This article addresses two popular financial reports that insurance auditors typically request from a business for general liability purposes (Also known as an Insurance Premium Audit). Please Note: Your particular insurance auditor may request information such as: Sales/Receipts Financials including the P&L OCIP Sales/Cost by Project Direct Labor Costs as a percentage of
Read MoreIf you are a small business owner and are actually reviewing your business financial reports from time to time, here are some tips to help see potential dangers on your Income Statement (Profit & Loss) report: Negative Account Balances Negative account balances on your Income Statement (Profit & Loss) means perhaps this particular account is
Read MoreIt is always important to understand which types of reporting analysis will keep you moving to the next steps toward your ultimate goals. You don’t have to process the exact same reports that someone else finds helpful. You simply need to understand that making progress toward your financial goals will require ongoing, big-picture, realistic views
Read MoreThere are lots of financial reports in QuickBooks you can process or create to assist you in your business analysis. Some reports are standard across the board and some reports can be customized to an individual’s desire. Once I verify which accounting method (accrual-based or cash-based) is typical for the client, I can create reports
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