Unless you have spent years studying bookkeeping and accounting, looking at financial statements probably makes your eyes cross and makes your head hurt.
But it doesn’t have to be that way…I’m gonna give you the lowdown.
What to look for when reviewing your numbers aka your financial statements.
As promised, let’s continue the modified cash basis conversation that we started over here in the Accounts Receivable 101 convo…
If you want a better picture than a cash-basis** financial statement can give, in additional to tracking what your customers owe you (accounts receivable), you should track what you owe your vendors and suppliers (accounts payable).
Want to get a better handle on your business’ cashflow? Here are the basics of invoicing and accounts receivable for the non-accountant (and newbie bookkeeper).
I see it all the time. New business owners want to get paid so desperately that they don’t set up a proper invoicing and income tracking system… namely “accounts receivable”. (more…)
Starting a business is the fun part, running a business is where all the work come is.
One of the never-ending tasks that’s on the MUST DO list is bookkeeping. But what is it really? What does it entail?
They tell you that you have to do it but they never really get around to telling you what IT is. You know them. You know the ever-present “they”. (more…)
Messy Books And The Cleanup – How To Get From Under That Pile of Paper And Back On Track
So I was talking to a client the other day. A client that was overworked and overwhelmed. One who found himself taking over the books from his former bookkeeper. (more…)
We’re in the last quarter of the year.
The things that you wanted to get done, maybe you got them done. Maybe you didn’t.
But you don’t have to take regrets into the new year.
I’m sure there are a few things that you absolutely must get done before the clock strikes midnight and they play Auld Lang Syne to begin the new year…
I can’t answer that for you but I’m sure as you’re reading this, you already have a few things in mind. Don’t you? (more…)