Introducing management accounting
So, you’ve implemented the Action Plan to set up a 12-month Budget for your Client and linked it to their bookkeeping system (see last post).
Now for the next Action Plan ‘Introduce Management Accounting’. This shows you and your Client how to set up monthly /quarterly management accounting reports from the chart of accounts created for the Budget.
Now your system will create monthly / quarterly reports comparing actuals to budget so you can see at a glance which revenue streams and their direct costs are ahead / behind.
This sets you up to introduce the next Action Plan ‘Financial Management’ which is where it gets really interesting.
Practical stuff from AI Business Advisor®
