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How to Make and Follow a Budget for Your Small Business

By |August 15th, 2019|Small Business Accounting|

Every dollar counts when you're a new small business owner. With little to go around, creating and sticking to a budget is essential. While you might see budgeting as a dreaded chore, it provides several benefits for your small business compared to the time and effort you put into making it. For example, business budgets [...]

The Income Statement: An Essential Tool for Tracking Business Profitability

By |May 31st, 2019|Small Business Accounting|

Your company's income statement is also sometimes called the "profit and loss statement." This is one of the three primary financial reports that you should complete and review regularly to ensure that your company's financial health is up to par. The other financial statements that should be on your list include the statement of cash [...]

Why a Cash Flow Statement is Important to Your Business Success

By |April 30th, 2019|Small Business Accounting|

The goal of any business should be to have more cash coming in the door than going out. Cash is used to cover your overhead, fund your payroll, purchase equipment, and pay your suppliers. Essentially, your business isn't going to survive for long if it runs out of cash. Your company's cash flow statement includes [...]

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