Driving Your Business Through Accounts and Banking

This is a Deeside Monitor Farm meeting for Management Group members and their account managers.

It's in the Don Room at Thainstone House, from 5.45pm, Tue 7th October.

It features , McKilligan Financial and , Associate Director of Agriculture for RBS

It's the second of three Driving Your Business events covering 1) XERO as an accounting tool, 2) Structuring accounts and Banking and 3) Independent Financial Advice (Nov 25 with JC Wealth).

At this meeting, Elaine will show how ordered accounts can help drive a business forward.

Elaine notes, 'Many people don’t understand their accounts. In some cases it’s because they have never had someone explain them and/or accounts are prepared for HMRC purposes only. Sometimes there are other barriers.'

'This doesn’t help with forward planning for dynamic businesses:

• where a business is at currently

• where a farmer might need cash or loans for the future and

• where they might be able to set money aside for retirement, investments or other plans.'

Elaine will take attendees through a set of accounts, to:

• Highlight key figures

• Compare profitability between different enterprises on farm

• Compare budgeted versus actual figures

• Manage profit (and loss)

• Use the accounts to plan ahead and prepare for future investments and growth

• Flag up tax points that should be considered.

Emma will explain what a bank looks for from structured accounts and from a farmer and how this impacts on the decision a banker takes when supporting a dynamic business.

It’s interactive! Elaine and Emma will take questions throughout.

There will be refreshments and funcy pieces on arrival and soup and sandwiches at the end of the presentations, with a chance to chat with Elaine and Emma.

Please note that when signing up, you agree that afterwards, you will not share attendees' personal information discussed at the meet, financial or otherwise.

Also check out other Meetups in Balmedie, Nonprofit events in Balmedie.