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Tax time is the dreaded time of year for small business owners. Luckily there are reports inside FreshBooks that can help:
- Profit & Loss Report: The king of all reports, your Profit & Loss lists all the money you’ve brought in this year as well as all of your expenses—giving you a net profit or net loss. This is an essential report come tax time, as it contains the information you’ll need to report on for your tax returns.
- Expense Report: While the Profit & Loss report is perfect for an overview, sometimes you need to really dig into the numbers. You may be asking yourself why your expenses were so high in a certain month, or why you have expenses categorized a certain way. That’s where the Expense Report will come in handy.
- Payments Collected: Now that you’ve looked at your expenses, you can focus next on money that’s flowing into your business—your income. The Payments Collected report gives you a breakdown of all the payments you’ve received, when they occurred, which client they came from and the method of payment.
The all-new FreshBooks is not only ridiculously easy to use, it’s also packed full of powerful features:
Create and send professional looking invoices in less than 30 seconds.
Set up online payments with just a couple of clicks and get paid up to 4 days faster.
See when your client has seen your invoice and put an end to the guessing games.
Sign up for the free trial: FreshBooks Cloud Accounting - Free Trial
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