WHY MONTHLY ACCOUNTING IS IMPORTANT.
PREVENTS ERRORS
Monthly account reconciliation helps keep your bookkeeping in sync with your bank account. It helps catch errors and can prevent them from happening again.
SAVES YOU MONEY
Monthly account reconciliation helps you identify where your money is going and any hidden expenses. If you are spending too much money in one area you can make adjustments that impact your bottom line.
FORECASTING
Monthly accounting allows you to see where your business is currently, review the past for trends, and project how business will be in the future. Knowing your financial needs based on real transactions allows businesses to plan for any future financial needs.
PROFIT VS. LOSS
Have you ever made a lot of money on a job but can't see where it went? Monthly accounting gives you the opportunity to see if you are making money, losing money or just breaking even.
THE BIG PICTURE
When you do monthly accounting of your business transactions you can get detailed comparisons of your business year over year. Get peace of mind for those uncertain times because you were able to plan ahead. Grow with a plan for 2, 5 and 10 years because you are equipped with additional knowledge to help you be successful.