Yeah. And, um, and me, the reason why we really, uh, love the biweekly schedule as that and some it’s a set time. It’s expected. You can put it in your calendar, you can set it and forget it. Um, and especially for those people who are paying their employees by meekly, you want to make sure your banks are reconciled before you pay them. Um, right. Cause you don’t want to end up with, let’s say I do have a bank balance of 10, $10,000, I can P uh, my one employee and then you realized, um, there’s the nuts then in check for eight grand that will really affect your cashflow and would really stop you from doing business just to, just to take care of that. Right. Um, yeah. So, um, what type of reports can you ask your Edmonton Bookkeeping to provide? Right.
So, um, your Edmonton Bookkeeping really should be able to provide you with a balance sheet and an income statement. Those are the two reports that you really need to, to be able to look at. Um, you want to look at those, um, uh, like the balance sheet first and then the income statement to see if there’s any anomalies on them.
Yeah. Cause when, uh, if your balance sheet has anomalies, chances are your income statement is wrong. And, um, I know most of the business owners, they rely heavily on the income statement. Right? But how can you rely on something, uh, or on a report that’s possibly miss, uh, has misleading information. So it’s important to, um, make sure that, uh, your account, your, your accountant or your bookkeeper able to, um, answering your questions about these anomalies in the Apple, they’ll be able to explain it. Yeah, for sure. Um, how often do you need entering financial statements?
So again, your bookkeeper, um, should be providing them every two weeks when they do that. Um, when they do your Edmonton Bookkeeping, um, and they, they provide you with the reports, that’s how often you should be seeing them and talking to your bookkeeper about them. Also with the, um, what we like to do with our reports is we like to look at three or four or five months, um, history with it. So we’re not just looking at the month that you’re working at in, um, you can look at the months before as well. That’s a really good way to tell if there’s an anomaly, um, you know, your bookkeeper can question why was this expense so much higher in this month. And you know, sometimes there’s a good reason for it. Maybe your dues, you pay your annual dues and that was the month that they were doing, but maybe it was just that that, um, transaction got posted in the incorrect account and so that can be fixed again right then rather than waiting till the year end. Yeah, absolutely. Um, what are the advantages of having up to date?
Yeah, again, like we said, having up to date reports, then the day to day decisions that you need to make as a business owner, much easier to make if you have the information up to date rather than, again, like we’ve said so many times waiting until the year end and finding out that you really didn’t have the money to make that decision.Um, and again, um, I just wanted to clarify the, these might be clean meetings doesn’t have to be long and it doesn’t have, you don’t have to sit with your Edmonton Bookkeeping every two weeks and spend two hours on them. It can just be a quick phone call to just, um, uh, clarify any of the issues. It gives you better decision and it gets you a better reports, uh, to be [inaudible] to be sure decisions on them. Yeah,
and I found that those meetings about shorter as I got to know the clients back exactly. The more we did the Edmonton Bookkeeping for them, uh, the, the easier that bookkeeping became. And so then the meetings were not long at all.And the strategy part of it can come every, every month is great. Yeah. If you need to. That’s great. Yeah. Um, what questions can your bookkeeper be able to answer it? Both the reports I think we touched on.
Yeah, you touched on it quite a lot, but, um, basically the, the bookkeeper you should be able to see with just looking at those reports, what looks wrong on that month, what, um, what’s out of place, why did this happen? Um, those are all things that your book she keepers should be able to, to answer for you. And I mean, for every industry that it could be seasonality or it could be, um, it could be anything. But at the end of the day, most of our businesses, um, that are scalable are repeated on kind of the same activities over and over. Right. So having those comparative financial statements will, um, make you, um, or let you, uh, see those, um, anomalies based on comparing them month to month. Right? Yeah, that’s right. That’s great. Um, how can a good bookkeepers safe?
Yeah. So a good bookkeeper is going to save you money. Again, like we said, having your reports ready every two weeks, they’re going to help. Those reports are going to help you to make decisions wisely in your company. Um, they’re gonna help you when you take your information to your accountant at the year end. Um, you’re going to save money there cause they’re not going to have to do that Edmonton Bookkeeping for you. Um, yeah, the bookkeepers can just
definitely save you money in so many ways. That has ended up, especially for people who doesn’t do, um, monthly billing rates like we do. Um, let’s say your current bookkeeper is, um, uh, charging you on an hourly basis, then the efficiency of having a good bookkeeper will, uh, will minimize those costs. Yeah, that’s great. Yeah. So they can read, they can save you money in a lot of different ways, not just, um, uh, technical. Um, no, let me show you in bookkeeper, but also by providing you, uh, the proper information. Yeah, for sure. Yeah. Sure. Yeah. So I think that’s all we have for today. Um, I hope you guys liked our video. Please don’t forget to click like and subscribe for more information about, um, bookkeeping.