Review monthly 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.

Lists all accounts and their balances.

Make sure you set the report filters to print account balances.

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.

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.

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.

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.