How to Download Your Financial Reports

Your financial reports show how your business is doing: what you earned, what you spent, and what your business owns and owes. Keeping your own copies is useful when you apply for a loan, share numbers with a lender or landlord, plan for taxes, or want a record of your year. This applies to both LLC and S Corp tier members.

Your reports are built from your bookkeeping and update as your Collective team categorizes and reconciles your transactions. They live in the Accounting tab of your Collective dashboard, not in Documents, and you can download them anytime.

Profit and Loss and Balance Sheet

The Profit and Loss statement (P&L) shows your income and expenses over a period of time. The Balance Sheet shows what your business owns and owes as of a specific date. These are the two reports lenders and tax preparers ask for most often.

1. Go to the Accounting tab in your Collective dashboard.
2. Select Reports, then All Reports, then Accounting Reports.
3. Choose Profit and Loss.
4. Set the date range at the top left to the period you need, such as the current year to date or a full prior year.
5. Select Download and choose XLS (a spreadsheet you can edit) or PDF (best for sharing). CSV isn't available for these reports.
6. Repeat these steps for your Balance Sheet.

Good to know: A month's numbers are final once our team has categorized and reconciled that month. If your date range includes the current month, those figures may still change. Your reports are bookkeeping records, not audited or reviewed financial statements, and each one includes a disclaimer noting that.

Business Income and Business Expenses

If you want a closer look at where your money came from or where it went, these reports break your income and expenses down in more detail.

1. Go to the Accounting tab and select Reports.
2. Under All, select Business Income or Business Expenses.
3. Set the date range to the period you need.
4. Select Download to save a copy.

General Ledger

The General Ledger is the complete record of every transaction in your books and the category it's assigned to. An accountant or lender may ask for it when they need to see the detail behind your P&L.

1. Go to the Accounting tab and select General Ledger.
2. Select any account in the pop-up to continue, such as Services Income. You'll switch to all accounts in a later step.
3. Select the Download button at the top right.
4. In the Download sidebar, set the date range you need.
5. Change the account dropdown to All accounts so the file includes every category.
6. Select Download Report.

Next steps

To keep copies of documents you've uploaded or that we've shared with you, such as bank statements or tax forms, head to Documents in your Collective dashboard, select the checkbox at the top of the list, and select Download selected documents.

If a report doesn't look the way you expect, reach out to your Collective team through your dashboard. They're here to help.

The information contained in this document is provided for informational purposes only and should not be construed as legal, financial, or tax advice.