You are operating your business blindly if your bookkeeping system is not up to date. On the other hand, your business bookkeeper can remove the blindfold and reveal the financial state of your company. How can you make decisions if you don't have good financial data?  Without current income and spending data, how can you begin planning how to build your business?   

Here is what is going on beyond that financial blindfold:   

1.Income and expenses   

It amazes me how many business owners have no idea where their company stands right now. Many business owners come to us for bookkeeping services later in the year (usually later in the year) and haven't done any bookkeeping yet. Without knowing your current financial situation, how can you make any financial business decisions? Need any assistance? Our experts will help you through virtual bookkeeping services in Tulsa, ok.    

2. Cash flow and accounts receivable   

A start up business's cash flow is critical. Cash flow is essential to any firm, regardless of its size or maturity. The most common issue is that a company sells its product or service but does not have any cash on hand. Accounts receivable is always the root of the problem when we dig deep enough. Keeping track of your invoices and accounts receivable will improve your cash flow and help you stay in the industry.   

3. Financial forecasting   

You can start financial forecasting if you have up-to-date income and spending statistics and are keeping track of your accounts receivable. Forecasting is impossible without correct books, and accurate books can only be obtained by performing monthly account reconciliations. Even though forecasting is a vital step for a company to take, many companies fail to create up-to-date bookkeeping, making forecasting impossible.    

4. A growth plan   

You have accurate, up-to-date books, a handle on your cash flow, and a financial projection put together. Now it's time to get down to business and expand your company. While there is much more to growth than money, taking a close look at your current financial status might help you with your business expansion strategy. As you can see, there's much useful information hidden behind your financial blindfold, and it's all connected. Ensure your business's bookkeeping is up to date, manage your cash flow, create a financial projection, and expand your company.   

Reach us out for bookkeeping services for small businesses in Tulsa, OK.