan. First, define your specific goals and objectives for your business. Then hand your 2023 budget plan over to your bookkeeper and have them input it into QuickBooks. Your bookkeeper will then easily be able to generate monthly Actual vs. Budget performance reports. That ongoing focus on measuring your progress to the objectives you set for 2019 will benefit your business in innumerable ways.
Make 2023 your most successful year yet by creating and working your budget all year!
Make Your 2023 Plan!
ZümiFi’s ongoing bookkeeping services manage your financial activity with a complete turnkey approach. We deliver solid books that provide you with key information in real-time, accessible anywhere, anytime, on any device.
We create a custom combination of online, cloud-based tools, including QuickBooks Online, Bill.com, Box.com, and other tools in unique combinations to truly leverage technology. This enables us to fully automate your system, eliminate data entry, and simplify and facilitate your bookkeeping. And we ensure accuracy and completeness so that every dollar counts.
The Scope of ZümiFi’s Bookkeeping Services:
Accounts Payable Services – Recording, tracking, and paying vendor bills.
Accounts Receivable Services – Recording and tracking customer invoices and payments.
Payroll Services – Processing payroll per each client’s instructions regarding amounts to pay; processing and filing appropriate payroll taxes and tax forms.
Reconciliations – Reviewing and balancing bank and credit card transactions; notifying clients of any discrepancies and resolving discrepancies per clients’ instructions when appropriate.
They are reporting – Generating financial reports based on the collected data.