Confusing Your Route With Accounting Reports?
Financial reports can seem boring and pointless to many but think of them like shipping forecasts.
By looking at past information new forecasts can be created steering a business to calmer waters, and ultimately, business success.
A good boat captain will check the wind, rain, tide, etc. before setting sail and listen out to forecasts during a trip.
Weather can change suddenly and it’s the same in business…
Think about a situation where something came completely out of the blue with the finances? Wouldn’t it have been nice for someone to point this out to you before it happened, and avoid it altogether?
The goal is to use past information, i.e, your financial reports to predict what might happen moving forwards and help you make better decisions.
Being a business owner requires making constant decisions which can be overwhelming.
You’re busy, you have 10 million things to do, and how can you make the right choices without solid information?
The information you need comes in the form of your financial reports.
Yes, they are just numbers, but they can tell you so much about what’s happening within the business – where you’re making and losing money, and guide you on what you should be spending your time on.
A captain doesn’t usually steer the ship in an awkward zig-zag pattern. He or she knows exactly where they are heading and plans their route to get there in the most effective and quickest way.
It’s the same in business, you want to sale straight to your destination not be distracted by trial and error, and use an incorrect and outdated shipping forecast to try and reach your destination.
A great bookkeeper can maintain accurate reports through regular and correct bookkeeping, and explain your reports to you in a way that makes sense to you.
They can translate the numbers and communicate how your business is really doing and where improvements can be made.
So if you’d like a financial translation of your reports or you need someone to keep them up to date, contact us.