UPCOMING TAX DEADLINE: JANUARY 31, 2023   |

As a business owner, the statement of cash flows is one of the most useful financial statements to better understand how your business is generating cash, how that cash is used, and what your cash position is at the end of a period. Having cash available is very important for a business to stay solvent and meet its obligations. Even a profitable business can go bankrupt if it doesn’t have enough cash in the bank to pay its employees, suppliers, rent, utilities, and debtors. A

Cash flow measures the net amount of cash and cash equivalents coming into and going out of a business over a set period of time. It indicates the financial health of your business by showing how much cash your business has on hand. If the pandemic has taught us anything, it is that as business owners, you may have the best-prepared plans and the unpredictable happens. As a result of the unpredictable, your business may take a hit that makes cash flow harder to come by. Here

As a small business owner, deciding on whether your company needs a credit card can be difficult. You may be concerned about interest payments, penalties, and annual fees, as well as the time and effort it takes to apply. However, for most businesses, having a company credit card can be a major asset to help operate and expand the business. When used properly, a small business card can help mitigate cash flow issues, keep personal and business finances separate, and boost a c

As a business owner, understanding your company’s overall financial health is a crucial part of growth and success. The three important financial statements used for reporting a company’s financial performance are the Balance Sheet, the Profit and Loss Statement (P&L) and the Statement of Cash Flows. The Balance Sheet reports a company’s assets, liabilities and shareholders' equity at a specific point in time. It provides a snapshot of what a company owns and owes, as well as