3 Benefits of Monitoring Your Profit & Loss Statement

  • June 28, 2022
  • Posted by: Spartan Digital
  • Categories: Articles on Entrepreneurship, Blog, Bookkeeping Articles, Info about finance and accounting, Small Business Bookkeeping Articles
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A Profit and Loss (P&L) statement is synonymous with the income statement and plays an important role in your business. We recently explained what a (P&L) statement is and how to use this document for your business.

Regularly running a P&L statement is essential to effectively monitoring your finances as a small business owner. We recommend that all small business owners do this to help them make important financial decisions and take corrective measures if necessary.

Here are 3 benefits to monitoring your P&L:

Prepares you to file taxes

Make decisions without  guesswork

Document-ready proof of the financial health of your business 

Have questions about how your Profit and Loss Statement or are you interested in having our team handle your bookkeeping and P&L monitoring? Reach out to Capri Bookkeeping Solutions Founder and CEO Ethan Capri at ecapri@capbooksusa.com.