Do You Understand Financial Statements

      Financial statements are reports that show a company’s financial health and profitability.

     There are three types of financial statements:

     Balance sheets; Income, or profit and loss statements (P&Ls); and Cash flow.

     Accurate financial statements are especially important if you’re looking for a loan your business. Lenders will look at your financial statements to determine if you qualify for a loan.

      Beyond that, financial statements help a business owner understand their bottom line and overall health of their business. This helps the make decisions about purchases, inventory, payroll, marketing, and expansion.

      Your bookkeeper can keep your financials accurate and up-to-date and provide you with monthly and quarterly reports.

        Keeping aware of the financial health of your business. There should be no surprises when you need to produce a financial statement.

Reach out to CK Bookkeeping to see how accurate financials can help your business thrive. https://ckbookkeepingllc.net/