InvoiceBerry Tips for for Freelancers & Small Businesses 7 Small Business Accounting Hacks for Success | Page 9

6. Make P&L Statements
Profit & Loss (P&L) Statements are the most important finance
document your business needs to have:
• they provide snapshot of company’s finances
• you can set it for weekly, monthly, quarterly or yearly
• set them for logical periods in your business cycle
• consistently create them to track your business finances
Once you start seeing the snapshots by way of your P&Ls,
you’ll be able to have a better idea of your finances.