Tip of the Day #4 - Reading Your Financials
Barbara Steckly
Knowing How To Read Your Financial’s - Are you following up on these critical key areas?
Make sure your bookkeeper is reviewing your financial’s with you on a regular basis, weekly, or monthly is recommended. Set up budgets and projections. This way you have an idea of what your financial picture is supposed to look like and you can spot discrepancies easier.
The more you know about your financial’s, the less you risk falling victim to a fraudulent bookkeeper or simply running out of cash. If you are working with a bookkeeper, that consistently does not submit financial reports to you or does not think it is necessary, a change may be needed. Learning to run your business by the numbers can be the savior of your business if there is a down turn in the economy.