A balance sheet gives you a snapshot of your business’ financial condition at a specific moment in time. Running a business is a time consuming endeavor. Ensuring that your firm’s accounting is done properly and your company’s underlying finances are kept in check can add to the time it takes to your day to day operations. So let us do the heavy lifting and keep your balance sheet up to date and ensure its accuracy.
A balance sheet helps you…
Quickly get a handle on the financial strength and capabilities of your business.
Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively.
Determine if your business is in a position to expand.
Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses?
Determine if you need to take immediate steps to bolster cash reserves?
Determine if your business has been slowing down payables to forestall an inevitable cash shortage?
Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.
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