Financial Reporting Software: The More You Know The More You Grow
The Dashboard, Your Daily Answer to “How’s Business?”
With a high-level snapshot of your financials, the Reports Dashboard shows the at-a-glance financial reporting you need: revenue, profit, and expenses. You’ll know which clients need invoicing and see unbilled revenue you’re missing out on.
File Early or Late, but File Your Taxes With Ease
Scanning spreadsheets at tax time sound familiar? FreshBooks Reports (Profit and Loss, Sales Tax Summary, and Balance Sheet) track everything year-round to make tax time easy.
Get Granular Info To See Where Your Business Stands
Generate reports about clients, time periods, currencies and more with report filters, then export and send to your team or accountant. Also, bookmark and save filters for easy use next time.
Reports and Statements to Track Financial Habits, Good and BadTry Reports, Get Insights
Profit & Loss
View total income and expenses so you know exactly how profitable you are
Sales Tax Summary
Know the sales tax paid and collected in any period to make remittances a breeze
All business assets, outstanding debts/liabilities and owner/shareholder equity
Expense Details Report
A detailed breakdown of where you spend money in any given time frame
Know every dollar in and out for a complete record of all financial accounts and transactions
A complete summary of overdue invoices
Cash Flow Statement
A view of all money flowing into and out of your business
A list of balances for each General Ledger account to ensure there are no missing transactions and that debits = credits
Have Lots of Clients and Want to Save on Billing?
Our FreshBooks Select Plan could be the solution for you, saving you time and money.
The Select Plan includes:
- A dedicated account manager to train your team and migrate your books from other platforms
- Access to lower credit card fees and transaction rates
- 2 free team member accounts
Learn How Reports Can Support Your Business
The 5 Most Important Financial KPIs That Drive Business Strategy
[eBook] Unlock Your Growth Potential with Working Capital
3 Reports You Can’t Live Without at Tax Time
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Frequently Asked Questions
Can I Generate Profit & Loss Reporting in FreshBooks?
Absolutely. FreshBooks makes it easy to keep a close eye on the bottom line of your company with Profit & Loss Reports (also known as the income statement) you can whip up in seconds. An income statement or Profit & Loss Report is one of the three important financial statements used for reporting a company’s financial performance over a specific accounting period, with the other two key statements being the Balance Sheet and the Cash Flow Report
You can run a Profit & Loss report for any time range by going to the Reports section of your account and selecting “Profit & Loss” under “Accounting Reports”. Your Profit & Loss report will be broken down into several sections. The “Income” section will be broken down by Sales, Other Income, and Cost of Goods Sold. The “Expenses” section will display all of your Expenses during your selected date range. The “Net Profit” section will display your Income less your Expenses to give you a total amount earned.
I Need to Know Where I Stand With My Clients. Does FreshBooks Have a Report or Statement That Shows Me That?
Yes! The Client Statement report gives you key information like an outstanding balance, Invoices and Payments history, and available Credits. Understanding client behaviors is an important part of financial reporting. It’s essential to proper analysis of your books in order to support your financial and business decision making.
You can run an Account Statement for a client by going to the “Clients” section of your FreshBooks account and then clicking on the client you would like to run a statement for. You can then select “More Actions” and click on “Generate Statement” to get your Client Statement report.
While not a typical financial statement, once you’ve generated your Client Statement for your preferred date range, you can send the report to your client, export it to Excel, or print it.
How Can I See at-a-glance All the Time My Team and I Have Tracked?
Your financial reporting isn’t complete without the Time Entry Details Report. It shows you all the time you and your team (including contractors) have tracked over a specified period. You can customize this report to show you a particular range of time entries, along with their notes, using the optional filters.
You can run a Time Entry Details Report in the Reports section of your FreshBooks account by clicking on Time Entry Details under Time Tracking Reports. Once you’ve run your report, you can adjust your view through a number of filters: Date Range, Group, Client, Currency, and Amount.
Once you’ve adjusted your report to a view that makes the most sense for you, you can export your report to Excel or print it.
Does FreshBooks Have a Report That Can Show Me How Much Sales Tax I Collect and How Much I Spend?
Yes! The Sales Tax Summary report shows you how much you’ve paid in taxes on Expenses over a certain period and how much you’ve collected. In terms of financial reporting, the sales tax report is essential at tax time.
You can run a Sales Tax Summary Report and other financial reports in the Reports section of your FreshBooks account by selecting Sales Tax Summary under Accounting Reports.
Once you’ve generated your report, you can adjust your view by clicking on Filters under Settings. From here, you can adjust the Date Range, Sales type (Billed vs. Collected), and Currency type.
The top left of your report will show you Total Billed or Total Collected, which will show you the total overall value you have either invoiced for or collected during your selected date range.
When you have adjusted your report using the appropriate filters, you can export your report to Excel or choose to print it.
What is the Cash Flow Report?
The Cash Flow Report (or cash flow statement) shows you exactly how much cash you have on hand with money entering and leaving your business. This includes any Expenses that are depreciating over time. A Cash Flow Report is one of the three important financial statements used for reporting a company’s financial performance over a specific accounting period, with the other two key statements being the Balance Sheet and the Profit & Loss Report (income statement).
Get everything you need to know about the cash flow report here: https://support.freshbooks.com/hc/en-us/articles/360053477331-What-is-the-Cash-Flow-Report-