A leader is one who knows the way, goes the way, and shows the way. – John C. Maxwell
Accounting may not be your business strength but don't count it out as a learnable business tool. When outlining your business you must consider the monthly expenses which will be incurred as well as the sources of income your expecting to pay for those expenses. But, how are you tracking the financial information? Whether using an accounting system or manually tracking, here's some information you should know.
Let's talk about -- what is a (accounting) worksheet? A worksheet is a multiple-column form used in the adjustment process and in preparing financial statements. As its name suggest, the worksheet is a working tool. The worksheet is merely a devise used in preparing adjusting entries and the financial statements.
When a company chooses to use one, it prepares financial statements from the worksheet example you see above. The worksheets make it possible to provide the financial statements to management and other interested parties at an earlier date. Fontenot & Associates Solutions LLC offers the professional support to streamline business processes.
What has your company designed to use? Comment on this blog post and share with other business owners looking to build or strengthen their accounting processes.
Remember, education is key and the tools to get you started are here.
My mission is to offer the best accounting and operations solutions and tips for entrepreneurs and small to mid-size companies worldwide seeking to close their process gaps with actual solutions.