I know ! doing accounts is a necessary evil if you have a business. They are a cost which add no benefit to the business.
If you are paying to have accounts prepared and submitted to Companies House, it makes sense to make them work for you.
This can be done if you use “Transformational Accounting” ©. (TA)
TA is not an off the shelf package, but something that needs to be tailored for each business.
The Objective of Transformational Accounting:
To make the data that goes into your accounts relevant to your business. To use it to analyse your performance; predict the future and get early warnings of problems that might be coming.
Does this seem too true to believe? It need not do. This is the reason that TA is NOT an off the shelf package, but can be tailored for your business using whatever software you are using.
How it works:
- By ensuring your account codes reflect important activities in your business, we can trace costs more accurately to activity streams.
- Ensure that Revenue streams reflect the activities in your business.
- Analyse the data regularly and correctly. This will be shown to users.
- Act on the analysis to take advantage of opportunities.
There are 4 key “rules” which will be covered in another Blog.
Please contact me to find out more.