Generate Your Annual P&L
Your annual Profit & Loss (P&L) statement shows exactly how much you earned and spent throughout the year—essential information for tax filing and financial planning. This quick recipe walks you through pulling your complete year-end report and visualizing your monthly performance. Having your P&L ready makes year-end closeout and tax prep with your CPA much smoother.
1. Request the annual report
Start by asking Judy for your complete P&L statement for the full year. This report summarizes all your business income and expenses, giving you the bottom-line profit or loss you'll need for your tax return.
2. Get the chart
Next, visualize how your business performed month-by-month by requesting a chart of your revenue and expenses. This helps you spot trends, identify your strongest months, and understand seasonal patterns in your business.