In Chapter 9, Report Center Overview, we explained how to navigate the report center, the reports that are available based on your QBO subscription level, and how to customize reports to meet your business needs. In this chapter, we will discuss the three primary reports that provide a good overview of your business: profit and loss statements, balance sheet reports, and statements of cash flows. We will explain what information is included in each report, how to customize it, and how to generate the report. Plus, we will show you how to create a budget from scratch so that you can keep track of your income and expenses in relation to the set budget for the year. This information will go a long way in helping you make decisions about your business.

The following topics will be covered in this chapter:

• Generating balance sheet reports
• Understanding the...