When it comes to small business accounting, most people know that it is important to keep your records updated for taxes. However, there are many more benefits from small business accounting that you can use to grow, improve and expand your business. Here are some of the most important accounting reports for your small business that you should know about. Profit and loss statement/income statementThe most important report for any business is the profit and loss statement, also called a P&L or income statement. This report tells you how much money a business makes, as well as a lot more. … Continued
