Let’s be honest, bookkeeping isn’t exactly the word that sets your heart racing.

You might look at your Profit & Loss (P&L) statement and think, “Great! My business is profitable, so I should have plenty of cash.”

Budgeting Basics: Why Every Business Needs One

A budget might sound like a complicated financial tool, but at its core, it’s pretty simple: it’s an estimate of your income and expenses, broken down by month and by category, in as much detail as possible.