“KNOW YOUR NUMBERS!”
This phrase has been touted by countless CPA’s and Financial Advisors to business owners over the years and it always rings true. Knowing specific details about your businesses financial dealings is crucial as it will help evaluate where you spend your money, where you could save money, how much you are making, and how much you are losing. Making progress in any one area can have huge benefit OR loss to your company so getting a grasp on these numbers is something a business owner simply must do. But…where do you start?
A business has so many moving parts that it can be overwhelming trying to dive in and analyze the financial dealings of every aspect of your business. It would be wonderful if there was some way to do it all in one place…say a comprehensive and COMPLETE business management portal…hmmmmm…
Yep, MyCEO.com (you knew that was coming) has just such a feature. One of the features of this robust platform is that it allows businesses to analyze data pertaining to the financial health of the business. This information can be a lifesaver in helping you understand where your money is going and how to maximize savings and profit. For instance, one tool will allow you to keep track of your savings. As you enter in deposit and savings rate data it can track the number of your savings data at any time. In addition, you can also plan your retirement using another tool that will show you where you are in relation to your retirement goals and how much you will need to save to reach a desired goal based on various percentage rates of earning. The platform can also estimate mortgage payments for personal or business loans, convert currencies, and even help you calculate exactly how much you and your employees are worth on an hourly basis…THAT can be incredibly valuable information when you are planning schedules, or deciding whether to hire or fire a particular position.
If detailed tracking of your finances is something that you have neglected but of the complexity and your simply not knowing where to start, maybe Liquidity.org and its financial tracking applications is the answer you have been looking for.
