Behind On Your Books,

Business Owners?

Let Me Rescue Your Financials Today!

Behind On Your Books,
Business Owners?

Let Me Rescue Your
Financials Today!

Business Financial Statements

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Do You Struggle With Inaccurate Business Financials?

 

How A Master Bookkeeper Helps You With Spot-On Business Financial Statements

 

Get Your Hassle-FREE Financial Analysis Now

 

If your business financial statements are a mess, then you may be burning thousands of dollars that spot-on business reports can reclaim for your business.

Don’t miss out on how a Top Rated Local® Master Bookkeeper could reveal and recover “lost profits” inside your business right now. 

Are your business financials a mess?

Do you struggle to create and organize your business financial reports?

Are you burning the midnight oil to discover how your business is in the negative… but your business financial statements show you’re profitable?

As a business owner, it’s your job to know where your business financials stand. 

Yet…

You and others like you let your business financials turn into a mess, losing you a ton in the process. 

Why would you ignore unrealized profits while growing your business?

Don’t. 

It’s imperative to get your business financial statements organized and spot-on so that you know exactly where your business stands now (and how to make more profit).

Here’s the truth:

If you don’t have an accurate overview of assets, liabilities, and stockholder equity, then you’re gambling with your business at a higher risk than a casino slot machine.

If you don’t know your company’s business revenues, expenses, or net income, then your business performs as good as a cinder block thrown into a lake (hint: it sinks). 

And if you don’t know your company’s cash flow, debt obligations, or operating expenses, then you put your business at greater risk of failure (and putting your beloved employees out of work because you didn’t take your duty as a business owner seriously). 

This is why an Expert Bookkeeper and In-House Local CPA are crucial to the financial success of your business. 

As your Local Master Bookkeeper, I deliver reports on time, weekly, monthly, quarterly, or annually — whatever you need. 

Know where your business financials stand, right now. Let me save you a ton. 

Call me today for your FREE financial analysis. 

Your Business Financial Statements Explained

Spot-on business financial statements could save you a ton and reveal more profits inside your business.

This is why so many business owners trust a Local Bookkeeper to create, organize, and deliver accurate business financial reports on a weekly, monthly, or quarterly basis. 

If you are creating, organizing, and leverage business financial statements on your own, then you ought to know more about the three types of reports below — and how they can positively or negatively affect your business: 

  • Balance sheet
  • Income statement
  • Cash flow statement.

Business Balance Sheet

Your business balance sheet ought to show you an overview of assets, liabilities, and stockholder’s equity (if applicable). 

If you do not use a business balance sheet report to monitor your business, then you are gambling with the future of your business (and we all know how gambling turns out for most). 

Here’s what you ought to see on your business balance sheets: 

  • Total assets for the time period. 
  • Total liabilities for the time period (may not contain contingent liabilities). 
  • Total shareholder’s equity for the time period (if applicable, add to total liabilities).

When you do the math, the total assets should equal the total liabilities plus the total equities. 

Here’s a simple formula to visualize the business balance sheet: 

Liabilities + Owner’s Equity = Assets

Within each of the categories, look for these financial items:

  • Assets
    • Cash
    • Cash equivalents
    • Accounts receivables
  • Liabilities
    • Debt (short term)
    • Debt (long term)
    • Wages payable
    • Dividends payable
  • Shareholder’s Equity
    • Total assets – total liabilities
    • Retained earnings

Get any of these financial statements wrong, and you put your business at risk of failure.

Business Income Statement

Your business income statement ought to show your business revenues, expenses, and net income over a specific time period.

This report is also known as a Profit and Loss Statement (P&L).

If you do not manage your company’s business revenues, expenses, or net income properly, then your business performs poorly. 

Here’s what you ought to see on your business income statements: 

  • Total revenue (or sales) for the time period. 
  • Total expenses (and costs) for the time period. 
  • Total net income (profit) for the time period. 

Here’s a simple formula to visualize the business income statement (profit and loss): 

Revenue – Expenses = Net Income

With all that being said, you ought to know the various types of revenues and expenses: 

Revenue

  • Interest earned (cash in the bank)
  • Rental income
  • Strategic partnerships (royalties)
  • Advertisement displays (rented on company property)
  • Long term asset gains (land, vehicles, or subsidiary)

Expenses

  • Cost of goods sold (COGS)
  • Cost of selling
  • Cost of general and administration operations (SG&A)
  • Amortization and depreciation
  • Research and development (R&D)
  • Employee wages
  • Sales commissions
  • Utilities
  • Transportation
  • Interest paid
  • Losses on sale of assets

Use business income statements (profit and loss statements) to see how profitable (or not profitable) your business is over weeks, months, quarters, years.

This effective overview of your revenues, expenses, and net income positions you to make better long term, profitable business financial decisions without the stress or overwhelm of not knowing where your business financials stand. 

Business Cash Flow Statement

Your business cash flow statement (CFS) shows how well your company generates cash to fund investments, fund operating expenses, and pay its debts. 

It also complements your business balance sheet and income statement (profit and loss statement) so that you can make informed, intelligent business financial decisions.

Without it, you cannot operate your business effectively or successfully.

Here’s what you ought to see on your cash flow statement:

  • Operational activities
  • Investing activities
  • Financial activities

Instead of a formula for this statement, you are looking at how cash enters, gets used, and exits your business in the three categories listed above.

Here’s what’s included in each category: 

Operational activities

  • Business operation cost
  • Sales (products and services)
  • Accounts receivable
  • Depreciation
  • Inventory
  • Accounts payable
  • Wages
  • Income tax payments
  • Interest payments
  • Rent
  • And more

Investing activities

  • Purchase or sale of asset
  • Vendor loans
  • Merger/Acquisition payments
  • And more

Financial activities

  • Debt issuance
  • Equity issuance
  • Stock repurchases
  • Loans
  • Dividends paid
  • Debt repayments
  • And more

As you can see, there is more to business cash flow than “money in and money out.” 

Accurate, spot-on cash flow statements help you understand where your business stands right now so that you can make informed intelligent long term financial decisions. 

Understanding Business Financial Statements

After reading the above, you may feel confident in how to create, organize, and report on your business financials. 

However…

Business financial statements like balance sheets, income statements, and cash flow statements are open to interpretation.

Experience and knowledge play a vital role in creating, organizing, and interpreting business financial reports for the betterment of your business.

Don’t let ignorance or inexperience ransack your business financials.  

This is why a Top Rated® Expert Bookkeeper and In-House Local CPA are crucial to the financial success of your business. 

As your Local Master Bookkeeper, I deliver reports on time, weekly, monthly, quarterly, or annually — whatever you need. 

Know where your business financials stand, right now. Let me save you a ton. 

Call me today for your FREE financial analysis.  

 

Core Local Master Bookkeeping Capabilities

  • 15+ years of Master Bookkeeping experience
  • Using a Forensic Approach and your in-place Accounting Software, I bring months and several years of unreconciled Accounts current-delivering Laser Focused Cash Flow, Balance Sheets, and P&L’s
  • Job Costing
  • Payroll-plugging in the right add-on to your current accounting system. Think, ADP, Gusto-all of the latest technology available
  • Invoicing
  • Accounts Payable/Accounts Receivable
  • Full time or part time, in-house or remote
  • Budgeting/Forecasting-showing you where you should go in the future
  • The latest AI plug-ins right into your accounting software

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Kendra Moore
Owner/Master Bookkeeper

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Clients

Our clients range in annual revenue from $200K up to in excess of $32M. Simple or complex financials across MULTIPLE industries are our Core Capabilities.

About Us

Furever Bookkeeping, LLC brings 15+ years of expert bookkeeping to each of our clients. Kendra Moore and her team have over 37 years experience in: Bookkeeping, Accounting, Banking, along with experience as previous Business Owners.

Our Certifications

We are approved Accounting & Bookkeeping Federal Government Contractors, DUNS #079524284, as well as for the State of Maryland, NAICS #541219.

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