How would you feel if you knew what profits your business was making right from the off? How would you feel if your accounts were being done as you go and you didn’t have to worry about getting your books up to date at the end of each week, month, quarter or year? How would you feel if you didn’t have piles of paperwork and receipts lying round?
If you don’t know what Receipt Bank and Xero are check out our other blogs: What is Receipt Bank and Working in the cloud with Xero. In this blog we’ll discuss how using them can give you a massive boost in your business and have a big impact on your life and how you feel day to day!
Firstly, having an up-to-date view of how your business is performing will give you an idea of what profits you’re making on a live basis. This will give you a good idea of what taxes are due and if you’re making enough to pay your bills. Knowing that you have enough in the bank each month as a new business, will give you a sense of security that you have a sustainable business and you can pursue your goals. Alternatively, if things aren’t going as planned you can act before it’s too late.
Enjoy a sense of wellbeing
Knowing what profits your business is making on a live basis will let you know if you’re matching up to your expectations before you started the business. If you aren’t doing as well as planned, you can act fast. The feeling that you’re matching your expectations, or knowing what you have to do to make things work, will ease the nerves of being new in business and give you a sense of wellbeing.
Sense of freedom
Not having to collect paperwork and bank statements and write your books up or drop them off at your accountants, will save you masses of time and avoids the burden. Sending an invoice to a customer in the post or on Word will be a thing of the past and you can send it in seconds and get paid faster! You won’t be tied down to the mundane tasks any more and the extra time you’ll save can be spent with your family and doing things you enjoy!
Stand out from the crowd
Using technology in your business can help you stand out from your competitors. Electronic invoices sent by email, that are branded with your logo and can be paid in seconds with a click, look great to clients. Also, having an electronic till in your shop that connects to Xero and texts the customer a receipt with a quick feedback survey, shows you’re a modern business and different from a lot of your competitors.
The small changes in life can have big impacts and streamlining your accounting will be one less thing to worry about!
We specialise in startup businesses and can help with a lot of things from the off:
- Business plans
- Access to funding
- Setting up the business with HMRC and Companies House
- Setting up Xero, receipt bank, POS system
- Staff contracts
- PAYE, VAT and Tax set up and advice
- Auto enrolment pensions
- Cash flow forecasting/budgets
- Set up bank account
- Put you in touch with trusted contacts for website design and development, logo design, printing, workwear, financial/mortgage adviser, social media training/management
You could say we’re the hub for startups! If you need any help get in touch for a quick chat!