Timely and high-quality business reporting is essential for efficient management, while accounting is the most important source of information about a company. When is it time for external accounting to be organised as an internal one? When you do not get information from your accounting when you need them, and when you cannot solve this problem by choosing a different accounting service.
Although internal accounting is something that normally medium-size and large business entities have, the size of the turnover and the balance sheet as well as the number of employees are not the only criteria for such a decision. It often also depends on the type and specifics of the company's activities, personal preferences of the owner and the management, and their needs for different types of information in everyday business.
The benefits of internal accounting are numerous: better monitoring of business processes and pertaining documentation, faster processing and retrieval of data, related analytical records, improved reporting. However, the implementation of internal accounting is often delayed since it requires certain knowledge and implementation capacities.
What FI management can do for you:
If you have outgrown external accounting, contact us with confidence. With our experience and knowledge, the implementation of internal accounting will be easier and faster.