AdministratorSeptember 27, 2018 at 9:13 pm
I like how you have taken your power back in the area of “financial planning and strategy”. Often small business owners abdicate responsibility to their bookkeepers (and/or accountants) who end up making decisions that are not always in their clients best interest. The way a typical chart of accounts is set up is one example of this that I see all the time. It is designed to give data to the tax department, not to provide accurate income/expense data to the small business owner.
Great job James, The lesson here…. know how money flows in and out of your company, track it accurately, look at the numbers in a way that makes sense to you. Know what you want and have a system in place to hold people accountable to give it to you.