As a small business, your balance sheet tells a story of growth and investment. You have equipment, inventory, and a steady stream of accounts receivable. While these assets look great on paper, they don't pay the bills. Cash does. Many established business owners find themselves in a paradoxical situation: the business is asset-rich but cash-poor. Your capital becomes "frozen," tied up in things that aren’t immediately available to cover payroll, invest in new opportunities

As a business owner, you have signed your fair share of contracts. In the early days, getting a vendor agreement in place was a sign of progress, a necessary step to secure supplies, software, or services. Now, with a more established operation and a deeper understanding of your finances through QuickBooks, you realize that not all contracts are created equal. Some of the agreements you signed years ago may now feel restrictive, unclear, or simply overpriced for the value they deliver. 

What started as essential costs can bloat over time, with old software subscriptions, underutilized services, and inefficient vendor agreements quietly draining your bottom line. Conducting a thorough expense audit is like opening a storage chest you have not looked in for years; you might find junk to discard, but you could also uncover valuable treasure in the form of significant savings. This guide provides a strategic framework for established businesses to audit expenses, cut waste