The businesses that make it through tough times aren't necessarily the most profitable—they're the ones that see problems coming and have time to respond. In a market where 22% of owners struggle to cover basic bills, having 13 weeks of cash visibility isn't just nice to have—it's your competitive edge.

You wouldn't build a house without a solid blueprint, and you shouldn't run your business without a well-organized chart of accounts. Think of your chart of accounts as the filing system for all your financial transactions—it's the backbone that supports every financial report, tax return, and business decision you'll make.

Ever stare at your P&L and feel like you're trying to decode a foreign language? You're not alone. According to QuickBooks®, nearly half (42%) of small business owners had limited financial literacy before starting their businesses. Many have lost potential profits as a result. I don't want that to happen to you. Let's break your P&L down into pieces that actually make sense.

As an Iowa small business owner, you wear many hats — from sales and customer service to operations and finance. While your passion likely lies in your products or services, managing your books is a critical foundation for sustainable growth. Like establishing strong roots before a prairie plant can flourish, properly setting up your financial systems helps your business thrive long-term.