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One of the ways in which you can keep a good order about the administration of the economic resources of your business, is through a financial agenda. It should include detailed information about income, expenses and everything that has to do with the financial status of your small or medium business. Well in this way you can know what movements have been made and what are the following to cover.

The main advice we can share with you is that creating a financial agenda is easier if done digitally than physically, since you can find some tools that support and help you manage your business finances more accurately.

To begin to put together your financial agenda for the following year, you must have a clear vision of the goals to be met. That is, where you want to take your business and what you need to generate or obtain to achieve it. Here it is important that you take into account the business plan with which you started your SME, it is good to remember why you decided to undertake to continue motivated always towards growth.

In this first part you must fix:

  • Main objective: it could be to open a branch, cover more territory or get some important business opportunity.
  • Secondary objectives: these refer to those improvements or goals that can be met in a short time and that would likewise help achieve the main objective.

What should be included in the financial agenda?

Once you have set the next path of your business, the following aspects should be included as you obtain the appropriate information and according to the estimated dates that cover the following year:

Annual budget

With annual budget, we mean that you make a budget of the capital you need to achieve your goals during the following year. That is, a list in which you include the expenses that will be necessary to be able to make your new opening, renewal, etc. In addition to this, it also estimates the amount with which you already have and managed to obtain up to this point. Well, that’s what represents the real performance your business got during the previous year and what you have to start this new one.

  • Income: this point as you will add it according to the performance in sales and profits that are produced over time.
  • Fixed expenses: payroll, administrative and operating expenses, rent, cleaning and basic services such as electricity, water or gas are expenses that you should always keep in mind. It also includes purchases of raw materials and payments to suppliers so that your business can operate.
  • Temporary income: for this point you can only keep in mind that there is a possibility that some good business opportunity may arise and also the income that arises from the season that you consider high for your sector.
  • Temporary expenses: these can be fiscal expenses, maintenance, insurance premiums, legal advice and contingencies.

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Advantages of creating a financial agenda

With all this information already reflected in an agenda that covers all the seasonality of the year that I came, obviously you will keep in mind what months are in which the expenses could rise and thus be prepared to optimize any economic resource you obtain.

Order in finance

Also, by following your financial schedule where you record each movement and transaction, you can have control of each amount of cash that moves within your small or medium business, because you know how much you spend and generate, which leads to the next advantage.

Creation of strategies

By knowing the exact movements of where the money your business generates is, you have the opportunity to constantly evaluate each aspect and thus create strategies that increase your capital . For example, you could lower operating costs by implementing a change or improvement in your production area and even make better decisions about your business finances.

How does a digital tool help your financial agenda?

Today there are digital tools that help with the management of the economic resources of a business and are very useful, since you can corroborate the data and store all the information to make comparisons on the performance of your SME.

One of the tools that could help you for your financial agenda, can be Kompás , a tool totally free and that shows the billing of your business month after month so that you correctly analyze the income and expenses that you were generating. It also helps you to know which client has been the best and in what concept, so that you have in mind to offer a good service. And in addition to the financial status of your business, it also provides information about your credit bureau and the score you maintain so you can maintain greater control.

Now that you have in mind to create a financial agenda for this 2019, do not limit yourself to your business growing, remember that having a defined plan is more likely to succeed.

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