Many business owners have either bookkeepers or staff accountants to handle the month end close process. Honestly, it's not a savory activity if you are not used to dealing with numbers.
Most business owners I know do not get involved much in the accounting practices of their businesses. What can occur is a gap in knowing some of the more important financial decisions that need to be made.
This can affect the solvency of a business if you are not part of the reporting process.
Each month, at the close of each monthly reporting activity, many of the bookkeepers end up making their final entries and run their normal reports.
Not all business owners have accounting help though. So I thought I would help with this article.
I am going to offer a "how-to" article for small business owners on how to fill out a cash flow statement along with an optional template of a cash flow statement to get you started.