Whether we are working with a client on website and marketing or providing them business coaching, the importance of accurate bookkeeping and up to date monthly financial reports always becomes part of the conversation. We find that many business owners that do receive monthly financial reports don't understand them well enough to get the best use of the information, and in some cases the business owner is not even receiving monthly financial reporting from their bookkeeper.
One of the most important aspects of the business coaching we provide is to help the owner move from "perspective" based decisions to "fact" based decisions, and this transition can only occur if there is a consistent and detailed review of current financial reports.
Beyond measuring the success of your business and helping you make fact based decisions, having your bookkeeper provide you with accurate monthly financial reports is also valuable for the following uses:
obtaining capital for business expansion through bank loans or investors/partnerstimely compliance with state and federal filing
acquiring vendor/supplier accounts payable
income tax preparation
We know that as a business owner you are not a bookkeeper. In fact you may not have had any exposure to bookkeeping and financial reports before you became a business owner. We get it! We understand that you probably do a quick review to see the gross revenue and the net profit because you do not have the training to make use of the other information on the reports. And in many cases we find there are other reports our clients could be getting that would help them better manage their business, but they don't know those reports are available to them.
If you are unsure about your bookkeeping process or resulting reports or if you just want to learn more about how to use the reports to manage your business, take advantage of our Free Coaching Session for this topic 619-798-6774. It is our desire to help you reach the business success you desire!