Control your cashflow
Managing cash flow is an essential element of running a successful service-based business. You may be forced to wait up to 90 days for payment from customers, but still need to pay your employees in the interim. That’s why it’s so important to have a clear understanding of both who owes you money and who you owe money to. We can help take the guesswork out of this process by keeping your books updated and providing a detailed view of your accounts receivable and payable at all times.
Accurately track and record expenses
It is critical for service-based businesses to accurately track and record expenses in order to maintain efficient cash flow. We help you understand where your money is going, identify potential areas of savings, keep an eye on spending trends, and plan for future expenses. Accurate records also ensure you pay only what you owe in taxes — and nothing more. And if you need funding, having up-to-date records makes it easy for you to clear due diligence with lenders.
If you want to be successful as a service-based business, you need to know the profitability of your projects. You’ll gain insight into which services generate the most revenue and how effective your team is at managing costs. You’ll better allocate resources and make more informed decisions when selecting and quoting future projects. Good project profitability tracking also helps build trust with clients by providing clarity around pricing and demonstrating a commitment to delivering quality work that is cost-effective. And most importantly, Our project profitability tracking helps you maximize your profits.
