As a small business owner, it can sometimes feel like you’re alone on a desert island with no help in sight for the endless financial reports you have to deal with. This blog post on how to understand and calculate cash flow is the 3rd in a series we’ve been doing on...
“Audit” is a word that strikes fear into most small business owners. If it’s from the IRS, it means that the government is taking an extremely careful look into your finances and tax reporting. (Your level of participation in the tax process up to that point will...
According to financial website The Balance SMB, the monthly balance sheet is “the most important of the three main financial statements used to illustrate the financial health of a business.” In previous blog posts on this site, we have talked about those 3 key...
It’s a question that most of us have been asked at a dinner party at some point in our lives: “If you were in a plane crash and stranded on a desert island, what one _____ would you want with you?” In 2005, The Office did an episode titled “The Fire” in which a small...
Every transaction in your business has to be accounted for. In the nonstop world of a small business owner, it can be a real challenge to keep up with receipts. You either forget to enter the expense in your accounting software, or you just guess at the amount. Either...
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