Do You Have A Financial Dashboard?
Most small business CEOs have their bookkeeping fairly well in in order. But, are you using the numbers in your accounting to make key strategic decisions about your business? CASE STUDY Sally has four stores on one accounting system - the numbers are well kept for each store and for the company as a whole. She has managed all of her stores pretty well with traditional accounting for years - she can track all of the revenue daily and check the cross margins. But she can't print a profit and loss statement (P & L), and even if she did, she wouldn't know exactly how to use it. As far as Sally knows, she sees a P & L once a year when her accountant sends it along with the tax returns at tax time. ...
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