Invoice Simple gives you access to two separate reports to track finances and profits, all in one place! To access these reports, go to Bookkeeping and hit the Reports tab.
You will have two selectable options at the top of the screen; Profit & Loss and Balance Sheet.
Profit & Loss shows how much money your business made in revenue versus how much it spent in expenses over a selected time period.
The Balance Sheet gives you a snapshot of your business’s financial position at a selected point in time. It lists your finances into five categories:
Revenue – such as sales
Expenses – such as retail supplies or rent
Assets – such as cash, inventory, or equipment
Liabilities – such as loans or unpaid bills (called liabilities)
Equity – the value of the business after paying debts
