Dispatch #23 - Close the March (3/31) Books on Time

Give your company a competitive advantage -- the ability to see clearly and think straight -- during these volatile times by closing the March (3/31/20) books on time. Aim to close within 15 to 20 days.
 
Your return on investment will be realized in the form of:

• Better decisions, based on timely financial statement analysis and key performance indicators (KPIs);

• Accurate, up-to-date financial statements for sending to your bank, surety, and government loan programs;

• Seeing the financial impact of new dynamics like FFCRA and PPP loan wages paid and expected reimbursements, or deferred tax payments.

Marry the above with your 13-week and 13-month cash flow forecasts to have a 360-degree view of your finances. You’re looking back, you’re looking forward. You’re planning short-term and long-term.

Stay the course by maintaining the financial best practices your company worked hard to develop over the last few years and it will ground your ability to consider different scenarios and make more effective decisions.

Need help with this or other financial matters faced by construction contractors? Let’s talk!

David Stern CFO makes every effort to provide useful and accurate information. This content, however, is not intended as a substitute for specific business-related financial advice. We disclaim all warranties and liabilities from its use.