Review reports
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.
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.
Analyse Sales—Customer
—Shows your company’s sales activity and trends
on a month‐by‐month basis.
Items List Summary
—Shows a list of your items, including current selling price.
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.
GST [Summary – Accrual]
—Use this report if your accounting is done on an accrual basis.
Displays a summary of tax 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.
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