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You can kill a great joke with bad timing. And, you can kill great bookkeeping with bad timing, too. Bookkeeping is not just about entering the numbers; it’s about entering the numbers at the right time.
If a customer pays you to do some work, their money should be reflected in the month you actually deliver the product or service. This sounds basic but it’s often ignored. Here’s why it’s important:
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Everyone loves to quote fixed costs when trying to get investors to invest or when trying to predict potential profitability. That’s because fixed costs seem nice and predictable. Since they aren’t impacted by customer fluctuations, they make for easy calculation. Unfortunately, many costs that we called “fixed” aren’t actually fixed.
Tags: Accounting, Accuracy, Bookkeeping, Cost Of Living, Currency Fluctuation, Economic Assumptions, Fixed Cost, Fluctuations, Inflation, Investors, Mongolia, Office Space, Period Of Time, Profitability, Quote, Staff Increases, Staff Salaries, TelephonesNew Year and new ideas. As most of you know, we used to have a pretty nice blog and last year we took it down (why I don’t know). We plan on starting it up again – and this is it.
What better time to re-start a blog than with a whole new logo and design?
Stay tuned for application reviews, bookkeeping tips, and the whole nine yards.
Tags: Application Reviews, Better Time, Blog, Bookkeeping, Logo And Design, Logo Design, New Year, Whole Nine Yards
