While it may not be the most exciting part of your business, keeping proper small business accounting records and financial statements is clearly one of the most important things a business owner can do. At some point, you may need to raise capital from a financial institution or lender, and if your books are not current or accurate it can jeopardize your financing.
- Cash Budgets - Learn to develop cash budgets to create a plan for operations, and a capital budget to evaluate major capital investments.
- Financial Forecasting - You cannot plan without forecasting. Learn the basics of forecasting sales, production, and cash.
- Break-Even Analysis - Are you making or losing money with your pricing or management decisions? This article will help you make sound financial decisions.
- Accrual Method of Accounting | Cash Method of Accounting - Learn to maintain your books and to keep track of your income and expenses through the cash or accrual methods.
- Balance Sheet - The Balance Sheet describes the overall health of a business: what it owns and what it owes. This article is a guide to preparing and evaluating a balance sheet.
- The Income Statement - An Income Statement or Profit and Loss (P & L) statement measures a company's sales and expenses over a specified period of time. Use this guide to create one for your business.