CFO Simplified

APRIL 17, 2022

As Iowa State University reminds us, “profitability is the primary goal of all business ventures.”. Business leadership is often responsible for measuring current, past, and future profitability. But what is profitability? This CFO Simplified client watched profitability slowly disappear—until they incurred a $125,000 loss.

General Ledger (GL) 92

General Ledger (GL) Profit and Loss General Ledger CFO 92

CFO Share

JULY 14, 2022

Do your profits and cash flows make no sense? Too many general ledger (GL) accounts. Too many general ledger accounts. That can lead to “GL diarrhea”: too many ledgers, multi-page P&Ls, and unusable financial statements. Accurate costing is key to a useable profit and loss statement.

General Ledger (GL) 52

General Ledger (GL) General Ledger Profit and Loss Invoicing 52

CFO Simplified

APRIL 15, 2022

The bank reported a loss of confidence in management as a result of the inconsistent financial reporting. Reconcile the general ledger balances from the start of the year. Business owners are always concerned about company profits. Inventory is a tool to achieve profitability. Recommendations. There is no upside.

Profit and Loss 52

Profit and Loss Manufacturing General Ledger Accounts Payable 52

Creative CFP

OCTOBER 2, 2020

There is drill-down functionality available from the general ledger, and you can click right through to the supplier invoice. When you pay the foreign supplier or receive money from a foreign client, Xero calculates the foreign exchange profit and loss and posts the journals automatically. Fixed assets are a breeze.

Accounting 52

Accounting Finance Cash Flow Forecasting General Ledger 52