![]() ![]() Your finance team will be responsible for managing your company’s income and expenditure, including forecasting and budgeting. This won’t just make your life much easier, it’ll also help to safeguard your cash flow and avoid compliance problems with local tax authorities. ![]() The moment your business has the means, it’s worth hiring a couple of people who know finance. Fear not, lonesome traveller: the minute your startup begins to grow - or receives that big cash injection - you’ll likely be setting up a dedicated finance team to help you out. Build a dedicated finance teamĪs of reading this, your finance team may consist of you alone. ![]() Eventually, though, you’re going to want to take a look at how these might be improved to best suit your business and support your team.Ī focus on the following five fundamentals will help you to manage your company’s expenses efficiently and effectively, and free you up to focus on the fun stuff. In fact, you may find yourself a fair way down the line before you have the luxury of taking a good hard look at your expense management systems and procedures. In these early stages, you’ll mostly just be grateful to keep the train on the tracks - you probably won’t have time to make sure everything’s perfect. For the majority of startups, processes for managing expenses tend to evolve according to day-to-day demands and personal preferences. Knowing where to start with expense management can be confusing. Expense management: The five fundamentals ![]()
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