Understanding QuickBooks Reports

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QuickBooks offers a wide range of reports to help you understand your business's financial position. Here are some key reports you should be familiar with:

  • Profit and Loss Statement: Shows your income and expenses over a specific period.
  • Balance Sheet: Provides a snapshot of your company's financial position at a specific point in time.
  • Cash Flow Statement: Tracks the flow of cash in and out of your business.
  • Accounts Receivable Aging: Shows outstanding customer invoices and how long they've been unpaid.
  • Sales by Customer Summary: Helps you identify your top customers and analyze sales patterns.

To learn more about financial reporting, visit the U.S. Small Business Administration's guide on managing business finances.

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