Something to Consider August 2020 3
Hygiene has been at the top of everybody’s priority list recently, from face masks to hand sanitiser to no handshakes and coughing into our elbows.
But why do we need to “sanitize” our Balance Sheet?
Given the vast amount of transactional volume flowing through our global processes and systems, it only takes a small percentage of errors to occur to build up a backlog of items that need reconciliation. This results in incorrect liabilities, costs that can be reversed and even cash opportunities!
At a time where everyone is scrambling to find profit in the margins, the source could be hiding in your balance sheet, where it doesn’t belong!
We’ve put together a short blog post on the elevated impact of the nitty gritty of your balance sheet in the wake of the COVID crisis.
You can find it here