Many people think of financial planning when they think of their own bank account: paying their bills, budgeting, setting money aside for rainy days and tracking their expenses. But the management of finances for businesses is much more than that. It involves tracking and monitoring every dollar that enters and leaves a company. It also includes making strategic decisions to ensure that the company is as secure and profitable as it is possible.

The first thing all businesses must set goals for themselves, which include measurable targets for things like profitability maximization and growth. They need to then decide on the best way to achieve their goals. This involves setting up accounting systems, creating financial reports, and determining the best way they will grow their money. Even small improvements to a company’s financial management can have a significant impact on its short-term and longer-term success.

The finance department is accountable for the money that comes into and leaves a business. They are the ones who set up and implement the company’s banking procedures. They also supervise the issue of bonds and shares and manage loans and debentures and make all investment decisions. They must be able to balance the books, and make sure there is always cash available for all operating costs.

Zeni can help you with your bookkeeping and accounting needs, and even provide financial reporting in the event that your business is expanding rapidly and you are not ready to hire a full-time CFO, or financial controller. Zeni offers startup-friendly pricing and can manage your financial reporting, accounting and bookkeeping remotely.