The role of Financial Managers in maintaining records of business expenses

Financial management refers to the strategic planning, organization, direction and control of a company's cash flow. It involves the management of your financial resources and activities. It also includes the application of management principles to financial assets while playing an important role in tax management.

The success of your business depends on the quality of your financial management. For the survival of your business (other than a micro-business), it is essential to entrust the financial management to a chartered financial manager who will know how to juggle the actual and forecast flows, entering and leaving your business.

A chartered financial manager plays a major role in offering financial advice, auditing accounts, and keeping authentic information on financial records. From keeping books and researching cost-cutting financial managers to providing financial advice, accountants will provide a vertical array of services and help keep your business financially healthy.

Your financial manager can show you all the possibilities for saving on your taxes. Informed about all the reforms in terms of VAT declaration, he will help you complete your tax declarations. He will represent the assessments before the tax authorities and advise you on the different types of taxes you are required to pay.

Your financial manager performs a thorough analysis of your business's financial statements and expenses to ensure that funds are spent as efficiently as possible. Besides verifying your accounts, this professional also designs strategies that can help improve the economic situation of your business.

This professional helps you keep records of your company's financial transactions. He regularly updates the purchase ledger, the sales ledger, the receipt ledger and the payment ledger and prepares the income statements with absolute transparency.

It is one of the key activities of financial management. Its main purpose is to assess whether or not your business is achieving its goals.

The chartered financial manager helps you in your decision-making in the investment and financing of your business.

One of the main roles of a financial manager is to provide reliable advice to clients, including on investments, tax legislation and insurance decisions. It will summarize your current financial situation and structure the most effective financial plans best for you. The professional will constantly review your progress and the growth of your business to avoid pitfalls in the future.