Profit & Loss
We offer Bookkeeping Services to help clients secure a sound financial future.
- Profit and loss statements are important because many companies are required by law or association membership to complete them. Aside from this, a profit and loss statement will help the company to understand their net income, which may be helpful in decision-making processes. For example, a business owner may consider whether his or her company is bringing in enough of a profit to justify renovating their building or expand or grow in other ways. You will also likely need a P&L if you are considering applying for a small business loan.