PROPER FINANCIAL SYSTEMS ARE CRUCIAL TO BUSINESS SUCCESS
I once took on a client who quite casually informed me that he had never seen his company's accounting records. My jaw dropped. Even more shocking? He didn't even have access to them! He hired an acquaintance, let THEM link his bank accounts, and turned them loose. Needless to say, he had no idea whether he was even making money! Spoiler alert: he wasn’t. Another figured if he could see money in the bank account, it meant he must be profitable and could spend as he liked. Day to day expenses? Long-term liabilities? Payroll? What are those??? How do you think team members who don’t get paid correctly and on time react? One client wanted to apply for business loans to further expand his multi-location operation. But he had a family member doing his accounting, and his financials were a rat’s nest of mismatched or misclassified entries and duplicate transactions. Reports showed him so far in debt nobody would loan to him, when he actually should have been approved easily! How about the multi-million-dollar investment endeavor that had no clue they owed SIX FIGURES worth of unpaid bills because nobody was properly handling their accounting systems? They’d never even seen a Profit and Loss statement or a Balance Sheet. Are you seeing my point? Bad bookkeeping can leave you unable to find funding or investors, in painful amounts of debt, scrambling frantically at tax time, and potentially legally liable for all kinds of horrible things! Oh, and your CPA secretly HATES when you show up at their door. A business can NEVER be successful if they don’t know where their money is going or how it is coming in. TAKE ACTION NOW. Let a certified professional make a difference for your small business. Message to set up your free consultation today.