A balance sheet (a.k.a. statement of financial position) gives you a financial snapshot of your business as it currently stands.

🏁FREE balance sheet template here if you want to get started now: https://www.freshbooks.com/accounting...

The balance sheet tells you exactly how much money and equity you have to work with. A useful balance sheet is kept up to date on a daily basis, so you always know how your business is performing.

If you’re growing your business or want to take advantage of bigger projects, understanding your balance sheet can really help.

In this video, get answers to all your burning balance sheet questions, like: What’s included in a balance sheet? How is a balance sheet structured? How do you use your balance sheet? Why do you need a balance sheet?

Want to understand what assets, liabilities, and equity say about your business? You’ll find that, too. Plus: What the heck are liquidity, efficiency, and leverage?

⏱Timestamps:
0:00 Introduction
0:07 What Is a Balance Sheet?
0:40 Parts of a Balance Sheet
2:23 How to Use Your Balance Sheet
4:41 Summary

👓Read more about balance sheets here:

What Is a Balance Sheet?
https://www.freshbooks.com/hub/accoun...

How to Read a Balance Sheet?
https://www.freshbooks.com/hub/accoun...

A Beginner's Guide to Financial Statements
https://www.freshbooks.com/blog/finan...

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