• Eric Anderson, CEO/Owner

Four Financial Reports Every Business Owner Should Run and Understand


Balance Sheet

This report indicates the value of your company. It lists everything the company owns (assets), everything it owes (liabilities), and what the owner has invested (equity).

The best way to understand the report is all assets in your company will equal all your liabilities plus your equity.

Assets = Liabilities + Equity

Profit and Loss or Income Statement

This report shows all income or revenue the company has earned minus all expenses to show how profitable the company is during the period of the report.

Revenue – Expenses = Gain/Loss of Income

Cash Flow Statement

This report shows the cash that the business generates (operating activities), the money that is spent on the business (investments), and any money that comes in or out from stocks and dividends (financing).

The report helps the owner understand all inflow and outflows of funds in company.

Accounts Receivables and Accounts Payable Aging Reports

Accounts Receivables (A/R) Aging Summary

This report shows all unpaid invoices to your company. The report shows what is owed for the current period and what is over 30, 60, or 90+ past due.

A customer balance summary report can be run to show the total amount that each customer owes to your business.

Accounts Payable (A/P) Aging Summary

This report shows all invoices or bills that your company owes to vendors. Just like the A/R summary it shows the current bill, and if there are any bills that are 30, 60, or 90+ days outstanding.

The vendor balance summary shows the total amount that your company owes to all its vendors.

Have more questions? Need help developing your business or managing your business finances? Contact us today!

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CONTACT US

 Eric T. Anderson, Owner/CEO​

Tel: 512-626-7545

Eric.Anderson@andersontaxes.com

Anderson Financial Consulting LLC
17017 John Michael Drive
Manor, TX 78653

United States
 

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