Your bookkeeping won’t tell you everything

Your bookkeeping won’t tell you everything.

Look, bookkeeping is really, really useful.

The Profit & Loss and the Balance Sheet are great reports to be looking at regularly.

And a lot of business owners don’t get their bookkeeping done, or it’s late or inaccurate, or they don’t look at the reports, or they look but they don’t understand what the reports are telling them.

But even if you had all four of those things sorted (and good on you if you do), it still doesn’t tell you everything.

What’s missing is the future.

The Profit & Loss will tell you what happened, and the Balance Sheet will tell you what things were like at a snapshot in the past, but you need something like a cash flow projection to see what the future is going to look like.

It’ll tell you about the cash coming in and out of your business, every week or every month for the next six or twelve months into the future, so you can see what your bank balance is going to be.

So you know, “okay, I’m not gonna go broke.”

Or you can go, “hey, what if I spend money on this big thing? Is that going to send me broke later?”

You can test it before you spend the money, knowing what the effect is likely to be.

So it’s a really good early warning system for making sure your bank balance doesn’t get low, or if it does, you know months in advance.

But cash flow projection isn’t for everyone, so I made a GPT to help tell you whether it’s a good idea for you or not.

It’ll ask you a couple of questions and then it’ll say “this is why it will help you specifically” or “maybe try one of these options instead”.

If you want the GPT, just DM me on Instagram @benmcadamig the word NEED and I’ll shoot you the link to it.