1. Do you always have time to complete the paperwork?
2. Are your accounting systems streamlined and cost effective?
3. Do you know where you are with the bank?
4. Are your creditors being paid on time?
5. Do you know who your debtors are - and do you collect on time?
6. Do you know if you’re profitable?
7. Do you know which products/overheads are affecting your profitability?
8. Can you interpret what the accounts are telling you?
9. Do your computer systems work well?
10. Do you have a planning/budgeting system?
11. Are your tax returns up to date?
12. Do you have a clean bill of health with VAT and HMRC?
13. Have you received comprehensive tax advice?
14. Are you keeping up to date with changing legislation?
Going through questions like this in detail will help open up opportunities and will close areas where you could be losing a lot of money.
