Financial balance of your business

 

For each chosen period by example each end of month or year, it's desirable to make your business financial balance. A financial balance is the financial situation according to what you have (assets) and what you owe (liabilities). This allows to see the benefits and loses of the business and is also used for the tax return in order to produce with precision a statement of income.

 

 

Assets are :

- Money incomes

- Customer accounts to receive

- Stocks or inventory

- Placements or investments

- Business properties

 

Liabilities are :

- Expenses (purchases, locations, services, etc.)

- Supplier accounts to pay

- loans or debts

- Placements or investments

- Benefits for the shareholders (if you aren't owner)

 

Account solutions for a better management

The easy and free solution for a contractor is the one about making his own accounting and a ledger book is necessary.