Streamlined financial management: daily, weekly and monthly accountability
Business Advisory Services Update
At the end of the month, monthly Financial Accounts should be prepared for each business operation, with a comparison to budge, with monthly KPIs and Business Metrics prepared.
This is the process that should take place on a daily, weekly and monthly basis. This is then repeated again each month, to ensure that there is a 52-week of the year accounting process.
This doesn’t mean that the accounting firm has to be intricately involved in each operation. The key is to set up the system and, for the preparation of the daily reports, a team member within the SME would be responsible for the report. The accounting firm is to ensure that they are included on the distribution list for that report, in order for the firm to monitor that it has been prepared and react accordingly if required.
If you would like to discuss this subject further, contact us on 07 4724 1118 or email .
