15760 Ventura Blvd, Suite 610 Encino, CA 91436
15760 Ventura Blvd, Suite 610 Encino, CA 91436
Personal, Affordable Payroll Services, Bookkeeping, and Tax Processing for Small Business throughout Los Angeles County.

Increase Your Profits Tip 8 – “That Was Really Dumb” Warning App

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That there is an app for everything is almost true. However, I could really use an app that gives me a buzz in my pocket or taps me on the wrist just before I do something dumb. This would be especially useful when it comes to financial decisions. You are just about to spend $75,000 on a Challenger Hellfire when “bing!”

I would imagine that such an app will be possible in the future, but the closest thing we have to such a great tool would be financial reporting systems. And it is possible to set up your systems to create warnings by the day or even by the minute.

For instance, you might have a policy regarding how much of a discount can be offered by your sales people or customer service staff. When they try to process an order that has a greater discount, the soft wear can be programmed to stop that sale without an override.

Or, maybe you create an open to buy system to limit purchasing too much product. You can set up your system to stop an order from being placed if it is outside the parameters that you have created.

Payroll can be monitored by the day or even tied to sales. If sales fall below a certain dollar amount for any given period, you can be notified. If payroll as a percentage of sales drops to a preset amount, you can be notified.

You might want to do a brainstorming session with your top managers or just with yourself to imagine the potential warnings you would like to set up for your system. The potential list would be in the dozens.

If you would like help in setting up financial systems that will warn you before you do something dumb, call ATPP at 818-436-2775