By Kat Tretina –
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 can secure the necessary financing.
Whether you handle your business’ finances yourself or outsource your accounting to a professional, here’s what you need to know about business balance sheets and why they’re important for business loan applications. (more…)