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Financial Reports

Professional accounting reports: P&L, Balance Sheet, Cash Flow, and Tax Reports

📍 Location: View reports at /accounting/reports

Available Reports

📊 Profit & Loss (P&L)

Revenue minus expenses = net profit. Shows business profitability over any period.

💰 Balance Sheet

Assets = Liabilities + Equity. Snapshot of business financial position at specific date.

💵 Cash Flow Statement

Track cash coming in and going out. Operating, investing, financing activities.

📄 Tax Reports

Sales tax collected, 1099 forms, Schedule C data. Simplify tax filing and compliance.

Profit & Loss Statement

The P&L shows whether your business is profitable. Essential for tax returns, loan applications, and strategic planning.

How to Generate

  1. Go to /accounting/reports
  2. Select "Profit & Loss Statement"
  3. Choose date range (month, quarter, year, custom)
  4. Select comparison option (vs previous period, vs budget)
  5. Click "Generate Report"
  6. Export to PDF or Excel

Example P&L Statement (January 2025)

REVENUE
Product Sales$48,250
Service Revenue$12,890
Total Revenue$61,140
COST OF GOODS SOLD
Product Costs$24,125
Gross Profit$37,015 (60.5%)
OPERATING EXPENSES
Payroll$12,400
Rent$3,500
Utilities$850
Marketing$1,200
Other Expenses$2,340
Total Expenses$20,290
NET PROFIT$16,725 (27.4%)

Balance Sheet

Snapshot of business financial health at specific date. Shows what you own (assets), what you owe (liabilities), and owner's equity.

Balance Sheet Equation

Assets = Liabilities + Owner's Equity

Example Balance Sheet

ASSETS
Cash$25,430
Accounts Receivable$8,250
Inventory$16,010
Equipment$12,500
Total Assets$62,190
LIABILITIES
Accounts Payable$5,840
Business Loan$15,000
Total Liabilities$20,840
OWNER'S EQUITY$41,350

Cash Flow Statement

Tracks actual cash moving in and out of business. Critical for understanding liquidity and ability to pay bills.

Three Categories

  • Operating Activities: Day-to-day business (sales, expenses, inventory)
  • Investing Activities: Equipment purchases, asset sales
  • Financing Activities: Loans, owner investments, dividend payments

💡 Why It Matters: Profitable businesses can still fail due to cash flow problems. Monitor cash closely to avoid running out of money.

Tax Reports

Sales Tax Report

Track sales tax collected by jurisdiction. File returns monthly, quarterly, or annually:

  • Total taxable sales
  • Tax collected by rate (state, county, city)
  • Tax-exempt sales
  • Amount owed to tax authorities

1099 Forms

Report payments to contractors and vendors over $600/year:

  • 1099-NEC for independent contractors
  • 1099-MISC for rent, legal fees, other services
  • Auto-generate forms from vendor payments
  • E-file directly to IRS (Enterprise plan)

Schedule C Data

Export profit/loss data for IRS Schedule C (sole proprietors):

  • Gross receipts or sales (Line 1)
  • Cost of goods sold (Line 4)
  • Expense breakdown by category (Lines 8-27)
  • Net profit or loss (Line 31)

Need Accounting Help?

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