Is your Business Game Score Accurate and Timely?
Imagine a sporting event ( in this case a basketball game) where no one is keeping score. Or alternatively, they’re keeping the wrong score. In a competitive world, these scenarios do not make any sense. In fact, we might even wonder what’s the purpose of playing in a game without keeping score or not correctly keeping track of the score. Conversely, you’re watching the game where the score is being kept…. and accurately. Now every time someone scores, your eyes turn towards the scoreboard. Can you relate to this? . Looking at the first scenario, running a business without accurate and timely financial statements is really no different. However, in the second scenario, it’s completely different. It’s also a more enjoyable game.
Often small business owners don’t know the score or it’s not kept accurately and in a timely manner. So they have learned to not trust their financial statements over time because they are either inaccurate, not timely to have any relevance, or both. The number one priority of an accounting professional is the preparation, analysis, and presentation of the accurate financial statements on time every month.
There are three core statements that drive this monthly reporting process are the profit and loss statement, the balance sheet, and the statement of cash flow. There are lots of reasons and issues that cause the financial statements to not be timely or maybe inaccurate, so it is no wonder many business owners do not trust them. But these issues can and should be resolved so that owners know the score when they need to.
At the Storytelling Beancounter, our goal is to help the business owner with that. We have implemented processes and procedures to provide financial information that is relevant, timely and accurate. Ideally, most small businesses would finalize the prior month’s financials by the 15th or 20th of the following month. Now with online real time technology, the bar has been raised with a shorter turnaround time. Exceptions may occasionally cause slight delays, but these should be rare exceptions. With accurate financial statements in their hands in a timely manner after the completion of the month, business owners are empowered to make relevant, impactful, and correct decisions to improve the profitability of their companies.
Here are some of the ways businesses can benefit by using our PRIME Services to run their operations efficiency and have timely, decision making information at their fingertips:
|Proactive||Focusing on decision making information and tools|
|Reliable||Data that is accurate and supportable|
|Insightful||Data and information that foster contemplation and discussion, both strategic and tactical, that actually improves performance|
|Meaningful||Via real time, Cloud computing technology using integrated apps so you can spend your time improving your business, not analyzing hard-to-read and even harder-to-understand reports|
|Efficiency||Achieve operational efficiency by streamlining business processes via online technology|
Our online accounting services are cost-effective, flexible and comprehensive. It includes online accounting software as well as a free virtual office setup from to help you to improve efficiency and productivity in your business. We act like a virtual accounting department for your business. Get the financial help you need, on your schedule and at your finger tips.
We assist you with the practical day-to-day financial management of your business. We start off by helping you to maintain timely records to make informed, proactive business decisions.
We provide you with periodic monthly, quarterly, semi-annual and year-end accounting reports. In addition, we take the time to help you understand the meaning behind the numbers.
Online Accounting also includes our Accounting Help Desk Services.