Profit & Loss statement
A profit and loss statement shows all your revenue and expenses. The P&L can also be called the income statement or earnings statement. Items on the profit and loss can include things like payroll, advertising, rent and insurance. It will also show your earnings from sales and other forms of income. Your total profit or loss for the time period is what you’ve earned minus what you’ve spent. If this amount is positive, it’s called a net income. If it’s negative it’s called a net loss.
The balance sheet presents a company’s financial position at the end of a specified date. For Xendoo clients, a balance sheet is provided on a monthly basis. Some describe the balance sheet as a “snapshot” of the company’s financial position and adheres to the following equation, where assets on one side, and liabilities plus shareholders’ equity on the other, balance out:
Assets = Liabilities + Shareholders’ Equity
Numbers at your fingertips
Xendoo’s mobile app allows you to access all of your business’s financials reports from wherever you are. Login to our mobile app to view financial reports and other documents. Easily export and send these reports via email to partners or shareholders.
A full-service accounting solution for one low, monthly, flat rate. All packages include weekly bookkeeping, financial reports and tax consulting. Additional packages include the corporate tax return and tax planning.
Say goodbye to paper receipts and bank statements. We digitally reconcile your expenses each week and provide you with financial reports so you can keep a pulse on your business’s financial health.