General Ledger Profit and Loss Reconciliations Sales 
CFO Share
MAY 22, 2024
Small businesses have three key financial reports: the balance sheet the income statement (aka profit and loss statement) the cash flow statement A statement of retained earnings is a fourth report common for large, public corporations, but isn’t as useful for small businesses. You won’t be able to sell your business.
CFO Share
JULY 14, 2022
Do your profits and cash flows make no sense? Too many general ledger (GL) accounts. Too many general ledger accounts. That can lead to “GL diarrhea”: too many ledgers, multi-page P&Ls, and unusable financial statements. Accurate costing is key to a useable profit and loss statement.
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