Do you get your financial reports on time each month? Entrepreneurs can’t make strategic decisions without in time financial report. Bookkeepers tend to waste time on things that are technically correct but practically useless. Learn a simple fix that you can implement today to change that! 

#Time Stamp Short Note:

Today’s topic – You are Wasting Thousands in Bookkeeping.

• [00:29] Michael’s friend reached to him this morning.
  • [00:32] A typical accounting problem – bookkeepers can’t close on time.
    [00:38] Result – He can’t make the strategic decisions on the monthly basis

• [00:49] What causes the problem? — Accrued revenue.
  • [01:10] What is accrued revenue?
  • [01:20]Why counting accrued revenue is useless for small business

• [01:33] Solution – send out invoices on weekly v.s monthly basis
• What can be fixed?
  • [01:42] Have accurate financial
  • [01:51]Fix cash flow issue

Suggestion: Don’t use complex accounting concepts to fix simple business problems. Leave us a comment or give us a shout-out and tell us what you think!