Hi friend—Belinda here. Can we talk for a second?

If you’ve been losing sleep over whether your books are right—or dreading that email from your board or CPA—please know this: you’re not alone. Whether you're behind on your bookkeeping, worried that your numbers don’t tell the full truth, or feeling pressure because a grant application or loan deadline is creeping up, I see you.

Let’s fix that. Together.

The good news? You don’t have to be a numbers whiz or a QuickBooks expert to start getting clarity. You just need to know what to look for. So let me walk you through three simple reports that can give you answers—and peace of mind—fast. These are the same ones I use to help nonprofit leaders and small business owners clean up their books and get audit-ready.

Let’s take a deep breath... and dig in.

1. Profit and Loss Report – Your Financial GPS

Think of the Profit and Loss (P&L) Report as your financial GPS—it tells you where your money’s coming from, where it’s going, and whether you’re headed in the right direction. This report shows your income and expenses over a specific period (like a month, quarter, or year), and it’s one of the first places I look when someone says, “My numbers just don’t make sense.”

When you look at your P&L, ask yourself:

• Are we bringing in more than we’re spending?
• Which expenses are eating up our budget?
• Are there income streams that are underperforming?

You’d be surprised how many organizations don’t realize they’re operating at a loss—until they run this report. And if you’re applying for a grant or trying to qualify for a loan, this is one of the first documents they’ll ask for. It’s your chance to tell your financial story with confidence.

Warning signs to watch for:

• Flat or declining revenue while expenses climb
• Unusually high spending in non-mission-critical areas
• Negative net income—month after month

If you spot something off, don’t panic. That’s actually a good thing—it means you’re catching it before it spirals. With QuickBooks Online, you can customize your P&L to highlight the trends you care about most.

2. Balance Sheet – Your Financial Health Snapshot

Next up is your Balance Sheet. This one shows you what you own (assets), what you owe (liabilities), and what’s left over (equity). In plain terms: Are you building a strong financial foundation, or are the cracks starting to show?

I call this your “financial selfie” because it captures your financial health in real time. When you’re behind on your books, this is often the report that throws up the biggest red flags.

Take a moment and ask yourself:

• Do we have more debt than cash?
• Are our assets shrinking over time?
• Are there unpaid bills piling up in the background?

These are the questions lenders and funders will ask, too—so let’s get ahead of it.

Red flags to look for:

• Negative equity (yikes—you owe more than you own)
• High debt-to-asset ratio (hello, cash flow stress)
• Liabilities increasing month after month

Run this report alongside your P&L for the full picture. When those two reports agree, you’ll feel that shift—from uncertainty to control.

3. Bank Reconciliation Report – The Reality Check

Here’s where the rubber meets the road.

The Bank Reconciliation Report is your reality check. It tells you whether your books match your actual bank transactions. If they don’t? You could be missing income, duplicating expenses, or misreporting your cash position without even realizing it.

If you’ve ever looked at your bank balance and thought, “Wait, that can’t be right,” this report is your best friend.

Here’s why you need it:

• It catches missing or duplicated transactions
• It helps you detect errors before your accountant does
• It’s required to produce accurate financials for tax returns and audits

When reconciliation is off, it’s a red flag that your books need some love. QuickBooks Online makes this easier than ever, but you’ve got to stay consistent.

What to look out for:

• Transactions that haven’t cleared in months
• Differences between your bank balance and QuickBooks balance
• Deposits or checks that never posted

Reconcile monthly—no exceptions. Doing this regularly will save you hours (and maybe even dollars) when it’s time to apply for funding or file taxes.

So… How Often Should You Run These Reports?

Here’s the magic answer: every month. And no, that’s not too much.

Running these reports monthly helps you:

• Spot errors before they become emergencies
• Plan ahead for cash flow and tax time
• Provide clean reports to grantors, lenders, and board members
• Avoid that pit-in-your-stomach feeling when someone asks for “your latest financials”

If you’ve ever said, “I don’t have time to get caught up,” let me lovingly say: you don’t have time not to. Because what takes 15 minutes now could take 5 hours (and a whole lot of stress) later.

Final Thoughts: You Deserve Financial Peace

You don’t have to keep second-guessing your numbers. You don’t have to hope your books are right. You can know they are—and it starts with checking these three reports every month.

And if you’re behind, confused, or overwhelmed? That’s okay. Let’s start where you are.

I help small business owners and nonprofit leaders just like you get their books cleaned up, caught up, and audit-ready—without the jargon, the shame, or the spreadsheet headaches. If you’re ready for a second pair of eyes (or just a little bookkeeping therapy), I’m here for you.

Let’s make your finances make sense—and help you feel proud, powerful, and prepared the next time someone asks for a report.

You’ve got this!

Peace and Blessings,
Belinda Whitfield
Helping nonprofits and small businesses keep their books clean, tax-ready, and grant-ready—without losing their minds.