To properly grasp how well your business is doing, you’ll need to produce a few different financial documents – one of them being a balance sheet. While any type of financial reporting can feel intimidating at first, your balance sheet is a useful tool which can help you understand your business’s financial health. Let’s explore…
Using a trial balance report is a great way to keep your business accounts on the right track. At the end of an accounting period, it’s an important step in closing your books. But what is a trial balance report and how do you put one together? Get comfortable, and we’ll take a look! What…
No matter the size of a business, monitoring profits, expenses and cash flow is vital. Business owners need to know exactly how their business is doing financially, and the best way to do this is to dig into the numbers and create reports. What is a profit and loss report? Looking at high sales figures…
Being a business owner has many great benefits, but there are a few challenges along the way too. One of the biggest things to overcome when going into business is the fine art of decision-making. Without a boss to consult (and to take responsibility if things go wrong), making decisions can seem a bit daunting….
Managing payments to suppliers can become confusing, especially if there are lots to keep track of. Like with most aspects of business finance though, careful monitoring goes a long way towards keeping things running smoothly. We explain how supplier payments can affect a business, and how to keep on top of them. Why it’s important…
