In this video, we demonstrate how to read a balance sheet, walk through some examples, and explain how to make a balance sheet for your business. Learn more about how to read a balance sheet here: https://bit.ly/2O5CBQU.

The balance sheet is one of the three main financial statements, along with the income statement and cash flow statement. Balance sheets can help business owners see the big picture: the net worth of your company, how much money you have, and where it’s kept. They’re also essential for getting investors, securing a loan, or selling your business.

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Check Out These Other Videos You Might Like:
▪ Bookkeeping Basics for Small Business Owners:
   • Bookkeeping Basics for Small Business...  
▪ Cash Flow Statements 101:
   • Small Business Accounting: Cash Flow ...  
▪ Accounting Basics For Small Business Owners:
   • Accounting Basics For Small Business ...  

Helpful Resources:
▪ How to Read a Balance Sheet:
https://bit.ly/3fkvU8N
▪ Understanding Income Statements vs Balance Sheets:
https://bit.ly/3u4aiSd
▪ Balance Sheet Template:
https://bit.ly/39jevJI

Let us know your thoughts about how to read a balance sheet in the comments below, and don’t forget to subscribe to our channel for more content about how to read a balance sheet!

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Timestamps:
0:00 - Introduction
0:45 - What is a balance sheet?
1:05 - What's included in a balance sheet?
1:35 - Why do you need a balance sheet?
3:05 - Why is it called a balance sheet?
3:12 - Balance sheet formula
3:24 - Balance sheet example
5:56 - How to create your own balance sheet

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How Bench Can Help:
Try us for free - we’ll do one month of your bookkeeping and prepare a set of financial statements for you to keep: https://bit.ly/2Wt6MoY

With Bench, you get a bookkeeping team to complete your monthly books and help you make decisions to support the best interests of your business. We’ve helped thousands of small business owners take back more time to focus on doing what they love! With Bench on your team, you’ll have properly completed books to help you:

1. Get real-time insights into the financial health of your business
2. Manage your expenses with detailed expense tracking
3. Use bookkeeping records for loan applications and loan forgiveness
4. File your taxes at tax time with our annual financial package, and make the most of your tax deductions

Plus, if you ever have questions, your dedicated team of experts are just a quick message away in the Bench app.

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About Bench:
We're an online bookkeeping and tax prep service powered by real humans. With Bench, you get a dedicated team of experts to track every detail for you. Your bookkeeping team imports bank statements, categorizes transactions, and prepares financial statements every month. Come tax season, we handle the tax prep and filing, and even offer year-round tax advisory support.

#BalanceSheets #FinancialStatements #IncomeStatement