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Step 1
Choose between accrual or cash-basis accounting system. If you choose an accrual-basis system, then you report your income sales income for September in September, regardless of when you deposit the checks.
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Step 2
Create a Profit and Loss report. Click on Reports then on Profit and Loss. Next you will see 12 options for creating a profit and loss statement (standard, year to date comparison, previous year comparison, by job, by class, detail, income by customer summary, income by customer detail, expenses by vendor summary and expenses by vendor detail).
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Step 3
Select Standard. This selection will produce income and expenses for the current year. Once this is selected the program will produce a statement automatically for the current date. On the top of the report you will find a report button bar and to the left of this bar you will find a scroll where you can select various date ranges. In the middle of the button bar you will find a date From and To, use this to manually enter your date ranges.
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Step 4
Complete other reports. Most software will include other reports such as: a balance sheet, payroll reports, accounts payable and income tax summary. You can also create custom reports.
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Step 5
Make a graph. Click on Reports then on Graphs. You will receive a list of the following six options: income and expenses, sales, accounts receivable, accounts payable, net worth and budget vs. actual. The software will create a graph for each of the categories above.
