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August 22, 2022
Question

I am giving out my P&L to for sale of business. Should I be putting confidential on this report?

  • August 22, 2022
  • 2 replies
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Original commenter did not share additional details

2 replies

August 22, 2022

Hello, stateline24.  

 

Yes, you can, as long as those confidential details are needed by the new owner on the said report.  

 

This also helps their daily work easy like, checking sales, expenses, or profitability by business segments. 

 

Check out these links to learn how to get the data that matters to the business:

 

 

Also, I'm adding this article to further guide them in managing the business's growth using QuickBooks Online (QBO): QuickBooks Help Articles. It includes video tutorials and topics about account management, banking, and expenses, to name a few. 

 

Please let me know if there's anything else I can do for you. I'll be standing by for your response. Have a great day!

Rainflurry
August 22, 2022

@stateline24 

 

Having sold a number of businesses, I STRONGLY suggest that you have your potential buyer sign a non-disclosure agreement (NDA).  Stamping your financial statements "confidential' is just a formality.  You need a document signed by any interested party that they agree not to disclose, make copies, contact your vendors, use the information to start their own business, etc.  Find a good NDA or contact an attorney to draft one.  It's money well spent.