Join us IN PERSON as we explore the multifaceted aspects of financial management and unlock a wealth of invaluable knowledge essential for business prosperity! This comprehensive, day-long workshop is designed to emphasize the critical importance of effective financial management in achieving sustainable business success. Throughout the workshop, participants will gain invaluable insights into the intricate workings of financial management, equipping them with the knowledge and skills necessary to navigate and optimize their business’s financial landscape.

Here’s what we will cover:

What is Financial Management to Your Business?

We will discuss how managing financial management helps your business succeed. Participants will walk away from this session with a keen understanding of the financial cycle and application to their company.

What Accounts are Important to your Business?

We will help you set up your company in QuickBooks Online. We will customize the Chart of Accounts to meet the company’s needs and align with GAAP. We will demonstrate how to create and track Accounts Receivables and Accounts Payables in QBO. Participants will walk away knowing how to set up bank feeds, create new accounts, invoices, expenses, write checks, and categorize accounts in bank feeds.

Reconciliation of Balance Sheet Accounts

We will discuss the importance of reconciling balance sheet accounts monthly and how to resolve any duplications or missing transactions. You will walk away with the knowledge of reconciling statements in QBO and correct any missing or duplicated transactions.

Understanding and Creating Monthly Reports – Profit & Loss, Balance Sheet, and Statement of Cash Flow Report

We will help you understand how to create the company Profit & Loss (Income Statement), Balance Sheet, and Statement of Cash Flow Report for any given period on an Accrual or Cash Basis. You will walk away with knowledge of understanding the financial position of your company based on the reports.

This event is made possible by the Small Business Administration.