Right Business Decisions to Maximize Cashflow
$125
Right Business Decisions to Maximize Cashflow

Right Business Decisions to Maximize Cashflow

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SBDC Rutgers-Newark

25 James St

Newark, NJ

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Description

This workshop reviews the basic elements necessary to keep precise business financial records using easily available accounting software (QuickBooks). You will learn how to create accurate financial statements and how to interpret them. We'll look at the key numbers and ratios that can help you understand your financial results, and how to use these ratios to plan effectively and manage cash flow properly. This workshop is intended for current business owners and managers and for anyone thinking about opening a business.



TOPICS to be covered:

Understanding Accounting/Bookkeeping Practices for a Small Business:

  • Transactions - the Heart of Financial Record Keeping

  • Daily (e.g., Sales; Expenses)

  • Monthly (e.g., Bank Reconciliations; Sales Taxes)

  • Annually (e.g., Income Taxes; Yearly Financials)

  • Primary Stakeholders

  • Owners

  • IRS


Bookkeeping Basics:

  • Double-Entry Accounting

  • Chart of Accounts

  • Establishing Accurate Records for Taxes

  • Sales Taxes

  • Payroll - Payroll Services


Your "Bean Team" & Their Roles

  • Bookkeeper

  • Accountant

  • Tax/Investment Advisors


QuickBooks (Intuit):

  • Options

  • Online QB

  • Downloaded Versions

  • Ancillary Services

    Payroll

    Merchant Services

    POS Sales Systems 

  • Company Data File
  • Customers
  • Vendors


Understanding Financial Statements:

  • Profit Loss Statement

  • Cash Flow Statement

  • Balance Sheet

  • Key Financial Ratios:

  • Metrics for Optimizing Company Performance

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Date and Time
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SBDC Rutgers-Newark

25 James St

Newark, NJ

View Map

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