One of the main benefits of searching for a bookkeeper near me is that you gain access to a variety of financial services that will help you make sense of your business. Amongst the many services on offer, the production of cash flow statements rank highly in order of importance. If you want to find a good bookkeeper, it’s essential they offer this service.
What are Cash Flow Statements?
Your cash flow is defined as the cash and cash equivalents that enter and leave your company. In even simpler terms, it refers to the money you spend and receive. Therefore, a cash flow statement is a statement that summarizes this for you. You’ll be provided with details informing you of exactly how much cash is leaving your company, and how much is coming back in. Since 1987, they are a mandatory part of your financial reports and need to be filed as part of your income statement and balance sheet.
What are the Benefits of Cash Flow Statements?
A CFS lets your company see how well it is managing its cash. This is one of the easiest ways of understanding where certain cash problems lie. You can clearly see if you are spending too much money without getting enough in return. By viewing this, you’re able to make changes to your operations, comparing the results on a future cash flow statement.
If you are looking for cash flow statement services, Kiss My Books can help you out. Feel free to contact us today for low cost bookkeeping!
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