Question

cynthia needs to share a financial snapshot of her company, including its current worth. which quickbooks report would be most useful?

Answer 1

QuickBooks balance sheet would be most useful to Cynthia.

What is a balance sheet account in QuickBooks?

You can simply run current balance sheet reports whenever you need them thanks to the way QuickBooks organizes your accounting data. For your accountant, print the required reports or save them as PDF files. A balance sheet report provides you with a financial overview of your business as of a particular date.

By deducting all of the money your firm owes (liabilities) from everything it has (assets), it determines how much your business is worth (your business's equity): Equity is equal to the difference between assets and liabilities. All of your transactions, both those you've reviewed and those you haven't, have an impact on your QuickBooks balance. While only the transactions recorded in the register are used to calculate the bank balance.

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