The Bookkeeper Bath: How to Clean Up Your Financial Records and Polish Your Business

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The business world runs on numbers. But not all businesspeople are great at collecting, storing, retrieving and publishing their financial figures. Each executive must decide what is best for their business. Either learn how to keep better financial records or hire someone to do it for you. Ignoring your financial records will come back to bite you at some point whether you are dealing with a funding source, the government or the legal system.

Organized financial records can help your business by:

  1. Clearly presented and accurate financial data can reduce your business risk profile.
  2. Debt and equity capital can become more accessible at better terms.
  3. Your CPA can be more accurate with your tax returns which may reduce your audit risk and lower your accounting fees.
  4. Business planning becomes more efficient with shorter financial forecasting meetings.
  5. Key employees have more time to leverage their talent and grow sales.
  6. And most importantly you can respond to financial trends faster and avoid strategic mistakes.

Bookkeeping and accounting services, financial software, and your own record keeping efforts are the best tools for excellent financial reporting to capitalize on these business opportunities.

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About Michael Shelton

Your Business Coach Facilitating Delegation and Work Group Engagement Michael Shelton has over twenty-five years of business and military accomplishments, including extensive experience with one of the largest, publicly traded real estate investment trusts (REIT). He is a qualified business coach with assignments in cross-functional work group management, strategic planning, unit leadership, joint venture acquisitions, executive education, mentoring, training and merger integration. Michael has accumulated best practices for building committed work groups from more than $4 billion of capital markets transactions and commercial property development. He served as a commissioned officer and helicopter pilot in the U.S. Army, and earned his MBA from The University of Arizona. Michael has served as a major conference panelist and is the author of Cash Flow Rich, Winning Ways to Evaluate and Finance Real Estate. Today, he helps business owners get more work group engagement as President and CEO of Shelton Business Services, LLC in Scottsdale, Arizona. Disclaimer: I don't offer investment, legal or tax advice. Talk to your broker, accountant or lawyer for investment, tax and legal help. I might own stock in the companies I mention on-line. My posts, tweets and other on-line activity are my personal thoughts and don't represent my employer or company.
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4 Responses to The Bookkeeper Bath: How to Clean Up Your Financial Records and Polish Your Business

  1. Pingback: Leverage Bookkeeping To Work On Your Business, Not In Your Business | Capital Sauce

  2. Pingback: Impress Your Lender With Organized Financial Reporting | Capital Sauce

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