I often get the question from new clients of “what does the team actually do” during the month. It’s not offensive. It’s a fair question.
So, here’s a look at what we do to create Investor-Ready Financials each month – hopefully explained in a less technical way.
1. Preparing Your Financials: We go through all your accounts to make sure every transaction is reconciled and categorized properly. Throughout the month we also…
- Update Tech Configuration: Making sure that any new SKUs, COGS, and merchant processors are reflected in the books, and helping configure things like insurance, sales tax flows, and tools like Faire and Route
- Reconcile Payment Providers: Making sure that every dollar you have coming to you is represented in your books
- Drill Down On Sales Channels: Separating sales, COGS, and fees by region or sales method (FBA/FBM) so you can see the data that’s most important to you
Through it all, we’re careful to categorize COGS, variable, and fixed costs in a way that’s best for your business, and evolve as your business changes.
2. Reviewing Your Financials: Every set of financial reports goes through a quality-control check, customized for your business, to verify configuration and accruals are all in order.
3. Interpreting Your Financials: Finally, we translate and summarize the data into meaningful reporting via your Fathom dashboard.
There, you can see things like P&L KPIs, channel performance, balance sheet KPIs, cash flow, and more.
For even more detail on how all this breaks down, check out this article. Then let us know if you have any questions.
