A cash flow statement, also sometimes called a statement of cash flows, is one of a handful of financial statements that are essential for running a successful business.  Where an income statement gives you an idea of your income and expenses and a balance sheet provides a snapshot of your assets, liabilities and owner’s equity, a cash flow statement is focused on your cash and cash equivalents—cash equivalents are other liquid assets that can be quickly converted into cash. More Read More

An income statement provides an at-a-glance summary that shows whether your business is earning a profit or losing money. Download this free sample template for an example of how to create an income statement of your own. Income Statement Template What Is an Income Statement?  An income statement is commonly referred to as a profit and loss statement, or P&L for short. You might think of it like your business’ financial report card. It’s an important financial statement that shows Read More

Nowadays, when people think of credit scores, their mind often goes to what they see on America’s best friend: television. Even without seeing a single commercial for a free credit monitoring service, most if not all people know that credit scores are important, and something to be watched and taken care of. They are, after all, your lifeline to some of life’s biggest milestones like buying a home, paying for college, or getting a bigger boat than your loudmouth neighbor. Read More

One of the easiest ways to create your own income statement is with a free income statement template. Use this one to get you started with your own personalized balance sheet, one of the most popular financial statements for a business.  Income Statement Template Here are some tips to help you use it wisely and get the most out of the information it provides. Look at an income statement example to see how one will appear when finished. Note where Read More

A cash flow statement is an essential financial statement for a business. As its name suggests, it provides a summary of the amount of cash and cash equivalents that come and go in the course of running your business.  Download this cash flow statement example to get started on yours. Cash Flow Statement “A business could be profitable but at the same time have cash flow problems” says Jo-Ann Yuen, Vice President of Finance at Nav. “Depending on how severe Read More

Finding out you need a life insurance policy to fund your SBA loan can be shocking, and trying to navigate the different insurance options can be confusing. But it doesn’t have to be.  Getting life insurance for a Small Business Administration loan can be super fast and very easy, depending on the type of life insurance product you choose.Here’s the breakdown of why you need life insurance for your SBA loan, how the entire process works, and how to get Read More

Income statements and balance sheets are reliable ways to measure the financial health of your business. Click below to download a free sample template of each of these important financial statements.  Your income statement and balance sheet are two of the most important documents you will create as a business owner. Not only can they can show you how your business is doing financially, they can even help you project how it may perform in the future.  Wondering what information Read More

Like the balance sheet or profit and loss statement, the income statement is one of the reports that companies of all sizes should have an idea how to utilize. Here’s a breakdown of an income statement to know what they look like and which information should be included. Free Income Statement Example What is an income statement? This type of statement, or report, shows how well a company or organization performed during a specific period of time. It is based Read More

As a small business owner, you likely wear many hats. You’re at once a product developer, marketer, and a customer service representative. But, one of the most overlooked tasks you may have is accounting.  Managing your company’s books is a time-consuming and complex process, but it’s necessary for your business’ success. If you plan on applying for a business loan, it’s important to pay attention to key financial topics and learn how to create and read balance sheets so you Read More

As a business owner, limiting expenses and maximizing your profits are a top priority. But one area where it can be tough to save money is with your business checking account. There are very few options available that don’t charge a fee, and many “no-fee” business checking accounts require that you keep a minimum balance to qualify.  Opening a business checking account is crucial for keeping your business and personal finances separate. But if you’re looking for a no-fee account Read More