Business reports are essential regardless of size or industry. They allow you to track and evaluate your company's performance.

Once you have been operating for a while, it's time to take stock of where you are at and see what improvements you need to make. Run reports, read and understand them to make better decisions based

There are many different types of business reports. The following are some of the most common:

•Profit & Loss and Balance Sheet
At a minimum, running your Profit and Loss and Balance Sheet reports will give you an overview of how your business is running. It's important to understand what these reports are for so that you know when something is amiss and you need to make adjustments.

•Cash Reports
Your cash reports show the money coming in and out of the business, whereas your Profit and Loss and Balance Sheet are based on the invoices in and out, regardless of if they have been paid. These reports reflect a more accurate reflection of your bank balance.

•Payroll Reports
Check that all aspects of payroll are set up properly and reporting accurately. Make sure all of your staff are paid according to the rules in your industry (Award or Contract). Use these reports to see Leave owing, Super payable and taxes payable, and to check when finalising payroll at the end of financial year.

•Budgeting
Work through setting up a budget and regularly monitoring throughout the year. A budget doesn't have to be done just once to set and forget. Review costs, review income, find different ways to innovate to make more profits.

•Regular Reporting to Analyse your Business
Once you have been operating for a while, it's time to take stock of where you are at and see what improvements you need to make. Run reports, read and understand them to make better decisions based on up to date information.

•Tax Strategy Sessions
How's your tax position? By using a combination of all of these reports we can forecast your current year taxes and meet with us to talk through any strategies to reduce tax or improve your business.