What We Do Different
Budgets
|
Cash Management
|
Break-Even Points
|
Power Querys
|
Budgets | Cash Management | Break-Even Points | Power Querys |
Budgets
If you want to achieve something – make a plan.
That is exactly what a budget is, a financial plan for your business sucess. A simple rule and yet a lot of business owners simply walk by. Any business, big or small, can benefit from good budgeting. Here’s why:
It gives your business defined goals for each month. With a budget, you always know the areas where you’re excelling and where you can make improvements.
It allows you to anticipate problems before they occur.
It helps you ask tough but important questions. How much room for error do I have? Am I overstaffed? What sort of bonuses can we afford to pay this year?
You can predict the company’s cash situation, allowing you to seize opportunities when times are good and prepare for when money is tight.
YourAGroup can not only help you create a budget, but also report against so you know exactly how you are doing. You are never in the dark and you can react before it’s too late.
Cash Management
They say, “cash is king,” but usually the total on your bank statement does not give you the full picture.
Unpaid bills, uncashed cheques, upcoming payroll, and taxes are just some of the factors that affect the cash your company has available.
An effective cash management system can help you answer key questions. Can I make payroll this month? Is that cheque going to bounce? Do I need to push my payables for a week or two? Do I have excess cash to invest?
At YourAGroup, we can help you manage your cash daily, so you always know your true cash position.
This way you can sleep better at night.
Break-Even Point
What does this mean and why is it so important in a business?
Aren’t we in the business to make money? Then why do we even need to understand this? This is exactly the reason why this terminology is very important in business. Break-Even Point is simply the number of sales you need to make before you have covered all your business expenses for the month.
This is the point in time during the month when you can relax knowing you have covered all your expenses and anything you sell from this point on goes straight to your bottom line. Whether you are in the manufacturing, retail, or service industry, the same rule applies. You can already predict how your month went if you knew this number even before your Accountant issues the financials.
Here at YourAgroup we can help you identify what is the Break-Even Point in your business so you have a monthly target that you can aim for and that will help you succeed in your business.
Power Query
What’s Power Query?
Simply put, Power Query is a Microsoft Excel tool that allows the automated transformation of large data sets into readable and easy to use reports without any programming knowledge. It’s a powerful way to analyze and compare data, whether it’s from your accounting software, vendor bills, or payroll system. If you’re wondering if Power Query can help your business, consider the following questions:
Do you frequently need to manually format data to create the reports that you need?
Do you often combine multiple spreadsheets into one file
Does preparing all this data into a usable form take an enormous amount of time to prepare?
Does the data you work with come in various formats like CSV, PDF and text?
Do you work with data that has lots of unneeded information you wish you could remove?
Do you have a lot of data but don’t know how to use it or put it together?
If you answer yes to any of these questions, then Power Query can help your business.
Here at YourAGroup, we have helped businesses capitalize on this underused Excel feature for years.
With it, we have helped our clients turn what were once tedious, day-long processes into ones that take only minutes.
If you would like to know more about Power Query and what it can do for your business, have a look at these articles:
-
Microsoft Article: What is Power Query?
“Power Query is a data transformation and data preparation engine…”
-
CPA Article: Why Power Query is a game-changer
“Power Query is the most important tool you need to master in Excel today…”
-
CPA Journal: Automating Excel with Power Query
Power Query can provide CPAs with several advantages…