Sage Cloud Accounting: Your Money, But Less Stressful
H2: Understanding Your Profit and Loss Report Your Profit and Loss (P&L) report, often called an income statement, is the financial snapshot of your business’s health. It’s like a report card, but for your money. While it might look intimidating with numbers and jargon, it’s actually a powerful tool to help you understand where your money is coming from and going. Decoding the Jargon Let’s break down some key terms you’ll find on your P&L: An intro to Sage Business Cloud Accounting Revenue: This is the total amount of money your business brought in during a specific period. It’s like your paycheck. Expenses: These are the costs associated with running your business. Think of them as your bills. Gross Profit: This is the difference between your revenue and the cost of goods sold (COGS). It’s like your paycheck minus the cost of the products you sold. Operating Expenses: These are the costs of running your business, excluding the cost of …