Time to find out how the business is doing. Let's take a look at how to get the Profit and Loss and Balance Sheet reports.
Profit and loss
We’re in business for lots of reasons and one of them is to make a profit.
After we've recorded all the activity (correctly!) we can use this report to determine how well the business has performed.
Balance Sheet
At any point in time we want to know the value of our business.
The profit/loss fits into the Equity section of the balance sheet as it's money owned by the business owner.
A quick glimpse of Business Insights and Profitability and then Customer Analysis_ what customers owe you… so you know who to chase up.
Then how to run reports
Talk about the filters and account levels
Tip: add account numbers to your profit and loss
More on reporting the next day ….Getting more out of AR...