Focus on Staying Current

You’ve probably heard that your stress level can by reduced by decluttering. Part of that decluttering involves getting current on activities. But after decluttering, then what?

Picture This

Most of us have the experience of having looked at a closest, garage, basement or desk that was cluttered. It can be overwhelming.

cluttered desk

Just looking at this picture should make any of us want to get rid of any piles we have on our desks. Unfortunately, doing that is only part of the issue. Unless we are intent on staying current the piles will just keep re-appearing.

It’s About More than a Desk

The picture of the desk above symbolizes how many of us operate, and I’ll confess I have this tendency as well when it comes to a desk. But, I have started to become more deliberate about cleaning up the messes, wherever they are.

When it comes to record keeping for your company, it is critical that you focus on staying current if you really want to know where you stand financially. After years in this area it is second nature for me to stay on top of accounting records. Without current accounting records you are more likely to experience some of the following problems and most likely others as well:

  • Cash shortages
  • Late payments from customers
  • Inventory shortages
  • Inventory overages and eventually obsolete inventory
  • Late payments to vendors, resulting in difficulty making purchases
  • Inability to pay bank loans in a timely manner

Of course, these are just a sample, but they are some of the big problems that can occur when your accounting records are not kept current.

Business Relationships

Just as you need to stay current on accounting records, it is important not to neglect your business relationships. Do you have an employee that is not performing as desired? Postponing a conversation to make corrections is only magnifying the problem. Have a customer that is unhappy? Don’t wait till it’s too late and they stop buying from you. Know you cannot pay a vendor on time? Talk to them, explain the situation and let them know when they can expect payment. Need to hire or fire someone? Once again, delay only makes it worse.

The bottom line is, whether physical clutter, financial records, or relationships it pays to focus on staying current.

Need help establishing routines to keep you company’s financial records current, then AimCFO is here to help.

If you want to know more, contact AimCFO – Contact

As always, your comments are welcomed.

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