Financial Statements

Have you ever wished you could know exactly how profitable your company was last month or if your cash flow is adequate to pay off a loan more quickly? Gone is the guesswork of yesterday with accounting software such as QuickBooks which allows you to access your company’s financial statements whenever you wish. Financial statements should be reviewed by management minimally on a monthly basis in order for timely decisions to be made regarding the business. Quarterly or year-end statements do not allow management to correct the course quickly enough during the year. We believe that timely accurate financial information is a foundation for business management.

There are four fundamental financial statements which every company should utilize:

1) Income Statement
2) Balance Sheet
3) Cash Flow Statement
4) Owner’s Equity Statement

As this memo is directed at private companies, it will not focus on the Owner’s Equity Statement which shows changes in shareholders’ interests over time.

Click here to read and print the entire article in PDF. Click here for step by step instructions on how to print these financial statements in QuickBooks.