Quickbooks is your friend.

Here is what I see.  Business owners, as a group, do not like quickbooks, don’t appreciate it and – worst of all – do not treat it as a management tool.  You are missing an opportunity.

There is a vicious catch 22 going on between you and your CPA firm.  Typically, it is your CPA that sets up your accounting software, creates your chart of accounts and gives you some rules on how you need to do things.  To be fair, your CPA is doing all this work primarily from the perspective of doing taxes – maybe from the perspective of what your banker needs.  It is very rare to design a set of financial statements (and the accompanying chart of accounts) from the perspective of you, the business owner.  And that’s because you get your financials from your CPA, probably look at the profit/loss for the year then throw the entire package into a drawer.  You’re not using them.  One of the best business monitoring tools you have is sitting at the bottom of your desk drawer.

Quickbooks is really a great tool.  It is the screw gun compared to the screwdriver.  It is the circular saw compared to the hand saw.  Lots of tool analogies but you get my point.

Here’s a challenge.  Give me a copy of your quickbooks file – or just your financial statements for the last 3 years.  If you are doing more than $500,000 a year in sales, I will find at least $5,000 of savings for you.  Probably more.  What would your reaction be if you bought a lotto ticket and won five grand?  You would be thrilled – I know that I would be.  So don’t leave money on the table.  Get with me or get with someone that knows how to read and interpret your financials.  There’s gold in those numbers just waiting for you to pluck and put into your pocket.

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