Accounting by Art offers Customized Reporting for your small business. Your accounting software can run reports, but unless you know which reports would be most beneficial for your particular business, you may be missing key information you need to ensure your business’s success.
Quarterly financial statements provide more timely financial data to internal and external stakeholders. Monitoring the financial health of your business can make the difference between failure and success. Financial statements show business trends, the rate at which you are collecting receivables, the rate at which you are paying creditors and any cash flow problems.
It’s very beneficial to know your monthly averages when it comes to expenses and revenue. It may be even more beneficial to know the highs and lows so you can plan and budget accordingly. Being prepared to increase or decrease expenses based on historical revenue trends can ensure your bottom line is preserved.
Remember, it is a good thing to know when to ask for help when something is outside your area of expertise. You do what you do best, and so will Accounting by Art!