[GNC] Statement of Financial Position

[Michael or Penny Novack]

On 11/26/2025 7:57 AM, Ken Pyzik wrote:
> Hi Geoff — If you go to Reports >>>Assets and Liabilities>>>Balance Sheet or Balance Sheet (Multicolumn), this should give your account what he needs.  He may also ask for a cash flow and if he asks for that, it is Reports>>>Income and Expenses>>>Cash Flow.
>
> The first shows you current financial positions.  The second shows your summary of income and expenses so that he can determine whether you are making money or losing money.
>
> Hope this helps.
>
> Ken

He may also want an "Income statement" (aka P&L, etc.). THAT (not the 
cash flow) indicates whether making or losing money. You might also need 
the ch flow but that is showing your cash position. You could be OK for 
cash (in the short run) but bleeding red ink (losing money) or you could 
be raking in profit but in danger of not having enough cash in hand for 
operations.

Michael D Novack

PS: ASK your accountant which of these reports he/or she wants