What needs attention in your business?
Choose the situation closest to yours. No financial figures are needed.
What needs attention?
Choose a situation, then reflect on three optional questions. The starting guidance depends on your selected situation; it is not a diagnosis of your answers.
Sales are growing, but cash is tight
For the situation you selected, start by comparing cash timing with the profit figure. Review collections, stock and unbilled work alongside payments coming due.
- Start with available opening cash.
- For the next eight weeks, list expected receipts and payments, including taxes and loan repayments where applicable.
- Carry closing cash into the next week; show assumed funding separately and flag balances below your cash buffer.
We do not know which products make money
For the situation you selected, build a cost sheet for one representative product or order. Classify direct and shared costs separately from fixed and variable costs.
- Identify the costs directly traceable to the order and those shared across the business.
- Assess which costs change with the decision and document allocation assumptions.
- Review discounts, delivery, rejection, credit terms and displaced capacity.
Our accounts arrive late or keep changing
For the situation you selected, start with a repeatable month-end closing routine, named owners and an agreed document cut-off.
- List reconciliations and documents needed before reports are final.
- Assign an owner and completion date to each check.
- Review unusual movements and explain significant adjustments.
We are starting or reorganising a business
For the situation you selected, map the operating model before choosing a generic setup checklist. Structure and registrations depend on your actual facts.
- Describe ownership, trading activity and how sales will be recorded.
- Identify payment approvals, stock, staff and customer-credit routines.
- Prepare a basic cash plan and discuss the registrations relevant to your business.
Business-stage pathways
Starting: Map ownership, registrations, records, invoicing, payment approvals and a basic cash plan.
Growing: Review closing routines, management reports, working capital and delegation of approvals.
Adding a product: Check cost, capacity, pricing assumptions and the cash required before collections begin.
Seeking finance: Reconcile accounts, understand working capital, prepare supportable projections and assemble the lender's requested records. Approval remains the lender's decision.
Improving controls: Start with a process where error, delay or unauthorised activity would matter most. Map responsibilities and evidence of review.
My first finance routine
Build a routine before the paperwork builds up.
Daily: Record sales and purchases; retain supporting documents; track receipts and payments.
Weekly: Review collections, supplier commitments, cash needs and missing documents.
Monthly: Reconcile banks and key balances, close the records and review the financial result.
Periodically: Review pricing assumptions, stock, credit terms, access rights and the compliance calendar that applies to your business.
Note: This is a suggested routine to adapt to transaction volume, not a mandated timetable. It is an operating routine, not a complete list of statutory obligations.
Prepare for the first conversation
You do not need a perfect set of accounts to start a conversation.
A short description of your business and the question you want answered is enough for the first enquiry.
Preparation questions:
- What does your business do?
- What decision or problem needs attention?
- Is there a deadline?
- What records are available, and for which period?
- What would a useful outcome look like?
Important: Please do not include financial statements, PAN, Aadhaar, banking credentials or passwords in your enquiry. If an engagement proceeds, we will agree how necessary documents should be exchanged.
Educational working aids. Examples are fictional; they are not client results, statutory determinations or audit assurance. Engagement scope is agreed separately.
What financial records should a new business set up first?
Start with the business structure, registrations and a simple system for records, invoices, customer collections, supplier payments and bank reconciliation. A routine that works from the first month is more useful than a complicated report built on incomplete transactions.
Three steps to begin
- Separate business transactions from personal spending and keep evidence.
- Create a weekly collections and payments review, with an initial cash forecast.
- Close and review the books monthly; check registrations and filings applicable to the actual activity.
Read the practical explanation · Explore a related worksheet or tool · Discuss professional support.
Illustrative educational guidance, not a diagnosis or advice for specific circumstances. No financial figures are submitted automatically.
Why are the monthly accounts always delayed or changing?
A useful monthly MIS depends on closing the records consistently. Late bills, missing stock adjustments and unreconciled bank entries can change the result after it is first reported. Assign owners and deadlines for a repeatable month-end close.
Three steps to begin
- Set a cut-off and collect missing sales and purchase evidence.
- Reconcile banks, customer and supplier ledgers, inventory and statutory balances.
- Publish management reports only after a documented review and correction log.
Read the practical explanation · Explore a related worksheet or tool · Discuss professional support.
Illustrative educational guidance, not a diagnosis or advice for specific circumstances. No financial figures are submitted automatically.
Which products actually make money?
Build a product or order cost sheet first. Separate traceable materials, labour, relevant conversion cost and an explicit allocation of shared costs. Then compare selling price with contribution and full-cost margin, stating which decision each result supports.
Three steps to begin
- Record good units produced, not just the number of inputs purchased.
- Measure material loss, rework, packaging, selling costs and marketplace fees as relevant.
- Keep markup, margin and discount effects distinct.
Read the practical explanation · Explore a related worksheet or tool · Discuss professional support.
Illustrative educational guidance, not a diagnosis or advice for specific circumstances. No financial figures are submitted automatically.
How should I price a small batch or new component?
A quotation should reflect the manufacturing route, setup time, batch size, cycle time, material yield and expected rework. Fixed setup may create a much higher cost per part for a small order. Compare the quoted price with available capacity and commercial terms.
Three steps to begin
- Confirm customer drawing, specifications, quantity and delivery terms.
- Check machine-hour cost, tooling life, rejects and subcontract operations.
- Model the outcome if batch size or required price reduction changes.
Read the practical explanation · Explore a related worksheet or tool · Discuss professional support.
Illustrative educational guidance, not a diagnosis or advice for specific circumstances. No financial figures are submitted automatically.
Why does the business show profit but have little cash?
Profit and cash measure different things. Credit sales can create revenue before the customer pays, while wages, suppliers and taxes may require cash earlier. Start with an eight-week forecast rather than judging liquidity from a single profit figure.
Three steps to begin
- Reconcile the opening cash figure to the bank and usable facilities.
- Group realistic collections by expected week, rather than invoice date.
- Show GST, payroll, loan payments and suppliers on their actual due weeks.
Read the practical explanation · Explore a related worksheet or tool · Discuss professional support.
Illustrative educational guidance, not a diagnosis or advice for specific circumstances. No financial figures are submitted automatically.