Category Archives: 3 Controls

Being accessible to people

In running your own business you must keep in mind a few things when it comes to communication. Being accessible to your personnel and / or clients is a tricky matter. On one hand you undoubtedly want your own time, time where nobody can reach or contact you with business matters, but on the other hand, it is your business.

In this sense, it being your own business, you cannot really take time off managing certain matters. Now unless you have a reliable person to delegate some things to, you need to ensure you can be contacted at time of need.  Continue reading →

Confidentiality when it comes to client data

When thinking of your own personal dealings you have with companies, have you ever wondered why some information is asked from you? Or even more so, how they ensure the data doesn’t fall into third party hands? Obviously apart from the info you’ve consented to being shared.

Matter of fact is that some of it is really needed, i.e. e-mail address to send you the invoices, phone number to contact you in case of need and address to ship goods obviously, but why would they need your birthday or how many kids you have. And some could argue if the contact info is always needed in such detail.  Continue reading →

Audit yourself regularly

In essence auditing means checking the accounting data to ensure it’s accurate, meets all relevant standards and regulations. When you think about it, isn’t it something you also could do yourself?

Yes, there’s the compulsory audit, but regardless if you fall into the category of someone who has to have one or not, you can and should audit yourself. By no means should it be to the same extent as the auditor would come and look at your accounting, but in some areas it will probably go into more detail.  Continue reading →

General procedures related to contracts

No matter which type of agreements – client, supplier, employee etc., they all need to be managed and kept in certain manner.

First things first, all agreements need to be stored properly and safely considering their nature. For an example, employee contracts shouldn’t be accessible to unauthorized personnel and should be locked away securely. The same goes for bank agreements containing information that not everyone should have access to. Client agreement are most probably needed for sales representatives and accountants and vice a versa, supplier agreements should be accessible to people dealing with suppliers themselves and purchases in general.  Continue reading →

Contracts you sign off with your suppliers

The problem with the suppliers’ contracts is that they are all in different formats; they are on different terms suiting mostly the suppliers’ needs and what’s more, they are representing your business’ needs.

When dealing with your suppliers’ agreements, the first thing you ought to do is read the general terms. It’s an essential part of the contractual relationship wording out the basis of it. One hint here is to also take notes for your own base agreement you sign off with your own customers – maybe there’s an idea for you there.  Continue reading →

Agreements and contracts with your clients

You may be in a business without any need for customer agreements, like selling goods in a store, but you may also every now and then need to have signed contracts with your clients, i.e. you’re in a longer term relationships or where you’re not selling on spot, but making credit sales (meaning they get an invoice and will pay at a later date, usually in such situations you need signed agreements).  Continue reading →