Navigating the Reports Center

Before we dive into how to navigate the Reports Center, let’s cover the five key reports that business owners like yourself should be looking at on a regular basis:

• The profit and loss report (also known as the income statement)
• The balance sheet report, which will provide you with your net equity for the business
• The accounts receivable aging report, which will show you the total amount owed by your customers
• The accounts payable aging report, which shows what you owe creditors and suppliers
• The statement of cash flows, which shows your cash flow activities.

These reports will help you evaluate your business finances and make more informed decisions. In the next few chapters, we will explore generating, customizing, and using each one. As you will see, there are a lot more reports available within the Reports Center, too, which allow you to dig into the details of every aspect of your business.

In...