44: Reviewing Your General Ledger Detail Report Whether You Are Starting A Business, You Are Self-Employed, A Solopreneur, Entrepreneur, Small Business Owner, Online Bookkeeper Or Virtual Assistant

Are you taking the time to review your financial statements each month?  Do you understand what your financial statements are telling you about your business?  Most people will look at their Balance Sheet and Income Statement when they review their financial statements, but today I am going to talk about another report that you should be looking at on at least a monthly basis as well.  This report is your General Ledger Detail Report.  If you are using QuickBooks, Xero, Wave, FreshBooks or another computerized software system for your bookkeeping, you can quickly generate this report and make reviewing it part of your monthly financial statement review.  In this episode, I am going over what this report tells you as well as why you should review it to ensure your financial statements are correct.  If you do your bookkeeping manually or you use an Excel spreadsheet, I’ll also be giving some tips on what you can do to review this same type of information so that you can feel good about your financial information.  Whether you are just getting ready to start your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper or virtual assistant reviewing your General Ledger Detail Report will give you the confidence that your financial statements are accurate, and you can rely on them to make sound business decisions throughout the year.  Listen in and make sure you add reviewing this report to your bookkeeping tasks each month.  It doesn’t take a lot of time to review, and you might be surprised at how easy it is to spot and fix bookkeeping mistakes…

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