Welcome to my “Building Better Business Finances” series.

We’ll explore various QuickBooks reports and tools that will help you keep a close eye on your finances.

Let’s drop anchor and begin with a closer look at the Profit and Loss report.

MANY NAMES – ONE GOAL

The profit and loss report has a number of different names, including:

• P+L report
• Income statement
• “How did we do this month” statement
• And of course, the profit and loss report

No matter what you call this report, it helps you answer one critical question:

“Did my business make money this month (quarter/year)?”

SEE THE QUICKBOOKS PROFIT AND LOSS REPORT IN ACTION

In this video, I’ll demonstrate to you how the QuickBooks Profit and Loss report works.

Bonus tips in the video:

• How to compare the current month results to the prior period. For example, compare the current month to the same month a year ago or the prior month
• How to quickly and easily “spread out” your profit and loss report to show columns by month, quarter or other bucket of time

NEED HELP SORTING OUT YOUR BUSINESS FINANCES?

I welcome the opportunity to help your business be more profitable and improve your cash flow. Learn more about my part-time controller and CFO services today!