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Know Your P&L Monthly

Data Tip

Many of my clients use Quickbooks for their accounting software. The quickest snapshot report for your business is the report Profit & Loss and it is used very often.

Here is a tip:
Make sure you look at the report Profit & Loss by Month. This snapshot tells you so much more about your business. It not only looks at the current month but you get to compare side by side each month. This gives you much better picture of your business and you may see patterns that may not have been obvious to you if you only look at the current month or only one month at a time.

Don’t wait till the end of the year to see a month by month total. Seeing the patterns only then may be the difference between profits and losses.

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