Reporting need not be complex or bewildering. Let me show you how.
Today I’d like to talk to you about business reporting on a basic level.
What I find helpful to most business owners is to be able for them to extract the real and important data from their company financially and put it into a basic business report on a monthly basis to help them navigate the direction of their business. Most people are at the front end of the business and are applying their trade as such, particularly well, but don’t have a real handle on the metrics of the business. To start off, most businesses have some kind of digital accounting system whether that is MYOB or Zero or something of that nature. Unless you’ve got something like that,it’s going to be difficult. Therefore, step one is to ensure that you do have an accounting system within your business, a digital accounting system. Secondly, you’ll want to have a bookkeeper, or someone that’s taking the role of a bookkeeper within your business to make sure that the data that’s going into your accounting system is accurate, and then from there, you want to make sure that the data is up to date at the end of each month.