Organized Bookkeeping

Bookkeeping Challenge

Bookkeepers need to have quick reporting capabilities.  The ability to quickly respond can greatly impact how your client views your work quality.

Can you make the following reports in under five minutes?

  • Sales Report by Product – Budget to Actual Report for the past month?
  • How much did your client spend on Marketing/Advertising last year?  Can you break it down by spending category?
  • What is the client’s gross margin?
  • Do you know the monthly depreciation expense?
  • How many overtime hours were there last month?  In the last year?
  • Can you break down the expenses into different departments?
  • What were the equity payments last year?
  • How much did the company spend on interest last year?  Can you provide a list by loan?
  • Is it Cash or Accrual?

If it would take a day or more to prepare a basic report or answer a basic question, consider changing your process.