Financial Reports Overview
Updated: Nov 24th, 2011 | | Categories: Reports
Our Financial Reports feature can be a very useful tool, especially if you work closely with your bookkeeper/accountant (we actually recommend supplying them with their own user account but that’s completely up to you). The Financial Reports area provides you with a complete overview of all your finances in real-time, which can optionally be broken down by inventory category, and/or filtered by a specific date range (aka period). Below is a list of definitions for all the terms used on this page:
- Account Receivable: The total amount of revenue that was invoiced during this period. It’s essentially the Net Revenue combined with the total amount of taxes you collected.
- Net Revenue: The total revenue invoiced during this period, excluding any taxes collected.
- Total Taxes Collected: Total of all taxes included in your invoices during this period.
- Inventory Sales: The total amount of revenue only related to inventory sales for this period (excluding taxes).
- Services: The total amount of revenue only related to services sales for this period (excluding taxes).
- Services Profit / Loss: The total amount of services revenue (excluding taxes) minus the cost of providing it.
- Inventory Cost: The total value of all the unsold inventory, based on their purchased prices, as of the last date in your date range.
- All Additional Expenses: The total value of all the additional expenses you added to your inventory, as of the last date in your date range.
- Total Inventory Valuation: The total inventory cost combined with the total of your additional expenses (the sum of the two mentioned above).
- Newly Purchased Inventory: The total value of newly purchased inventory, based on their purchased prices, for this period.
Inventory Profit Analysis
- Inventory Sales: Total revenue of all inventory sales for the selected category (excluding tax).
- Sold Inventory Cost: The total cost of all inventory sold, based on purchased prices, for the selected category.
- Sold Additional Expenses: The total cost of all additional expenses associated with the selected sold inventory.
- Profit / Loss: The total inventory sales minus their purchased prices, minus the additional expenses.