5 useful reports for management

It’s really stressful and takes you much time to handle with financial accounting, isn’t it? With MYOB, everything becomes more simple and here, we introduce to you 5 reports having created to make it useful for the management. Some of them might be applied to other accounting packages as well.

Profit and Loss Statement summarizes the income, costs of sales and expenditure of your business each month. Some basic financial analysis such as gross profit margin, budgets and forecasts are implemented to identify and adjust spending patterns and to find ways to increase sales.

Accounts Receivable shows who owes your business money and plans an effective debt collection protocol. If you don’t keep on top of your debtors, you won’t be able to meet your liability obligations.

Accounts Payable on the other hand records who your business owes money to. This allows you to pay your bills on time, receive discounts, plan your cash flow and ensure that all your obligations are met.

Sales Analysis Report shows the trends that occur in a company's sales volume over time to analyze the sale effectiveness, its revenue, through which the company can determine the best course of action and identify market opportunities and areas where they could increase volume.

Inventory Analysis Report provides a flexible merchandise tool to analyze sales performance and inventory. It allows you to review and summarize detailed analysis or rank items based on the current information or on the performance during a particular reporting period.