To run your business smoothly, it’s crucial to have a working understanding of your company's assets, liabilities, revenues, debts, and expenses. The ideal tool for that is a general ledger, which enables you to track those metrics and provides a baseline for your financial reporting.
A cash flow analysis allows businesses to understand their financial health and adjust accordingly. Put this practice in place to ensure that your business remains a powerful presence in the marketplace long-term.
The type of business you run and how you operate will determine whether a Sole Proprietorship or LLC is right for you. Here’s why you should consider making the switch.