With everyone trying to cope with the changes brought about because of COVID-19, businesses are trying to succeed in a rather different kind of working environment. This leaves them trying to make their bottom line more stable and go from there. If you are looking to succeed during these times, you should begin with a strong foundation. We can help, offering the most reliable bookkeeping Stratford clients can ask for. In addition to this, we are also more than happy to provide accounting advice.
Below you can learn about some of the important things you should focus on while the world tackles COVID-19.
Speak to your customers
The majority of your customers will be in the same position as you. If you regularly communicate with them openly and honestly, they are sure to appreciate it. Try to do this as early on as possible rather than giving late updates. People often underestimate the value a sense of company culture has but this is important in cases like the one we are dealing with now.
It might be worth reaching out to suppliers to discuss payment plans and discounts. You can also contact customers to ask about their needs to see if there is a way you can meet them and offer support.
Make the most of tax relief from the government
There are several support schemes on offer from the government for people to utilise. For instance, you can defer Self Assessment and VAT payments if you need to do so. These measures are in place to help people so you might as well take advantage of them. Make sure you know the deadlines for tax and keep track of the ones that have been deferred so you know what to pay and when.
There are some businesses out there saying they do not want to take money from the government because they can look after themselves for a few months and do not wish to add to the burden of taxpayers. However, you should not turn down this support if it is something you need. The subsidy available can be a huge help in staying afloat.
Look at essentials
If you have any subscriptions that are not essential and you will not face penalties for terminating, you might want to cancel them. In fact, you should use this time to look at expenditure and streamline it. Try to put things into two categories of necessities and things that you like having. You can trim away some of the latter to save money.
Surviving with the help of bookkeeping in Stratford
The experts on our team are all specialists in accounting. As a result we can offer a full range of services for clients. Our main goal is to support businesses with their needs in these tough times.
Get in touch with Brian G. Lonis & Co if you want us to help. We provide the very best bookkeeping Stratford has to offer, keeping clear records for our clients. With them they are in the best position to make the right business decisions.