wp-fs, Author at Fair and Square

In today’s economic situation it is essential to detect the obstacles which are creating problems in business development. One of the mainly addressed problem in both small scale and large-scale business is unprofitable customers. Its essential to detect this to avoid the high cost of low profit customers. As they not only affect your business development but also your financial growth. To avoid these businesses should perform an annual customer analysis with the help of a skilled accounting professional. Customer analytics is a subset of business analytics that focuses on metrics that tell you more about your customers. Where traditional forms of financial and operations analysis only tell the story of what’s happening inside your business, customer analysis tells the story of what’s going on outside your offices — where your customers come from and how they make decisions. Customer Analysis helps you in analyzing customer transactions to determine which customer or industry will help you generate highest revenue. There are many ways to analyze your customer base such as: 1. Sales volume. 2. Gross margin profitability. 3. Number of transactions. 4. Average sales per transactions. This information will not only detect the customers who are a drain on the company resources, but will also highlight opportunities to sell more to higher margin customers who have low activity. We at Fair & Square Accounting and Bookkeeping Services, get rid of the clients that are high maintenance, then it frees your organization to focus on the more profitable customers. While a successful strategy might be to cross sell additional products or services to those clients who value the relationship, another strategy would be to target new customers with the same characteristics as the good clients you have today.

Benefits of Customer Analysis for a Small-Scale Business:

April 11, 2022wp-fsNo Comments

In today’s economic situation it is essential to detect the obstacles which are creating problems in business development. One of the mainly addressed problem in both small scale and large-scale business is unprofitable customers. Its essential to detect this to avoid the high cost of low profit customers. As they not only affect your business…

What are the Benefits of Outsourcing Bookkeeping Services?

April 5, 2022wp-fsNo Comments

There are a number of advantages of outsourcing the accounting services of a company. These are: High Level of Accuracy It becomes extremely important that the reports and data generated ends with a high accuracy level. Professional accounting firms can help you in getting the same that will help you to uplift your business. Cost-effective…

Common bookkeeping mistakes made by small business owners.

March 31, 2022wp-fsNo Comments

Most small business don’t have enough time to dedicate themselves in maintaining proper records which results in poor bookkeeping. The tedious and mundane task of bookkeeping can often take up hours and hours of time. This is the primary reason that well over one-half of all small business owners do not keep their finances up…

Can outsourcing accounting and bookkeeping services ensure high data accuracy?

March 22, 2022wp-fsNo Comments

In today’s fast growing world and the ongoing recession periods companies are trying to cut their costings to the bare minimum to ensure that they are not wasting their funds on anything that is unnecessary. In order to keep a proper track of their books, payroll and accounting activities in a cost-effective way with high…

UAE TO IMPLIMENT CORPORATE TAX LAWS FROM 2023

February 2, 2022wp-fsNo Comments

Published on 31st Jan 2022. DUBAI, United Arab Emirates — The United Arab Emirates will be introducing a federal corporate tax on business profits for the first time, the Ministry of Finance announced Monday. The news represents a significant shift for a country that’s long attracted businesses from around the world thanks to its status…

AMENDMENTS IN THE UAE VAT ADMINISTRATION RULES

September 20, 2021wp-fsNo Comments

The Federal Tax Authority (FTA) has announced a reduction in penalties for businesses to file accurate tax returns by June 28, 2021. The UAE Cabinet issued Resolution 49/2021 to amend the provisions of Cabinet Resolution 40/2017 relating to administrative penalties imposed for violating tax laws in the UAE The new resolution grants the UAE Federal…

ECONOMIC SUBSTANCE REGULATIONS

September 2, 2021wp-fsNo Comments

WHAT IS ESR? The UAE enacted Economic Substance Regulations (Cabinet of MinistersResolution No. 31 of 2019) on 30 April 2019 and released Guidance (Ministerial Decision 215 of 2019) on the application of the Regulations on 11 September 2019. The Regulations and guidance applies in all UAE jurisdictions, including financial free zones In consultation with the…

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