Process: AR – It is 11:00 PM. Do you know where you cash is?

Cash flow is king.  Is your bank account reconciled?  WHY NOT!  There is a SIGNIFICANT amount of employee fraud, especially at small to medium sized [...]

Process: GL – Review it or Lose it?

Or was it use it or lose it? Review the AP and AR registers weekly, not all at once. This also includes inter-company transactions – essentially a form of AR [...]

Process: GL – New Fitness Program

Get Out There - walk the floor, ask the 5 Why’s.  Find out why, why, why? Plus, you need a break from sitting at your desk anyway, why not make some new [...]

Process: GL – Taxes Again?

Death and taxes, they are always out there and headed for you. Payroll taxes reconciled?  Do it during the month, not during the close.  It is not very [...]

Process: GL – In My Estimation

Estimate, estimate, estimate.  So your payroll accrual is off by $278.25. So what? What decision that you would make would be changed by being $300 off?  [...]

Process: GL – Expense Creep

Do you have a process in place for systematically reviewing your expenses?  Revenue?  Balance sheet? Are you looking at just one month by itself or the [...]

Process: GL – Why? Because it’s there

Do you know why you have the expense? Of course you do, because it’s always been there. Do you really know why you have the expense?  Find out what it is, [...]

Process: GL – Who’s on First?

Is the expense captured in an account? Is it the exact, technically correct accounting classification? Maybe not, but it's been captured in a bucket that [...]

Process: GL – Book it Dano!

Current portion of long term debt - book the entry now. Do you book it monthly, quarterly, yearly? It can have an impact on your balance sheet ratios as [...]

Process: GL – Amortizing to Infinity

Are you really amortizing a prepaid expense of less than $100?  What is that doing for you? Are you going to change a decision you made because of an [...]