5 habits to adopt for good management

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To be a self-employed person is to be the sole master on board. A great advantage for freedom and flexibility… which can turn into a disadvantage when it comes to managing your accounts. Not everyone has the soul of a financier!

So how do you implement sound accounting management? Discover 5 good habits to implement now.

1. Never start a mission without a signed quote

A signed quote is a mission that starts off on the right foot! Never start working without having the client’s agreement on the proposed rates. This document is used to set the rules of the game before starting a project. If the client signs, it is because he is motivated to collaborate with you and ready to pay for your services at the right price.

However, the quote does not represent the invoice. It must be transformed to ensure payment of your benefits. An important detail if you require a deposit before starting (and we advise you to do so!).

Coming up with a quote, calculating a down payment and turning it into an invoice is time consuming, but necessary. Fortunately, there are solutions to make your freelance life easier, like FINOM. This financial service helps you quickly create quotes and turn them into invoices, with just one click!

2. Monitor your cash flow

Compulsory, the professional bank account dedicated to your self-business requires special attention. To properly manage your cash flow, you must control the financial inflows and outflows from your professional account, as well as the remuneration paid to your personal account.

In addition, personal money and professional cash flow sometimes intersect and merge. In this case, how do you get out of it and fully understand the state of your finances?

The right solution is to manage all your accounts from a single interface. An option offered by FINOM, in particular. You thus benefit from a dashboard with monitoring of income and expenses, cash flow, customers & suppliers, transaction history, monitoring of invoices paid on all bank accounts, etc.

Convenient to assess, in real time, the financial health of your business.

Track your cash flow at a glance with Finom

To know

Take advantage of a cashback offer on your FINOM Pro account. The principle is simple: if you use your account and especially your card, then the cashback compensates for the (already low) cost of the FINOM subscription.

3. Facilitate the transmission of your accounting documents

Yes, the management of a self-employed business is simplified, but that does not exempt you from certain declarations, taxes and duties. Often the easiest way is to hire an accountant to manage this aspect of your business.

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However, you will have to send him many important documents so that he can complete your declarations and other administrative procedures. But you still have to know what information to send and when. This represents a challenge for a self-employed person without any notion of accounting management.

FINOM offers the possibility of sending an invitation to the accountant to access the documents he needs. And it is only he who can have access to it. In this way, he can recover them easily and within the time limits set by the French administration.

For the auto-entrepreneur, it is the assurance of raising his productivity!

4. Remind customers before the invoice is due

Getting paid on time is another challenge for the self-employed. Between bad paying customers and latecomers, it is the survival of your business that depends on it.

The good habit to adopt is to follow up with your customers before their invoices are due. Ideally, start reminding them 3-4 days before. This enables late payments to be reduced by 30%.

You can, for example, send an email to check the receipt of the invoice and get news, find out if everything is going as agreed.

However, this exercise is time consuming and energy intensive, especially when you have multiple clients. Once again, the solution is a tool like FINOM, which automatically sends a follow-up email a few days before the deadline, in order to save you time.

Finom, financial service for entrepreneurs

Track and relaunch your invoices simply from the Finom interface

5. Choose a comprehensive management tool

Accounting management, cash flow monitoring, bank and virtual cards, etc. Even if you pay attention to everything, there are some aspects of running your self-business that can still escape you.

The solution ? Choose a complete management tool with a modern and fully secure interface. This financial department must centralize the main functionalities you need to better manage your business. This is what FINOM offers, by supporting – step by step – the self-employed in their daily accounting management.

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The service goes even further than a traditional banking application, with more useful tools, as well as advisers available by chat, email and phone.

So, to avoid management stress and focus on your main activity, opt for a suitable tool that helps you implement these good practices on a daily basis!

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