19: Understanding Business Profitability Using Your Income Statement Or Profit & Loss Report ~ Measuring Financial Performance, Whether You're A Solopreneur, Small Business Owner, A Bookkeeper Or VA

Knowing how to read and analyze your Income Statement or Profit & Loss report is not only important, but it could be critical to the success of your small business.  Understanding how your business is performing financially will prompt strategic decisions and meaningful operating goals for the future of your business.  It will tell you if your business is profitable or not, and where you could work on cutting costs or, maybe you need to make a shift or pivot your business to turn your business from operating in the red – or showing a loss, to operating in the black – or showing a profit.  It doesn’t matter if you are doing your bookkeeping or accounting with a manual bookkeeping system such as using a spreadsheet like Excel or Google Sheets to do your bookkeeping or a computerized software system like QuickBooks or QuickBooks Online, you will still be able to generate an Income Statement for your business.  Whether you are a solopreneur, entrepreneur, small business owner, a bookkeeper with an online virtual bookkeeping business or a virtual assistant looking to add bookkeeping as a service to your existing business, listen in to today’s episode and I’ll make sure that the next time you are having a conversation about income statements, profit & loss reports or P&L’s with your colleagues you won’t feel intimidated, left out or confused.  You will be able to speak with confidence knowing exactly what they are talking about and most importantly, you will know exactly how your own business is doing because you will be looking at your Income Statement with confidence knowing your numbers are correct…   If You Have Or Would Like To Start A Bookkeeping Business, Join My Founding Members: https://financialadventure.ck.page/62c2a3a963 Grab Your FREE guide:  5 Essential Strategies For Stress-Free Bookkeeping: www.FinancialAdventure.com/5Essentials Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you: www.FinancialAdventure.com/Discovery Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you: www.FinancialAdventure.com/StarterGuide Join Our Facebook Community:  www.facebook.com/groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique QuickBooks Online - Save 50% Your First 3 Months: www.FinancialAdventure.com/QuickBooks Show Notes:  www.FinancialAdventure.com This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources