How to Create a Financial Statement in QuickBooks

Financial statements give the business owner a picture of the company's overall health.

A company's financial standing is ascertained by reviewing its financial statements. The profit and loss statement provides overall net income and loss figures over a period of time, while the balance sheet details a company's net worth. When business transactions are accurately input to QuickBooks, the program can generate the statement reports. Whether the reports are used to review the health of your business or to apply for a loan, financial statements are an essential tool for managing your business.

Instructions

1. Select "File," then "Open or Restore Company" at the QuickBooks menu.

2. Select "Open a company file," then click "Next." Select the file you wish to access and click "Open."

3. Click "Reports," then "Company & Financial." Select from a list of available financial statements. Click your selection to generate the financial statement of your choice.

4. Modify the date range at the top of the statement based on your preference. Click "Refresh" to update.

Tips & Warnings

• Reconcile the financial accounts, such as the checking and credit card statements, to generate an accurate financial statement.

References

• QuickBooks Support: Create and Use QuickBooks standard reports