Read your P&L and balance sheet
The two reports every owner should glance at.
The Profit & Loss shows whether you're making money over a period. The Balance Sheet shows what you own and owe at a point in time.
What you'll do
Find your P&L and balance sheet.
- 1Open Reports for your Profit & Loss and Balance Sheet.On a computer
On your phone
Reports.
- Profit & Loss = income minus expenses for the period.
- Balance Sheet = your assets, liabilities and equity right now.
- Compare periods to spot trends — is profit growing? Are costs creeping up?
- Drill into any number to see the transactions behind it.
Tip
Check your P&L monthly. If a cost jumps, the AI insights panel usually explains why.
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