Although many businesses and bookkeeping firms focus on the data entry, Bizgro understands that reporting and budgeting makes the difference and enables businesses thrive. By analysing the Profit and Loss Statement, a business can review expenses to ensure they are properly managed. The business can look at the large % expense items and determine if there are areas for improvement. This can make a large impact on the profitability of a business.
If the accounting system is setup correctly, vital statistics from the income side of the Profit and Loss Statement can be reviewed. Items such as the profitability of a customer or item can be determined. The business then can make plans to ensure they focus on the areas that are working well.
The Balance Sheet can also be analysed to ensure their funding/bank account balances are adequate for their business operations. The accounts receivable can be reviewed and measures can be put in place to help with the management of outstanding customer debts. This can improve the cashflow of the business. Also the supplier balances can be measured to ensure there are funds to cover the bills as they become due.
Budgeting and planning is also very important. It enables the managers of the business to focus on the items that need to occur in order to achieve success in the business.
Bizgro can help businesses with their normal reporting requirements and specialised data analysis to help them reach their potential. By providing certain reports, Bizgro can aid with the budgeting process too.