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Avoiding Stormy Seas through Monthly Financial Statement Review

Author : Dennis Najjar
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There’s a reason why so many businesses are turning to finance accounting outsourcing for the handling of their bookkeeping issues—because not everyone was born with a knack for numbers. And because not everyone inherently understands their importance, or what they even mean. At least, not to the extent that a professional accounting service does. If your company has graduated from the need for a single bookkeeper to a firm capable of managing your growing books, it’s time you took a look at a third party accounting service capable of balancing your books and producing monthly financial statements online.

These days, there’s far fewer concerns about the security of transmitting such sensitive information via encrypted internet channels—and when you work with an offsite accounting firm, great care is taken to ensure absolute security. With that worry out of the way, there’s one less reason not to outsource your accounting needs. So why are some businesses still resistant to the idea?

Ultimately, it all goes back to the previously mentioned lack of understanding about the importance of accounting concepts like balance sheets and monthly financials. What’s truly frightening is the fact that a vast majority of people who run businesses don’t understand the critical role that financial statements play in knowing fundamentally important things like whether a company’s turning profit or gushing money. In truth, you can’t “sense” profits and you can’t “see” losses. Far too many businesses in the past have sailed straight into rocky cliffs because they were under the impression they were doing great, when in reality they’d ventured way off course.

Don’t let this happen to your business. If you don’t have anybody at the helm who can review your monthly financial statements and tell you precisely where you’re at, you should consider finance accounting outsourcing. By doing so, you can receive your monthly financial statements online in a timely manner that’ll give you advance warning if you’re sailing into stormy waters—and advice on what to do to change course.

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