1st CHICAGO ACCOUNTING

Profit Building and Bookkeeping Course

The Profit & Loss Month by Month

This next lesson is really cool. I call this the Profit and Loss By Month. This is a very powerful tool for identifying trends in your business. The nice thing is this report is very visual. It basically takes a summary view of the General Ledger but makes it so you can see trends.

I will walk you through this step by step in QuickBooks 2015. This report is a basic Profit and Loss but we make a couple of modifications, and the usefulness of the report explodes. Once you create this, simply just memorize it in QuickBooks. I am going to show you this on a monthly example, however, I use it on a daily, weekly, and even yearly.

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