This summer, take control of your finances with these four hour-long classes designed to give you the knowledge and tools you need to push your business to the next level. All are free but registration is required.
Quickbooks Basics
Monday, May 15 9am – 10am
This free educational workshop will help small and medium-sized businesses better manage their business finances and keep more accurate accounting records using QuickBooks. Tim Moran will show you how Quickbooks performs many of your routine accounting tasks in an automated way, and allows you to pay bills on time, collect money earned and run reports to see how your company is performing. He’ll discuss:- setting up customers and vendors
- reconciling bank accounts
- tracking credit card transactions
- paying bills
- reading financial statements.
Understanding Financial Statements, And Why You Should
Monday, June 5 9-10am
Financial statements are the report card for your business and give a small or medium-sized business owner a fuller understanding of how much money there is, how much debt is owed, the income coming in each month and the expenses going out the door. Topics we’ll cover include:- the balance sheet
- the income statement
- gross profit vs net profit
- accrual vs cash basis
Using Financial Statements to Help Manage Your Business
Monday, June 26 9-10am
Business owners need to be able to analyze financial statements for a variety of reasons: to identify major changes or trends, to assess past performance and current position, , and how their firm is performing compared to others in the same industry. We’ll cover how to:- determine increases or decreases in income, profits and expenses
- calculate financial ratios and profitability ratios
- decide whether to issue stock or secure a bank loan to increase working capital
- equity vs debt financing
- how to benchmark your business performance
Managing Cash Flow
Monday, July 17 9-10am
Cash is the lifeblood of a business, the fuel that keeps the engine running, and cash flow problems can be one of the leading causes of small and medium-sized business failure. Cash flow and profit are two different animals, and when you’re running a business, you need to keep track of both. We’ll look at three key elements of cash flow: accounts receivable (what customers and clients owe you), accounts payable (what you owe your suppliers) and shortfalls. Smart cash flow management strategies you’ll learn include:- how to determine your break-even point
- determining necessary cash reserves
- planning for taxes
- paying debt
- creating reserves to recapitalize your business
