About Knowing Your Numbers

Marcus Lemonis the star of the CNBC’s TV reality show called The Profit always informs business owners during the show that

“If you don’t know your numbers, you don’t know your business”.

This is Using QuickBooks Academy’s Mission Statement. And in order to bring our Mission Statement home to business owners, we believe that

“Knowing your numbers starts with understanding how your numbers are generated”.

Using QuickBooks Academy is an off shoot of Reliable Bookkeeping Services, an accounting firm located in Lafayette, California. We have a passion for business and especially for businesses to succeed. Usingquickbooks.com is a result of what we found out while providing bookkeeping services to our clients. Our discovery was that the understanding and utilization of the accounting function is one of the most neglected functions in most businesses. Most businesses have what we would like to call a tax accounting setup in their businesses. This is an accounting system setup where the accountant’s or bookkeeper’s primary function is to prepare the business books solely for tax preparation and filing purposes. Business owners and/or managers with this kind of setup at their businesses we have found out cannot provide simple answers to important questions like:

  • how much money do you make in total?Slide-Using-Quickbooks-Knowledge
  • what are the daily, weekly and monthly sales totals?
  • what are the current cash totals available?
  • what are the monthly payable numbers?
  • what products are selling?
  • where does the profit come from?
  • what are the major expenses for the business and how much are they?
  • what are the overhead expenses?
  • how does the business compare to last year at this time? Last month? Last quarter?
  • what are the most important numbers you would like to see on a daily basis, weekly or monthly basis?

Our goal is to use our experience and the tools we use in the field to show business owners and managers how to setup a good accounting system for their businesses. This we are confident would help them understand how information derived from an accounting system can be critical in improving the growth and profitability of the business.

We believe that:

  1. Slide-Using-Quickbooks-DecisionsAccounting is the function of business that gathers data and information from all the different aspects of business. Business owners and managers can then use this information to develop knowledge and wisdom and then also use them to make better business decisions which in turn would make businesses more profitable,
  2. If you are not intimately aware of what is going on financially within your business, you may develop critical problems before you even know it, and
  3. Long term survival depends on your understanding of your business’ financial condition at all times.

We are confident Using QuickBooks Academy courses and packages would help you get to know your numbers better, because not knowing your numbers is like driving a car blindfolded. And we all have a pretty good idea of what will happen if one does that!

 

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