Wouldn’t it be nice if we could all make important decisions on just gut instinct and have them work out perfectly? Unfortunately, we don’t live in a perfect world, and when you have to make business decisions for your company, you need to have the pertinent facts in front of you if you want the best outcome possible. So, where do quarterly reviews come in, who performs them, and why should you care about them?
The first thing to realize is that for your financial statements to be useful, they must be accurate. Having a professional perform quarterly reviews of your bookkeeping entries is like putting a second set of eyes on one of your projects. Think of it like quality control, but of your financials instead of your assembly line. When an accountant performs quarterly reviews, they can often spot things that you have overlooked or could even do so if you looked at them several times.
As for why you should care about quarterly reviews, think of the adage, “garbage in, garbage out”. Do you want to make business decisions without the confidence that what you are looking at is accurate? Even if you have an in-house accounting staff, it is a good idea to have someone outside the company perform your quarterly reviews, not just for a fresh eye, but to be sure nothing is being done without your knowledge that you wouldn’t approve of.
At Balanced Bookkeeping of NC, we offer a variety of accounting and bookkeeping services for businesses in the Mebane, North Carolina area. Our quarterly reviews include a thorough inspection of your accounts, any quarterly adjustment entries needed, and a consultation to go over the financials with you, if desired, so that you know exactly what you are looking at. Contact us today to learn more.