Use Shopmonkey Accounting Reports to better understand how your business is doing. The financial statements will help your shop see profitability information, what you own and owe, and how cash is being used. Use this information to help you make smarter decisions, stay compliant, and plan for growth.

Review Financial Reports

Select the bank icon on the left-side navigation. Select Reports.

Shopmonkey Accounting provides three financial reports:

• Profit & Loss
• Balance Sheet
• Cash Flow Statement

Profit & Loss

The Profit & Loss Statement (also called an income statement) shows how much money your business made (revenues) and how much it spent (expenses) over a certain time period.

It breaks these into simple categories important for shops, so you can see:

• Whether your business is making a profit or running at a loss
• Which activities or products bring in the most money
• What categories are your biggest expenses

This report is a great way to track your performance month-to-month or year-over-year.

View the individual journal entries that make up each category in the Profit & Loss report by clicking on the number on the right-side of the report.

Balance Sheet

The Balance Sheet gives you a snapshot of your business’s financial position at a point in time.

It breaks down your business finances into three standard categories:

• What you own: such as cash, inventory, or equipment (called assets)
• What you owe: such as loans or unpaid bills (called liabilities)
• What’s left over: the value of the business after paying debts (called equity)

This report helps you assess the overall financial health of your business.

Cash Flow Statement

The Statement of Cash Flow shows how cash moves in and out of your business. It tracks cash from day-to-day business operations, cash used for investments (like new equipment), and cash from financing (like loans or capital from owners).

This report helps ensure you always have enough cash to pay bills, make payroll, and invest in your business at the right time.

Still have questions? Feel free to reach out to us through the chat icon. Thanks for reading!