There are also other types of reports you can use to monitor and manage your business, but these are the three main financial statements. They can help guide your business decisions and investors and lenders will likely want to review the statements before agreeing to lend you money. Your financial statements can be important for other reasons as well. For example, you'll want to include them in your business plan and the numbers from the statements can help you prepare your tax return.
Small business accounting software can create these financial statements for you. Alternatively, you can create your own financial statements based on your business records.