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How to use this template?
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1) Install LiveFlow here
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2) Open LiveFlow -> Go to Extensions -> LiveFlow -> Get started
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3) Connect your QuickBooks company to LiveFlow.
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4) Head over to the Manage Reports tab in LiveFlow.
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5) Click on the Live Profit and Loss & Live Balance Sheet Report -> Click "Change Company" -> Change it to your own company
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Done!
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-> Learn to create dynamic dashboards with the Index/Match formula. MUST WATCH 📹 🔥
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Choose Quarter -> Q1 2023 Last Updated •03/26/2023 12:45:24
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P&L by QuarterAmountBalance Sheet By QuarterAmount
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IncomeASSETS
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4001 Online Sales$900,000Current Assets
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4002 Retail Sales$720,000Bank Accounts
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4003 SaaS$135,0001000 Cash on hand$951,800
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4013 Services$513,3511010 Checking Account$682,797,214
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Total Income$2,268,351Total Bank Accounts$683,749,014
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Cost of Goods Sold$0Accounts Receivable
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5000 Cost of Goods Sold$5,000Accounts Receivable (A/R)$1,345,342
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5010 T-Shirts$120,000Total Accounts Receivable$1,345,342
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5020 Shoes$90,000Other Current Assets
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5030 Delivery Fees$885,6601096 Prepaid Expenses-$234,300
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Total Cost of Goods Sold$1,100,6601097 Inventory Asset$7,934
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Gross Profit$1,167,6911100 Inter-Company Receivable$120,000
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Expenses$0Total Other Current Assets-$106,366
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6010 Online Marketing$1,553,332Total Current Assets$684,987,991
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6020 Subscriptions$138,853Fixed Assets
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6030 Travel Expenses$272,7701200 Furniture$330,000
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6031 Flights$01201 Accumulated Depreciation Furniture-$84,000
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Total 6030 Travel Expenses$272,770Total Fixed Assets$246,000
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6040 Computers & Equipment$262,639Other Assets
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6050 Payroll$3,185,7701300 Security Deposits-$500
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6060 Office$404,770Total Other Assets-$500
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6070 Professional Services$912,827TOTAL ASSETS$685,233,491
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6080 Legal$34,200LIABILITIES AND EQUITY
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6090 Depreciation$60,000Liabilities
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6700 Uncategorized Expense$0Current Liabilities
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Total Expenses$6,825,161Accounts Payable
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Net Operating Income-$5,657,470Accounts Payable (A/P)$233,648
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Other Income$0Total Accounts Payable$233,648
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4020 Interest Earned$1,250Credit Cards
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4030 One-Off Income$1,2502001 Credit Card-$500
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Total Other Income$2,500Total Credit Cards-$500
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Other Expenses$0Other Current Liabilities
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9001 Home Office$7,2502030 Accrued Expenses$6,000
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Total Other Expenses$7,250Total Other Current Liabilities$6,000
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Net Other Income-$4,750Total Current Liabilities$239,148
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Net Income-$5,662,220Long-Term Liabilities
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$02100 Notes Payable$701,452,049
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$0Total Long-Term Liabilities$701,452,049
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$0Total Liabilities$701,691,197
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$0Equity
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$03020 Retained Earnings-$11,535,486
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$03030 Common Stock$640,000
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$03050 Additional Paid-In Capital$100,000
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$0Net Income-$5,662,220
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$0Total Equity-$16,457,706
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$0TOTAL LIABILITIES AND EQUITY$685,233,491
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