Good Financial Reads: For Small Business Owners (Part Two)

2 min read
April 16, 2021

for small business owners part two

5 Common Small Business Accounting Mistakes [Video]

by Michelle Smalenberger, Financial Design Studio, Inc.

Here are five common small business accounting mistakes.  Let’s go through these together. They are in no particular order, but five that I find are very common and happen frequently.

[Watch the Video]


What Is A Reverse EIN Lookup?

by Sahil Vakil, MYRA Wealth

If you own a business, you likely have an EIN (Employee Identification Number) that identifies your business. As a business owner, it’s important to know how to look your EIN up, what you can do with it, and how to do a reverse EIN lookup. 

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Management Reviews for Business Owners

by Michelle Smalenberger, Financial Design Studio, Inc.

As a business owner you are busy creating your products and delivering your service to your clients and your customers, but do you have time for management reviews?  You have to make time to manage your business.  As part of our accounting and bookkeeping services there are a few things we provide to business owners to help you stay on track. We can help you to do this along the way so it’s getting the same priority level and attention that you’re putting into your business to create the product or service.  

[Watch the Video]


Business Owners- Profit and Loss Statement

by Michelle Smalenberger, Financial Design Studio, Inc.

Here’s what every small business owner needs to know about the profit and loss statement (P&L).  It’s essentially what you make and what you spend to get to your bottom line. 

What you make means revenue, sales, and cash inflows.  What you spend is what you are buying and what your cash outflows are. Subtracting your outflows from your inflows gets you to a net profit/loss.

[Watch the Video]


For more information for small business owners, be sure to check out:

Good Financial Reads: For Small Business Owners

Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.