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Balance Sheet

Balance Sheets Explained

In our last 2 blogs, we explored the chart of accounts. We looked at the accounts within the chart in detail and explained that each account has a special part to play within the profit and loss report and the balance sheet. This week we thought it would be a good idea to review balance sheets, what they are, what they look like and how you can use them to better understand what is happening behind the scenes in your business. Next week, we do the same thing with the profit and loss report.

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