We’ve seen it all when it comes to ‘shoe box’ accounting. For some of our clients, the biggest benefit they get early on is the feeling of relief that comes when they are bought up to date.
Many small business owners don’t fly blind, but they do fly with a blind spot. This blind spot usually prevents an accurate and complete picture of their current financial situation. It is far too common for owners to commit to expenditure on the basis of financial information that is too old. This then becomes stressful for the owner, employees and/or suppliers who deal with that small business. To avoid this type of situation, decisions should be based on up-to-date financial information.
As a Your Portal client that uses our core back-office service, every financially relevant transaction is done by us in real time and then updates the accounting software automatically. Thus, you are always up to date. You know how much money you have for expenditures such as your drawings, investments and statutory obligations.
It is probably no surprise that Your Portal clients are more sustainable, with owners making better decisions.
“At any time, eighty percent of small business owners know within a ten percent range where they are, what they have to do and when they need to do it. Keeping all this “stuff” in their heads is no small achievement. But it counts for nothing when they get it wrong twenty percent of the time”.
Ken Lipschitz, Founder Your Portal Accounts