Most bookkeepers and accountants seem to think that if they can “close the books” within 10 days of the end of the month, they are doing a good job. There was a time when that was true, but that time has passed.
Closing the books monthly worked well when you had to wait for the bank to mail you your statement. Today, banks allow for real-time transaction download, but the world of accountants still revolves around the 📝Month End Close.
We think it's a bad habit. We were surprised to be able to register the domain name WeeklyAccounting.com for nine dollars. It's either because accountants aren’t taught to think weekly or they don’t know how to register domain names. Either way, we knew we could help some people level up.
Measure Weekly, Grow Faster
We’re here to tell you that 📝Weekly Accounting is doable. We use it as a drumbeat directing the flow of all of our business information. Issues get flagged more quickly, and process improvement happens faster than with monthly accounting. With 52 opportunities to learn each year instead of 12, your teams get better faster.
We wrote 📝The Weekly Accounting Handbook to help you get over this habit.
If you aren’t managing your business weekly, you are managing your business weakly.