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Waves bookkeeping2/29/2024 The sales tax report shows you the tax paid on sales and purchases, so that you can file your taxes accurately. Use the comparative reporting feature to compare the net cash change between two periods, and see a breakdown of the differences in cash flow by account type in the summary view. This measures your cash inflow minus your cash outflow, to show how much actual cash you brought in after expenditures. Using this report, you can see how much useable cash is available to your business at a given time.Īt the top of the report, is the net cash change for the reporting period you have selected. The cash flow statement shows how much money is moving in and out of your business. There is a lot of detail in the retained earnings section under equity, to give you a clearer picture of your business's value with each balance sheet that you generate. Click Show Details to expand the report, to show you the specific accounts that feed into the totals for each. When you generate a balance sheet, you first see an overview with a breakdown of your assets, liabilities, and equity accounts. ![]() This provides you with an overall picture of the value of your business at a given time. Balance sheetĪt the top of your balance sheet, there is a display of the total funds between cash and bank accounts, your accounts receivable, and accounts payable. Learn how to read a profit and loss statement. Once you select the two date ranges, Wave generates the total change amount and percentage. At the top of the page, below the date field, click Compare to a prior period. You can compare reporting periods in your profit & loss report. This gives you a breakdown of your total income, minus the total cost of goods sold, minus total operating expenses, generating the net profit total.Ĭlick on Show Details to expand each section to show your income and expenses broken down by account. When you first generate the report, you’ll see a summary. ![]() Total Income, Cost of Goods Sold, and Operating Expenses appear at the top of the report along with the Net Profit for the date range you select. The profit & loss report or income statement shows you the total income and expenses for a selected period. To export your report in CSV or PDF format, at the top right, click the Export button. While you can use the filters on each report to generate reports that meet the filter criteria, you cannot create a custom report. ![]() At the top of a report, click Report type, then select Accrual or Cash Basis. You can switch between report types (accrual or cash basis) on certain reports.
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