Best Accountants in Newtownabbey

7 reports that a professional freelancer should produce from their accounting software each month for review... Income Statement (also called Profit and Loss Statement): This report shows your revenue, expenses, and net income for a given period. It helps you track your business's financial performance over time. Balance Sheet: This report shows your assets, liabilities, and equity at a specific point in time. It helps you understand your business's financial position. Cash Flow Statement: This report shows how much cash you have coming in and going out of your business. It helps you manage your cash flow and ensure you have enough cash to cover your expenses. Accounts Receivable Aging Report: This report shows how much money your customers owe you and how long it has been outstanding. It helps you track your outstanding invoices and manage your collections process. Accounts Payable Aging Report: This report shows how much money you owe your vendors and how long it has been outstanding. It helps you manage your cash flow and ensure you pay your bills on time. Sales Report: This report shows your sales by product or service, customer, or sales rep. It helps you understand which products or services are performing well and identify areas for improvement. Expense Report: This report shows your expenses by category, such as office supplies, travel, and utilities. It helps you track your spending and identify areas where you can cut costs.