Is the business making money

The Profit and Loss tab in your business workbook: three numbers for the year, the months for rhythm, and the rows behind them when you need them.

5 min Numbers Business

Your workbook may look different. If there is no brown band of buttons along the top, use the Money Mastery menu in the menu bar above your workbook. The names are a little different there: Categorize is Categorize Transactions, Reports is Clarity AI & Reports, Dashboard is Open Dashboard, and Start Here is Getting Started.

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Read the transcript

Hi, and welcome. Today the one question every business owner asks: is it actually producing profit. The Profit and Loss tab in your business workbook answers it.

Open your business workbook from the hub, Your Money Mastery, and click the Prof.

Three numbers for the year at the top. Gross income. Gross expenses. What is left, your profit.

Below, the months. Income, expenses and profit for each, January to December. A month in the red is a month where expenses were higher than income.

The rows come from your account tabs, labelled in the business box. A row with a personal label is not here; it went to the personal workbook.

The adjustments column is for a true missing item only, something that never cam.

If a row is wrong, do not fix it here. Click the Categorize button, find the row, fix the label, and the report follows.

A good month is a number. A pattern that holds across the year is the business. Read the months for rhythm, not for one winner and one loser.

A business label typed in your personal workbook lands here by itself once the books are linked, so the Canva charge on the personal card is already in these numbers.

Three numbers, twelve months, and the rows behind them when you need them. See you in the next one.

Hi, and welcome. Today the one question every business owner asks: is it actually producing profit. The Profit and Loss tab in your business workbook answers it.

Step by step

Open your business workbook from the hub, Your Money Mastery, and click the Prof
Three numbers for the year at the top

Gross income. Gross expenses. What is left, your profit.
Below, the months

Income, expenses and profit for each, January to December. A month in the red is a month where expenses were higher than income.
The rows come from your account tabs, labelled in the business box

A row with a personal label is not here; it went to the personal workbook.
The adjustments column is for a true missing item only, something that never cam
If a row is wrong, do not fix it here

Click the Categorize button, find the row, fix the label, and the report follows.

The idea behind it

A good month is a number. A pattern that holds across the year is the business. Read the months for rhythm, not for one winner and one loser.

Worth knowing

A business label typed in your personal workbook lands here by itself once the books are linked, so the Canva charge on the personal card is already in these numbers.

Remember

Three numbers, twelve months, and the rows behind them when you need them. See you in the next one.

Up next, Chapter 4

Reports, and Ask Clarity