Thank you for meeting with me to go over the financial worth on my business. I need to look over my expenses , and make a effective plan to help reduce my expenses.
After analyzing your income statment, and reviewing your expenses and revenue, your business is doing very well. Your business did very well as it made a large profit, revenue exceeded expenses.
That sounds good. I was worried about the financial worth of my business. However I also have questions about my recent purchases.
I recently expanded my business to another building.
To update your purchase of a major asset I need to add that transaction in the balance sheet.
I also bought supplies which I will pay within 30 days. Do I need to record this transaction?
Yes, that is a liability which needs to be accounted for a written in the books until you pay it off.
Thank you for informing me of your recent transactions, as we must keep the business record up to date to ensure the financial worth of your business. I will update the books and we can set another appointment soon.
Any other concerns or questions I can account for?
No, thank you. I appreciate your advice for my financial needs of my business to make effective decisions.