We implement Weekly Accounting across your organization to make it easier to run.
We are a done for you business intelligence agency. This is how we do it.
Onboarding Phase
Restructure Chart of Accounts.
- Inexperienced bookkeepers frequently have long, unwieldy Chart of Accounts. A well structured Chart of accounts makes it easier for bookkeepers to do their jobs well enabling perfect transaction processing every day. We optimize for operational forecasting and reporting weekly – GAAP and Tax considerations are important, but secondary.
- Example
Clean up Inconsistent Bookkeeping
- Quality of Bookkeeping: Inconsistencies indicate poor quality bookkeeping. Vendors coded to multiple accounts, lack of attention to vendor names, inconsistent payroll journal entries, inconsistent revenue and COGS entries are quite common. A lot of bookkeepers aren’t really trained properly.
- Quality of Accounting: At the next level, we evaluate how close the business is to GAAP. Most of this is done by evaluating the balance sheet and the transactions that make up the balances found there. Deferred revenue, prepaid assets and accrued liabilities are the set of accounts where we usually find the issues.
- Timeliness of Bookkeeping: In one venture-backed company we reviewed, no one had touched the books for three months. Many bookkeepers are really only interested in keeping the books for tax purposes. You only file taxes once a year. You operate your business every day. We have a Weekly Philosophy and we encourage all businesses to
- Cash Management: Accounts Payable and Accounts Receivable is where we look for these insights.
- Revenue Recognition assessment: We look at how you are recognizing revenue and identify any challenges and opportunities.
- Payroll Journal Entry: Payroll expense is usually the largest portion of a business’ monthly expense.
- Key Metrics review: If you do invoicing from Quickbooks we’ll look at metrics including new customers, repeat customers, average order value.
Build Weekly Data Warehouse
- The Weekly Data Warehouse or WDW is a well architected, customized, automated centralized place that holds all your business data.
- We use Google BigQuery because of tight integration with Google Sheets. BigQuery Is the database component of the Google Cloud Platform that connects natively to Google Sheets. We use BigQuery because it’s built into Google Sheets dramatically accelerating analysis and reporting.
✏️ Build Integrated Financial Model
An Integrated Financial Model (IFM) captures a business’ streams of information to collate data for tracking visibility; it’s the starting point for aligning the day-to-day activities of a company with its long-term goals. IFM works by collecting data from all the systems used to run one’s business. Trends are then are evaluated to make predictions which are then discussed with the team involved and aligned with the business’ goals. When fully implemented, an IFM can accurately report on every relevant metric every week.
The structure of the IFM looks like this:
Build Monday Morning Metrics
Get a complete picture of your business customized for you. We integrate data from all your systems. We calculate the key metrics of your revenue engine. We present them in an actionable and motivating way. We do it for you – pulling, processing and presenting. We evolve it with you as your business grows.
If you aren’t managing your business weekly you are managing your business weakly.
Build Reporting Tool
Build Weekly Monthly Quarterly Charts
- There’s a right way and a wrong way to look at all the data in your business. We create the right dashboard for for the context, Weekly Monthly and Quarterly. We keep them accurate and updated every week.
Maintenance Phase
Once its built we maintain it by executing daily, weekly and monthly tasks leaving your internal finance department (if you have one) to focus on more important things.
Once the data is well organized and the journal entry tools are built then revenue recognition, no matter how complex, can be delegated to a daily, weekly or monthly task queue.
We manage everything in Clickup.
A Done For You Business Intelligence Agency
Weekly Accounting helps people make progress on the right metrics weekly.
When you put the right data in front of an empowered team they get better.
When we’re done your business will be easier to run.
Your Attention is Limited Focus It Well
About us
Recent Case Studies
Philosophy and Poetry
- The Thinker and the Naught
- Evolution
- About Zen and the Art of Motorcycle Maintenance
- We all have a philosophy
- The Boot Sequence
- I am worried about accountants
- Inspiration
