Oh, the Stories That the Accounting / Bookkeeping Figures Tell. Some Scary, Others Hopeful or Bright!
Some say accounting / bookkeeping numbers are hard to understand or even follow, just a jumble of digits. In reality, these numbers tell the story of a business. One story is told for the tax man, another for the banker and another for the owner or manager. Each story highlights its focus based on the rules of taxes, banking, and sound management of a business. All three are important and powerful… be it good or bad.
Bank Reconcile: That Time of the month
If you are in business or managing a business, once a month you get a bank statement for each bank account. Many of us set the statement aside to look at later. (over 60% from my experience). Never to look at it again.
Others quickly review the checks, deposits and bank charges… Assume everything is correct and move on. (30% or so of us).