How To Create Reports in FreshBooks

In this training, I’ll show you how to find two of the most important bookkeeping reports in FreshBooks. The Balance Sheet and the Profit & Loss report.

Balance Sheet Quick Instructions:

  1. Click the Reports link in the left-hand menu
  2. Click the Balance Sheet icon
  3. Click Reports in the upper left-hand corner of the Balance Sheet to return to the reports page

Profit & Loss Quick Instructions:

  1. Click the Reports link in the left-hand menu
  2. Click the Profit & Loss icon
    1. To send a copy of the P&L as a .csv: Click the green Send Button in the upper right corner
    2. Enter email address
    3. Write a personal message (if applicable)
    4. Click the Send Report button

Keep reading for full instructions with screenshots.

On the FreshBooks home screen’s left-hand menu you’ll find a Reports link.

Reports link in FreshBooks main menu

When you click the reports link you’ll be taken to the reports page. This page has all the various reports you’ll need.

Balance Sheet

Let’s start with the Balance Sheet which you’ll find in the Favorite Reports list at the top of the page.

Balance Sheet icon in the Favorite Reports section of the Reports page in FreshBooks.

The Balance Sheet report gives you an overview of your business’s finances. It shows your assets, liabilities, and equity.

FreshBooks Balance Sheet report

If you’re not sure how to read your balance sheet I encourage you to take the time to understand financial statements. Your local small business development center or your local SCORE office will often have classes explaining balance sheets and profit & loss reports.

Let’s go back to the Reports page by clicking the reports link in the upper left-hand corner.

FreshBooks return to reports link in Balance Sheet

Profit & Loss

Back in the Reports page let’s open the Profit & Loss report by clicking on its icon in the Favorite Reports list.

FreshBooks reports page Profit & Loss icon

The Profit & Loss (P&L) report summarizes the total income and expenses of your business. The report subtracts the expenses from the income of your business showing you your profit and giving you an overview of the financial health of your business.

The FreshBooks P&L report shows you month-to-month so you can see how you’re doing overtime.

FreshBooks Profit & Loss report month-to-month gross profit

At the top of the report is income.

Next is the expenses.

FreshBooks Profit & Loss report expenses

At the very bottom of the report is the net profit/loss.

FreshBooks Profit & Loss report net profit and loss.

You can send yourself (or your accountant) a copy of this report as a .csv file. To do this click the green send button in the upper right-hand corner.

You’ll enter the email address you want it sent to. The subject will be pre-filled and the file attached. You can also enter a personal message if you’d like and then click the green Send Report button.

Email yourself a csv copy of your Profit & Loss report in FreshBooks

I hope this helps you understand where to locate your reports within FreshBooks.

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If you’d like to watch me walk through this process check out the video below:

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This content is for information purposes only and should not be considered legal, accounting, or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Gentle Frog, LLC does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Gentle Frog, LLC does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them.

4 Responses

    1. Hi Dan,

      To get a Profit and Loss Report for a previous year you just need to change the date for the report to “Last Year”
      P&L Last Year date selection

      -Jess

  1. Is it possible to customize the P&L in fresh books? Specifically, I’d like to exclude expenses I have listed as “Personal” in my P&L. Thanks!

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