strategic bookkeeping 102: best practices you can …
TRANSCRIPT
MISSIO
N
System six believes that our clients’ success is our success.
We provide high-value bookkeeping and accounting services to small business owners, helping them achieve their goals while mutually pursuing profitability, all to the glory of God.
Mission
OPERATIO
NALFO
CUS
Business Process Model
Expectations What would you like to learn this morning?
Systems & OrganizationQuickBooksFinancial PeaceIncreased ProfitBetter Understanding of your numbers
OPERATIO
NALFO
CUS
Business Process Model
Expectations What is your BIG problem?
Need for Systems & OrganizationAccuracy with financial data enteredConsistency in invoicing, reconciling Audit ProofingUnderstanding ProfitabilityManaging RiskClean-up: Poor Bookkeepers in past
4 KEYA
REASO
FBU
SINESSFO
CUS
Business Process Model
Leadership
Operations
Products & Services
Sales & Marketing
OPERATIO
NALFO
CUS
Business Process Model
Operations Financial Controls
Systems for Duplicate-able Success
Excellence in Execution
Daily/Weekly/Monthly/Quarterly/Annually
Strategic Review
Measuring Success.Are goals being reached?
FINAN
CIALCO
NTRO
LS
Financial Controls “I’ve got QuickBooks…
Now What??
QuickBooks by itself isn’t a financial system for success
FINAN
CIALCO
NTRO
LS
Financial Controls
“If you are like me, most entrepreneurs have no idea how to setup systems and structures for managing their money.
FINAN
CIALCO
NTRO
LS
Financial Controls
What is the solution?A step-by-step methodology for bringing structure and order to your bookkeeping and financial management.What you should be doing and when you should be doing it.
FINAN
CIALCO
NTRO
LS
Financial Controls
“A good financial system makes your business run. Clean bookkeeping that provides good instrumentation is worth a lot of value.”
Steve NelsonCPA and author QuickBooks & Quicken for Dummies
HO
WTO
MEASU
RE
Excellent Execution How to
MeasureBusiness
vs. Personal
Separate Bank
Accounts
Good Record Keeping
Audit Proofing
Tech
QuickBooksMozy
Fileworks
Systems Checklists
AccuracyInvoicing
Day-to-dayReconcile
WHAT
TOM
EASURE
Financial Controls What to Measure
Income/Expenses
SALES
By Biz Segment
SALES
By Customer
EXPENSES
In Detail
Balance Sheet
Cash on Hand
A/R
Accounts Receivable
A/P
Accounts Payable
Debt
FINAN
CIALCO
NTRO
LS
Financial Controls
“If you can’t measure it, you can’t manage it.”
Steve LaFeverFounder and Creator, Profit Mastery University
WHY
TOM
EASURE
Strategic Review Why to
MeasureProfit
Pay down Debt
In Your Pocket
Expand Business
Performance
Work In the Business
Key Performance
Indicators
Goals
E-Myth
Steer the Ship
Work On the Business
4 KEYA
REASO
FBU
SINESSFO
CUS
Business Process Model
Leadership
Operations
Products & Services
Sales & Marketing
WHY
TOM
EASURE
Strategic Review Gross Revenue
is a function of:
# Buyers
$$Average
Transaction Size
Frequency(Reasons to
Buy)
WHY
TOM
EASURE
Strategic Review Revenue
Ratchet
##
Increase Buyers
$$Increase Average
Transaction Size
Increase Frequency
(Reasons to Buy)