Do you know dat data?
I recently had to complete an audit and was not as prepared as I thought I would be. I am a fan of data and reports but have focused mostly on financial reports to include monthly and annual data. It is not too hard to create quarterly reports if you have monthly and annual but why wait? Here are a five things I learned from the recent audit:
- Create monthly, quarterly, semi-annual and annual financial reports.
- Create reports on work productivity.
- Create reports on hiring contractors and employees as well as termination of contractors and employees
- Create reports on losses based on projections
- Create year to year comparison reports
Now who in the world wants to hand crunch all of this information? “Not I!” says Tomeico and probably not you either. Your EMR or electronic medical records comes in handy for most of these reports so although I did not have all of these reports readily available, I just had to put in date ranges and bam, the reports were generated. Similarly, my bookkeeping system did the same thing, including projections of income that I haven’t even made yet. How’s that for your crystal ball y’all?
So we cannot see into the future nor do we need to dwell in the past but knowing our numbers for both sure can help our business last! I am so corny…but some of you know I am a poet and I know it (couldn’t help it!!!).