Here’s why you should reconcile your revenue monthly:
Accuracy: You catch discrepancies early, preventing bigger issues down the line.
Insights: Regular reviews provide insights into trends and anomalies, helping you make informed decisions.
Credibility: Consistent reporting builds trust with stakeholders, clients, and auditors.
So, how often should you reconcile? Here’s a simple guide:
1. Monthly: Perfect for most businesses. It keeps your data fresh and actionable.
Bonus: You can align this with your financial close process.
2. Quarterly: If monthly feels overwhelming, start here. Just be aware of potential gaps in data.
3. Annually: Not ideal for most, but necessary for some smaller operations. Just remember to set reminders!
Don’t let inaccurate revenue numbers haunt your reports.
Contact us to see how much easier it is to report correct revenue numbers monthly. Get your financial clarity back on track!
