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Tracking financial activity.

Publication: Westchester County Business Journal
Publication Date: 19-SEP-05 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Tracking financial activity.(accounting methods)

Article Excerpt
How do I track financial activity by day, by week. by month, by quarter? What kind of accounting support do I need?

We track financial activity to tell how well our companies are doing at making money--past, present and future and to identify additional opportunities to get better at making money. Here's the bottom line. Get your records up to date. Put in place controls to limit opportunities for error. Audit for accuracy.

Bookkeeping can be a tedious chore. As a general rule, you want to enter things daily; it's easier than trying to remember what happened a month earlier. Sometimes. I hear from business owners that their financial information is several weeks old, sometimes months old. That's crazy. today's accounting and automation tools, your records should be up to date. within 24 to 48 hours.

If your recordkeeping is getting behind, look for opportunities to streamline. One client of ours recently found he would...

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