Business finances management

[Ojonuyo]

It is better you handle your business finances personally to avoid regrets and hate. This is money we are talking about and most humans are not transparent when it comes to handling Money. So it is best you do it yourself than employing someone else.

 

[MizzLala]

Financial matters are not a walk in the park. So unless you know what you are doing, you're best off hiring someone professional, who's qualified to do the job to ensure that they get the job done right. Trying to penny pinch by doing it yourself may lead to huge losses.

 

[Eamodu]

Regarding finances and accounting in a business, is it advisable to handle them personally or is it advisable to hire specialized personnel for this work?

Finance and accounting are important and sensitive part of any business or establishment. It's better for an expert in those field to handle the finance/accounting aspects of things. But if your business is small and you can easily handle the finance/ accounting aspects then please do and save money.

 

[Gilead]

In my opinion,if you have good experience in finance management and have studied relative finance courses, then I don't think managing yourself is a big deal..But it's also welcome to employ professionals anyways..

 

[Josemendez]

Regarding finances and accounting in a business, is it advisable to handle them personally or is it advisable to hire specialized personnel for this work?

Every organization has financial responsibilities and needs , thus when the organization or individual thinks that they can handle it or when they want to get the best result from it , then hiring an expert in the field will be the right call .

 

[Sincerem]

You need to handle those field differently through separate employees that got adequate knowledge suitable to manage either of them. Hiring a single personnel for the both job will complicate and worsen matter, cos the personnel will accrue errors cos of work overload.

 

[Greentech009]

It is better to manage your finances by yourself.I but think it's depends on how learned you are in that area. you might not get your desired result as you will get from a professional.

 

[Damismiling]

That is the major problem of one man business, mismanagement of fund, this will gradually eat up the business till the business collapse, if the business is able to pay a finance specialist that will handle the account it is better,get some one that can be held responsible for the management of account it will really safe the business from unnecessary spending

 

[Presido]

There are two types of businesses, the small scale business and the large scale business. Small scale business doesn't require professionals in managing finances because it's doesn't deals with budget and finances. But for a large scale business, different department is highly required to balance your finances with effectiveness and productivity

 

[Trexxxy]

If there are small finance issues, I suggest you take care of it yourself. Although I prefer the idea of hiring professionals to handle it , while you focus on more important activities. I think it is best to just outsource the work.

 

[Alexandoy]

If what you mean in that business is that you are the owner and you are not well-versed with accounting systems it is a given that you need a bookkeeper to handle the ledger for recording every transaction, money coming in and money going out as well. For the month end period you can call an accountant for the auditing of your books (it is usual here to audit the accounting records every 3 months).

 

[Adexgrace]

Business finance management is a very good and important aspect in any business organization. They deal with the transaction and monetary area of the organisation, they calculate and monitor the business analysis. They provide the business with financial reports and analysis. And for the effective operation of the business the finances must be properly managed.

 

[Ralphjoe]

The question of if it's advisable to handle finances of your business yourself or to hire professionals to do the job depends on the size of your business.
If your business is the small type, then it's advisable for you to handle it's finances yourself as such finances won't be complex for you and it will also save unnecessary cost but if it's a big organization, then it's advisable for you to hire professionals to handle the finances of the business as this is where these professionals are most suited to work.

 

[Richard92]

On important department in every business organization is the financial department, this department help in managing the financial affairs of the business. If business finance are not property manage it can lead to crashing of the business, all business needs good financial management In there to solve it day to day expenses.

 

[Ltherman]

For a business just starting out small I'll advice if it doesn't rely on so much work force then the owner can it himself but once he starts expanding and will need some special skills as it pertains to that office and duty then having a hireling will be the best fit.

 

[Nicklas22]

To manage your company's finances, make sure to pay yourself, keep good credit, monitor your books and plan ahead. Debt funding for small businesses means interest fees alongside repayments, while equity funding excludes interest but may come with less control over your company affairs.

 

[chicnthin]

Employing a professional would be necessary as we are talking about the finances of your business. Someone who has spent years a acquiring knowledge and skills for this certain task. Mismanagement is one of the reason why a business don't last.

 

[BrolySSJ]

You need to handle those field differently through separate employees that got adequate knowledge suitable to manage either of them. Hiring a single personnel for the both job will complicate and worsen matter, cos the personnel will accrue errors cos of work overload.

This is true especially when it comes to finances. If you are doing your own finances you may make errors that can't be checked by anyone and since you know your own finances at the same time you may get complacent in which case they are will be even more errors that will arise. In cases like this it can become a real issue if you are audited for your business.

 

[Sariana23]

If you feel qualified to take care of the finances and accounting of your company, I think it is better that you do it, since you save the expenses of paying an employee when you can do it. In case you do not have the time and knowledge, you should hire a professional in the field.

 

[Sincerem]

This is true especially when it comes to finances. If you are doing your own finances you may make errors that can't be checked by anyone and since you know your own finances at the same time you may get complacent in which case they are will be even more errors that will arise. In cases like this it can become a real issue if you are audited for your business.

That's why you need more personnel that can help you out on that one, to prevent any lingering errors that might result when only you is managing it. Cos you still have other job options that needs your attention as the business/company owner.