How often should the accounts be monitored? - How to avoid surprises

Accounting is not just a legal obligation - it is an important tool for financial forecasting and decision-making. Many entrepreneurs only keep track of their accounts when a tax return or financial statement is approaching. Then surprises are almost inevitable: cash flow fluctuates, taxes come unexpectedly and decisions are made too late.

By regularly monitoring your finances, you can stay on top of costs, profitability and cash flow - without the stress. In this checklist of tips, we explain how often you should monitor your accounts and what the benefits are for your business.

1. Monitor your accounts at least once a month

Monthly monitoring is the most effective rhythm for a small entrepreneur.
By checking the figures every month, you will notice any discrepancies in time:

• costs rise unexpectedly
• sales falls
• customers' payments are delayed

Monthly monitoring allows for quick corrective action - and the financial statements come as no surprise.

2. Cash flow monitoring even on a weekly basis

Cash flow is the “heartbeat” of a business.
If there are sales, but no money in the account, the business cannot operate.

A weekly cash flow check helps:

• prepare for payments
• plan investments
• anticipate funding needs

A good rule of thumb: bills out immediately, expenses in as agreed.

3. Take advantage of electronic financial management systems

Electronic systems provide real-time information on a company's finances.
They allow you to see at a glance:

• income and expenditure
• open invoices
• banking transactions
• cash flow development

Concrete Accounting recommends systems to our customers that update the figures automatically. This reduces manual work and errors.

4. Talk to your accountant regularly

Many entrepreneurs do not make enough use of their accountant.
Regular contact brings a lot of value:

• get an interpretation of economic trends
• you understand the numbers better
• know how to prepare for taxes and expenses

Good practice is to monthly short enquiry and a bigger review once or twice a year.

5. Make monitoring your accounts an easy routine

The biggest surprises occur when a company's situation is not monitored at all.
The routine can be simple:

• open the system once a week
• check cash flow
• make a small report to yourself every month

When the economy is transparent, decision-making is secure and calm.

Summary

Regular monitoring of your accounts prevents financial surprises and helps your business stay on a sound footing. Weekly cash flow checks and monthly bookkeeping reviews are the best combination, especially for small businesses.

Want to make it easier to monitor your finances and get clear reports without extra work?

Concrete Accounting helps you build routines that keep you on track - without stress and without hidden costs.