Profit And Loss Report

Just like you received a report card at the end of the school quarter, your business will receive its own report that shows how much money it made or lost during a certain period.

This is known as a profit and loss report (P&L) and is the most common financial report for businesses of all sizes.

Investors and bankers will want to review your P&L report before investing or lending funds. This makes it crucial to create accurate P&L statements that are GAAP compliant.

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*Zeni is a financial technology company and is not a bank. Banking services provided by Thread Bank, Member FDIC.

1. Your deposits qualify for up to $3,000,000 in FDIC insurance coverage when placed at program banks in the Thread Bank deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://thread.bank/sweep-disclosure/ and a list of program banks at https://thread.bank/program-banks/. Please contact customerservice@thread.bank with questions regarding the sweep program.
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2. The interest rates and annual percentage yield on your account are accurate as of 05/16/23 and are variable and subject to change based on the target range of the Federal Funds rate. APY will vary between .90%-3.73% depending on the balances held. Earn 0.90% APY on checking balances of less than $250,000, 1.81% APY on balances between $250,000 and $500,000, 2.72% APY on savings balances between $500,000 and $1,500,000, 3.65% APY on savings balances between $1,500,000 and $2,500,000 and 3.73% APY on savings balances of more than $2,500,000. There are no minimum balances or minimum deposits required to earn interest on your account.

3. The Zeni Business Credit Card is currently available to eligible Zeni customers by invite only. The Zeni Business Credit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.

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