Unlock the secrets of strategic financial planning as I, Scott Geller, team up with Phyllis Barnett from Neo Consulting to navigate the intricate world of budgeting for small businesses. Phyllis, leveraging her wealth of experience as a fractional controller, emphasizes the pivotal role of setting future financial objectives while meticulously reviewing past data to ensure your financial inputs are anything but "garbage in, garbage out."We unravel the art of optimizing your business's financial structure, diving deep into the nuances of organizing a chart of accounts for clarity and comparability. Learn how striking the perfect balance in account groupings can lead to more insightful financial reporting and performance analysis. Phyllis shares her valuable insights on dissecting costs to enhance understanding of profit margins, which is crucial for maintaining a healthy financial track record and making informed decisions.Phyllis spotlights using QuickBooks flexibility and budget features that cater to evolving business needs. Discover how QuickBooks allows businesses to manage multiple budgets, adapt to changing conditions, and distinguish between budgets and forecasts. We'll highlight the importance of both annual budgeting and periodic forecasting as essential components of effective financial management.Podcast Recommendation: Revolutions by Mike DuncanFind out more about Phyllis Barnett: [email protected] us a text

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