Budget Your Business
Budget Your Business - budgeting for every aspect of your small business - is a show for small business owners with less than $50M in revenue. If you are looking for actionable advice, practical tips, and techniques to budget every aspect of your business, this is the podcast dedicated to you. We host finance experts, subject matter experts, and small business owners to share their perspectives on planning for your business. Think of a deep dive for every part of your business and how to plan for it. Budget Your Business is hosted by Scott Geller who will share his experience working with corporations and small businesses, and guide you down the path of planning the financial future for your small business.
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Budget Your Business
Fixing an Accounting Mess with Josh Farber
E#19: Josh Farber of G&A Partners shares how to Fix or Clean up an Accounting Mess. Join me, host Scott Geller, on the Budget Your Business podcast to listen.
In this episode of "Budget Your Business," we dive into identifying and fixing an accounting mess. Josh outlines two lenses to recognize trouble: the “wrong” lens, where financials don’t align with bank statements, and the “suboptimal” lens, where processes are too complex or granular to deliver clear insights. He explains who to bring in, emphasizing the need for accountants skilled in both fixing and ongoing management. Josh also describes the phased approach to cleanup: fixing immediate issues, pressure-testing for accuracy, and transitioning to a regular accounting cadence. Finally, he highlights best practices for keeping bookkeeping accurate through a clear partnership, regular review cycles, and segregation finances.
Book Quotes:
“Be efficient with processes, not people” … Stephen Covey’s The 7 Habits for Highly Effective People
“Create a culture of guidance, both for praise and criticism.” Kim Scott Radical Candor
Find out more about Josh Farber:
https://www.linkedin.com/in/joshfarber/
https://www.gnapartners.com/