There are several reports that we recommend you review at the end of each month. You can use these reports to identify and correct any discrepancies in your records, as well as spot any trends in your business.
Report | Description |
|---|---|
Accounts List [Summary] | Lists all accounts and their balances. Make sure you set the report filters to print account balances. |
Receivables Reconciliation Summary | Lists all your outstanding receivables. |
Payables Reconciliation Summary | Lists all your outstanding payables. |
Analyse Sales—Customer | Shows your company’s sales activity and trends on a month-by-month basis. |
Analyse Purchases—Supplier | Displays your company’s monthly purchases. |
Items List Summary | Shows a list of your items, including current selling price. |
Journal Security Audit | Reviews changes made to recorded transactions. |
Profit & Loss Statement | Displays your profit and loss figures. |
Balance Sheet | Displays your financial position as of the end of a month. |
Trial Balance | Use this report to identify incorrectly entered amounts. When reviewing this report, check for: entries that seem unusually large or small for the account that has been affected debit amounts for accounts that normally have credit entries, and vice versa unusually high or low ending balances an unusually high or low number of entries for a specific account. |
Balance Sheet [Multi-Period Budget] | Lists account balances as at the end of a selected month, along with the budgeted amounts for them. If changes need to be made to the amounts you’ve budgeted for the coming months, adjust your budget. |
Profit & Loss [Multi-Period Budget] | Lists profit and loss account balances for a selected period, along with the budgeted amounts for them. If changes need to be made to the amounts you’ve budgeted for the coming months, adjust your budget. |
Statement of Cash Flow | Shows how your cash position has changed over a period of time, what profit you have earned, where you received additional cash, and where your cash was spent. |
GST [Summary – Accrual] | Use this report if your accounting is done on an accrual basis. Displays a summary of GST charged, but not necessarily collected or paid. For a more detailed view, use the GST [Detail – Accrual] report. |
GST [Summary – Cash] | Use this report if your accounting is done on a cash basis. Displays a summary of GST collected and paid. For a more detailed view, use the GST [Detail – Cash] report. |