Why real-time business intelligence needs automated bookkeeping
This is a blog about automated bookkeeping in plain language. We reached back into to the Xero Blog archives and found a wonderful 2 min read. The author lays out her key metrics that tell the financial story of your business. A few of those key components she explains are cash/cashflow, money owed to your business & money your business owes.
When you use actual data and rely less on your gut feeling you’re capable of making intelligent business decisions. All of us are guilty of looking at our bank accounts and then rushing to judgement about a choice we need to make. Instead, follow a simple formula using automated bookkeeping.
“This formula allows the business owner and their advisor to see what is happening. Having a fully automated bookkeeping process is vital to achieving this. Not having a system in place is a direct opportunity cost to the business.” Check out the magic formula click here to read the full article. Also, I can help get you started, contact us!