Using the Indirect Method to Prepare a Cash Flow Statement

A cash flow statement is one of the primary resources used to assess a business’s financial performance, and you can prepare it using either the direct method or the indirect method. Because the indirect method utilizes existing financial documentation, it is...

Credit Card vs. Debit Card: Which is Right for Your Business?

There are more than a few ways to make a business purchase, whether you’re buying office supplies, inviting a client for coffee or paying for gas during a business trip. Instead of carrying cash that can be lost or stolen and having to save receipts (and deal with...

Profit and Loss Statements: What Are They and How to Create Them

As a business owner, you’ve probably heard about the terms income statement, profit and loss statement, or P&L. And you might have been perplexed by these terms and wondered what exactly they mean. Good news: They all refer to the same thing—the financial...

How to grow your small business: 4 strategies for success

Owning a small business isn’t easy and it can often feel like you need to be an expert in many different areas all at once. You’re expected to market your business, maintain great relationships with your customers, manage your finances, and so much more. On top of...