I can spot the telltale signs that one person is running the whole show almost immediately when reviewing a new client’s books.
They’re entering invoices, approving payments, reconciling the bank account, and managing payroll. Outwardly, it might look like efficiency. But to me, it’s a red flag that there are some serious risks in a business
I don’t say that to scare you. I say it because I’ve seen what happens when there’s no separation of duties. Small mistakes snowball, cash flow dries up, and worse, it’s easy for fraud to slip through undetected.
This is such an important topic that I wanted to make sure to cover it on Your Numbers Are Talking.
Some of the key takeaways / things to watch for are:
1. One Person Controlling Your Finances Is a Risk, Not a Convenience
2. Small Team? You Still Need Structure.
3. An Outside Partner Can Be Your Built-In Check
Want to get the full details? Head here to read up.
See something that resonates? Get in touch so my team can show you how we can help.
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Your Number are Talking is my LinkedIn Newsletter, published 2x a month, where I share some of the most important things I wish business owners knew about along with real-world scenarios I see.
Your Numbers are Always Talking… but do you know what they’re saying?
That’s exactly what I break down.
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