89 \\ Why Your Bank Balance Lies: CPA Advice on Cashflow Statements for Business Owners
- Author
- Tiffany Phillips - CPA, Small Business Money Mentor, Financial Expert
- Published
- Thu 21 Mar 2024
- Episode Link
- https://smallbusinessfinance.podbean.com/e/89-the-fatal-flaw-why-relying-on-your-bank-balance-could-kill-your-business/
Are you using your business bank account as the measure of success? That’s a big mistake. In this episode, we dig into why your bank balance doesn’t tell the full story of your business health and what to look at instead. You’ll learn why your profit and loss statement rarely matches your checking account, the impact of loans, owner’s draws, and depreciation, and how this confusion can stall your growth. Most importantly, we talk about cashflow statements—what they are, why every growing business needs one, and how they can help you make smarter decisions. If you’re tired of guessing whether your business is on track based on your bank balance, this CPA advice will give you a better way to measure success and plan for growth.
Next Steps:
💰Pay Less in Taxes – Start Here! 💰
☎️ Are you overpaying in taxes every year? Schedule a FREE discovery call to find out!
📧 Contact Me --> [email protected]
📲 Follow me on IG @ the.tiffany.p.cpa
