All you need to do is make channels, there is a bunch that you can do by creating channels. You can do almost anything with channels, like do all ads for a site, or just one ad, one page, a few ads, sky is the limit.

But yes channels is what you are going to want to use.

Then your reports will say this channel made this much etc etc

Google has extensive help files and their own dedicated blog. Smart people who want to make money learn how a program works before they try and implement it.