EP 058: How Detailed Do My Financial Reports Need to Be? With Matt Williams

I’m just going to say it.
If you are a business owner who can’t read financial reports…

You are screwed.

It’s kinda like going through life living in a country and never learning to speak the language.

Can you imagine spending your whole life living in Australia, but you can’t speak English?
Can you imagine how hard it would be to get through life?

Even just the basics.

Time and time again, I see business owners refuse to learn the language.

And I get it.

Reading financial reports has a bit of a learning curve, but it doesn’t make it any less essential to learn.

What most don’t realise is being strong in finance is a superpower for business owners.

Just imagine, what an advantage would it be for your business if all your competitors couldn’t speak English?

How quick and effective you would be VS your competition.


I attribute a large amount of my success today to my strong financial skills.

And I want to help you level up your own financial skills game.

This week on the Podcast, we have Matt Williams, our resident bookkeeper.

We do a deep dive on setting up your reports to match your goals and how to get dialed in with your bookkeeper to get the reports you need.

Consider this a great place to start with improving your financial skills
(and a great tune-up for those who know the basics).

All information we share is NOT financial or investment advice and is purely intended for entertainment and educational purposes only. Always seek professional advice before acting on any financial decision.

Episode Highlights:

00:00 Welcome to Business & Investing
02:06 Having a quality bookkeeper for your business
03:36 Bookkeeper horror stories
11:22 Getting started with your bookkeeper
18:24 The value of being transparent with your bookkeeper
22:50 How a good financial report should look like
30:43 Choosing the right financial reporting cycle 
37:42 The essence of looking after your cash flow
43:42 Signs that you’re not getting good financial reports
47:37 Reach out to Matt and Platinum Financial Services

If you enjoyed this episode, be sure to subscribe, tune in and share this podcast!



Matt Williams is part of Platinum Financial Services which focuses on providing business owners with the best bookkeeping service across their business, investments and personal income, which allows you to concentrate on more significant aspects of your business.

They completely reconcile all of your financials and help you understand your numbers so you can make the right decision for your business based on evidence, not opinions.

To connect with Matt and his experienced team of bookkeepers, head over to: https://businessandinvesting.com/partners/platinum-financial-services/

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