Your accountant should be able to give you reports on how your business is doing, including:
Profit & Loss
This shows the profitability of your company within a specific time frame, and lets you understand if your business has made, or lost money.
Balance Sheet
This shows your Assets and Liabilities, so you can understand your financial position at the end of a given period. It’s essentially a snapshot of your business finances at a specific point in time.
Cash Flow Statement
This shows the money coming into and going out of your business, so you can keep track of your cash flow. These three reports are probably the most useful to any business owner, as they track your current financial situation, your profitability, and how healthy your cash flow is.
