Now that we’ve discussed some basic accounting terminology and showed you how to record your business transactions using spreadsheets, let’s talk about what you can do with those spreadsheets. Keeping your bookkeeping up to date allows you to have a reliable measure of your business’s financial performance. This is only possible if you use your bookkeeping to create financial reports. We included an income statement with our Google Sheets bookkeeping template. If you are completing more than one month of bookkeeping, you will need to transfer your income statement items to the financial statements tab each month.  Creating Your Income Statement  [...]