#12: UNDERSTAND THE MEAT OF YOUR BALANCE SHEET

Financially Adjusted

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Are you an entrepreneur who gets a little frustrated and confused when it comes to understanding your financial statements? You are not alone and this episode is for you!

In this episode, I’ll dive into the balance sheet in a similar way that I explained the profit & loss statement in episode 11. I compare the balance sheet and P&L and emphasize the differences.

Key Points:

· Money Mindset around business finances and life challenges

· Balance Sheet components and overview

· Relevance of the balance sheet in your business

· The relationship between the balance sheet and the P&L statement

· Clearing up misconceptions/misunderstandings when it comes to these reports

Don’t forget to follow or subscribe wherever you listen to podcasts so you don’t miss the chance to gain skills and confidence around small business money topics.

Reach out at [e-mail] with any questions you’d like answered in future Q&A episodes!

Recommended payroll software (affiliate link):

ADP: http://accountantprogram.adp.com/accept/?EID=5453c160-167e-4c6b-aedc-893d78fb3f87&type=ShareUrl

GUSTO (affiliate link): https://gusto.com/r/leslie4559

QuickBooks Online is my go-to accounting software. Get the best discount possible (30% off for 12 months) when you buy with my affiliate link below, through Complete Business Group. Message me at [e-mail] with any questions regarding signing up.
https://completebusinessgroup.com/leading-ledger-bookkeeping-llc/

My favorite budgeting app w/ an amazing free version:
https://www.ramseysolutions.com/ramseyplus/everydollar

My preferred business credit card with cash rewards (affiliate link): If you have healthy behaviors around spending with a credit card, this is a great one to use and earn cash back. It also links up well with QuickBooks Online. If you have unhealthy spending habits with credit cards, please avoid using one! You need to be able to pay it off monthly and not carry a balance. I use this one for my business and it makes paying bills simple.
https://i.capitalone.com/Jnub3fUEX

Check out all my FREE financial resources in one place:
https://www.financiallyadjusted.com/free-resources
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Reach out via email: [e-mail]
Disclaimer: This content is for educational and informational purposes only. Please consult with an accounting professional for direct advice based on your specific business situation.