Is a P&L the same as an Income Statement? If you've ever asked this question, you're not alone! While generally referring to the same financial report showing your business's performance, the different terms can be confusing. We'll unravel the terminology and explain any subtle differences you need to know.

Bookkeeping for dry cleaning and laundry services is essential to ensure that these businesses operate efficiently and profitably. Accurate financial management helps owners track expenses, monitor cash flow, and prepare for tax obligations, ultimately leading to informed decision-making and sustainable growth.