Small Business Owners - Your most vital reports?

[Tommy Trussell]

On Fri, Dec 19, 2014 at 9:49 AM, Lou <zquark32 at gmail.com> wrote:

> I must say, I have not been utilizing my financial reports in GnuCash.  It
> has simply been a way to track everything for tax purposes.  Now that my
> business is growing, I'd like to hear from some of you more finanically
> savvy GnuCash business owners.
>
> My request is two pieces of information.
>
> 1)  The type of reports.
> 2)  What you find useful about the report.
>
> I think we can make a list that is useful to many others in the same boat.
>
>
I don't think my situation is "typical" but I wanted to describe it anyway
because I think it represents a "minimal" business usage others might find
helpful.

I manage several small entities (including my own personal finances) with
GnuCash, but haven't needed the "business features" of GnuCash because I
don't have to keep track of lots of customers.

Every year I turn over reports to my accountant for tax preparation.

The only three reports I regularly give to the accountant are:

1) Income Statement

2) Transaction Report (making sure it lists every transaction in and out of
all asset accounts)

3) Several "saved customized" (I'm not sure of the exact term) transaction
or account reports to track things like loan balances or payments to
individuals.* (I save a named custom report for each type of report for
each business entity.)

The accountant may possibly generate some other aggregate reports for
internal purposes (based upon my figures).

*I don't have any employees, but I pay the accountant to generate IRS 1099
statements for every person I pay, so I have a separate expense account for
each person. That info also appears on the Income Statement, but I generate
a separate report for the 1099 statements due by the end of January (when
the accountant doesn't need the other information yet).



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