Take control of your business finances with the right reports
When it comes to running a successful business, making informed decisions is everything. But how can you make the right decisions if you’re not regularly reviewing your financial reporting and reports?
At Moya’s Bookkeeping, we believe that financial clarity starts with understanding your financial reporting and numbers. Bookkeeping isn’t just about data entry — it’s about creating a foundation for smart growth and confident decision-making. That’s where financial reports come in.
In this post, we’ll walk you through the top five financial reporting and reports every small business owner should review — and explain why they matter. Whether you’re managing your own books or working with a bookkeeper, these are the reports that will give you a clear view of your financial health.
1. Profit and Loss Statement (Income Statement)
The Profit and Loss (P&L) statement is a cornerstone of small business bookkeeping. It summarizes your revenues, costs, and expenses over a specific period (monthly, quarterly, or annually).
Why it matters:
- Shows whether your business is making or losing money
- Helps identify your most profitable services or products
- Essential for tax reporting and preparing for investors or lenders
Regularly reviewing your P&L helps you pinpoint where you can reduce costs, increase margins, and grow sustainably.
2. Balance Sheet
Your Balance Sheet gives a snapshot of your business’s financial position at a specific point in time. It shows your assets, liabilities, and equity.
Why it matters:
- Reveals how much your business owns vs. owes
- Helps assess solvency and financial stability
- Critical for loan applications and long-term planning
Think of it as your business’s report card — it shows how well you’ve managed your finances up to that moment.
3. Cash Flow Statement
Even if your P&L shows a profit, your business can still run into trouble if your cash flow is off. The Cash Flow Statement tracks the actual flow of money in and out of your business.
Why it matters:
- Highlights periods of cash shortages or surpluses
- Helps plan for expenses like payroll, taxes, or large purchases
- Critical for avoiding overdrafts or missed payments
Cash is the lifeblood of any business — and this report tells you exactly where it’s going.
4. Accounts Receivable Aging Report
If you invoice customers, this report is a must. The Accounts Receivable (A/R) Aging Report shows how much money customers owe you — and how long they’ve owed it.
Why it matters:
- Helps monitor unpaid invoices and follow up efficiently
- Improves cash flow by reducing late payments
- Keeps you aware of who your reliable (and not-so-reliable) customers are
Regularly reviewing your A/R report keeps your income flowing and your clients accountable.
5. Accounts Payable Aging Report
Just like it’s important to track what’s owed to you, it’s equally vital to track what you owe. The Accounts Payable (A/P) Aging Report breaks down your unpaid bills by due date.
Why it matters:
- Prevents late payments and protects vendor relationships
- Helps you manage your working capital wisely
- Keeps your business financially disciplined
Staying on top of your payables can protect your credit, avoid late fees, and keep your operations running smoothly.
Bonus: Custom Financial Reports
Depending on your industry and goals, custom reports like budget vs. actuals, departmental reports, or project profitability may be valuable too. At Moya’s Bookkeeping, we offer custom financial reporting services that provide deeper insights tailored to your business model.
Why These Reports Matter
Each of these reports serves a different but essential purpose. When reviewed together regularly, they offer a complete picture of your business’s financial health. You don’t need to be a finance expert to use these tools — you just need a trusted bookkeeping partner who can help you understand them.
At Moya’s Bookkeeping, we make sure you’re not just tracking numbers — you’re making sense of them.
Need Help Making Sense of Your Financial Reports?
If you feel overwhelmed by bookkeeping or unsure about what your financial reports are telling you, you’re not alone — and we’re here to help.
We offer full-service bookkeeping for small businesses, including monthly financial reporting and one-on-one support. Whether you need a one-time review or ongoing services, we’ll guide you to financial clarity.
📊 Ready to understand your reports and take control of your finances?
👉 Book a free consultation with Moya’s Bookkeeping today.
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