Preparation of Business Plan for a Successful Business

Planning is first step towards conversion of ideas into a business strategy. It helps to effectively achieve the goal by proper allocation of resources. Business plan is one such step towards planning where the entrepreneur converts his idea on paper.

A business plan is any plan that works for a business to look ahead, allocate resources, focus on key points, and prepare for problems and opportunities.

Business Plan helps to visualize your business and forecasting the future based on present deployment of resources.

Here are some of the tips to write a good business plan:

1. Know your Audience:
Business plan written with a target audience in mind can be much helpful as you can prepare the business plan as per the knowledge and level of understanding of Audience.

2. Important parts of Business Plan:
A good business plan should have a proper flow of information and should be classified into various parts.
Generally a good business plan should be divided in following parts:
• Executive Summary of business plan
• Product Service
• Management team
• Target Market and competition
• Implementation schedule
• Milestones to be achieved
• Threats and opportunities (SWOT Analysis)

3. Structure of business plan:
A well defined business plan should have a proper structure and logical flow of ideas. It aims at convincing the reader of successful business in future.

4. Clear definition of milestones and time frame for achievement:
With clear strategies business plan should state the time frame for achieving the business goal and tentative schedule for implementation and achieving the goals of business.

5. Emphasize on cash flow:
An effective business plan should emphasize on cash flow of the business. For analysts it is important to have a cash earnings for business rather than just generating a positive gains for the business.
Rayvat Accounting offers business plan preparation services for small and medium sized business helping them to present their business various stakeholders effectively. For more information on our business plan preparation services contact info@rayvat.com and we shall get back to you as soon as possible.

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For The Benefit of Your Company Hire the Outsource Payroll Processing

In any company, payroll is known as the financial records which include the salary provided to the employee, the deduction made as well as the bonus given to the employees. The most usual work for Payroll Processing Service is to write the paychecks for the employees. The company will provide the bank account to the payroll processing company. In general it will deposit the amount of pay funds for the employees in the bank account before the payday comes every month. Than after the company for Outsourcing Payroll Services use these amounts to pay the employees and taxes of payroll.

For a small business, Payroll Processing can devour the marvelous percentage of an entrepreneur’s gross income until and unless one knows how to approach the payroll aspect in a best way. It is too difficult to manage especially for the owners who are already work in limited resources and budgets. Errors occurred when the owners administer the Payroll Services by their own. If you make the mistake to add the someone’s overtime or holiday pay, the employees will get angry. If the paychecks will not go on time, consistently, the confidence of the company can break up. And when the morale drops, the productivity, sales and the income drops. This in turn will harm your business.

So to avoid the number of complications, more entrepreneurs are hiring their payroll services and lessen the burden. There are unique advantages for Payroll Outsourcing like reduction of cost, lower risk potential, confidentiality of data, no penalties, direct deposits of money etc. Also day by day the employment and wage laws change. It is possible that the entrepreneurs or the owner do not know about the law changes as well as they do not have time to understand the new laws. Thus they may be choose the outsource payroll companies. In this way, hiring the Outsource Payroll Service Company is always beneficial and it will reach the company at higher peak.

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Receivables Management for your Business

" Tips for better management of your Receivables"   

 Here are some tips for better management of your receivables:

1.Prompt recording and invoicing:
Record sales as quickly as possible and ensure that the invoices are delivered to client as soon as the product is sold or when the service is completed.This helps in faster conversation from cash after sales transaction.

2.Credit Policies:
Customers should be made to adhere to the credit policies and should be followed up immediately after the invoices are sent.

3.Outsourcing of Receivables:
In case the present staff is not able to effectively manage your receivables it would be a good decision to outsource to third party vendors. This would have a dual advantage of lower cost as well as increase in efficiency.

4.Follow-up of Receivables:
Timely follow-up of the receivables would help in faster collection and reduce the amount of bad debts. You can hire an agency to have a timely
follow up of receivables.

5.Ageing Analysis:
Business should do regular ageing analysis and thereby getting an overview of where the receivables management stand.

 6.Competitor Analysis:
Business should also analyze the present credit practices of competitors to know the recent trends in collection.

7.Automation:
Automation of business process can prove to be cost advantageous. We can provide Automation with Software’s like intuit Quick-books freeing up your majority of time. Quick-Books can do automation for you.

8.Quality of Receivables:
Business should ensure that the receivables are of high quality and would not default. Various tools like bank guarantee, letter of credit etc. can be used for reducing the default risk of receivables.

9.Mode of payments:
Business should accept payments in as many ways as possible which makes it easier for the business to pay on time.

We at Rayvat Accounting would help you to manage your receivables effectively. You can drop a mail at info@rayvat.com for a free analysis of your present process and how can we help you manage your receivables at competitive rates.

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Manage your Effective Accounts Receivables

Accounts Receivables management becomes an important aspect of your business when the it is in growing phase. Accounts Receivables Management can act as a savior when the business is facing working capital crunch.

How we manage your receivables:

• You can consider us an extended member of your team.
• We would document all the calls made on your behalf and all email communications done for your business.
• The staff is fully trained in managing your receivables

We would give you a complete report of:

1. Ageing of your receivables
2. Follow up done by us
3. Responses of the clients
4. Report of Disputed Amounts

Advantages of working with us:

Cost Benefit:
1. Cost Benefit: We provide services at highly competitive by outsourcing model.
2. At Rayvat Accounting we shall provide you timely reports to help you analyze the current status of your receivables.
3. Better Receivables Management can help in better working capital turnover and thus help the business to thrive.
4. In most of the cases the receivables are left untouched due to overworked staff and business
5. We shall comply with fair policies for converting your receivables to cash by realistic, prompt as well as pragmatic approach towards receivables management.
6. We shall always ensure to maintain reputation and goodwill of your enterprise.

We would surely reduce unnecessary ageing of your receivable by outsourcing your receivables and thereby better management of working capital.

For More Information Visit Us: Accounts Outsourcing

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