Real Life Real Faith Christmas Magazine (2) | Page 22

FINANCE REVIEW
PAGE 22
2017
WHY THE END OF
THE YEAR
IS THE PERFECT TIME TO REVIEW YOUR
FINANCES
Pierre Jean Claude
Whether you have a startup, a small business Same goes for your account receivables. Compare
or a large enterprise, chances are the year has your account receivables with those from the
passed at the speed of light for you. You were previous years and see if there has been any increase
designing your marketing campaigns, or decrease. If there is an abnormal increase, it is a
availing opportunities of growth and looking
through reports when the year-end arrived.
While people dedicate this time of the year to
holiday delights and festivities, this also
happens to be the perfect time to do a review
telltale sign that you might need to change your
payment plan or push more to receive your pending
payments faster. Every activity you have done in the
past year has painted a picture, which is now in front
of you. Whether you grew as a business, stagnated or
rThe Best Time to Set New Goals
of your finances whether you are just an
individual with a 9 to 5 job or a small Based on how you performed in the preceding year
business. Why should you spend your end of and whether or not you have achieved your set
the year for a financial review? Here are the targets and goals, you can set goals for the coming
top reasons. year. Your previous year's performance should clarify
how you have to set your targets for the coming
A Strong Visual of Your Financial Standing
year. Keep them realistic yet motivating and
challenging enough to leave room for hard work,
The most important thing about a year-end financial struggle and progress. Not only should you be
review is that it gives you a complete visual of where looking at how successful you were in achieving
your business is standing at the moment. Everything previous year's goals, you should also pay attention
that has happened throughout the year is now on to your current financial standing.
the reports before your eyes. You can look at the
reports and see what has performed and what has Best Time to Apply for Loans and Credit Processing
not performed. You must have put a lot of money Services
into marketing your products, services and the
brand as a whole. You can now see which of those Regardless of how long you have been in business
campaigns have yielded good results and