Task 3: 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.

Report	Description
Receivables Reconciliation	Lists all your outstanding receivables.
Payables Reconciliation	Lists all your outstanding payables.
Analyze Sales Customer	Lists your company’s sales activity and trends on a month-by-month basis.
Analyze Purchases Vendor	Lists your company’s monthly purchases.
Items List Summary	Shows what’s on hand and what needs to be ordered.
Audit Trail	Reviews changes made to recorded transactions, tax codes, account details, and system settings. Note that before you can track and report changes, you need to activate the audit trail tracking preference. For more information, see Audit trail tracking system.
Profit & Loss Statement	Shows your profit and loss figures.
Balance Sheet	Reviews your financial position as of the end of a period.
Summary Trial Balance	Identifies incorrectly entered amounts. When reviewing this report, check for: • entries that seem unusually high or low 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 Budget Analysis	Lists account balances as of the end of a selected period, along with the budgeted amounts for them. If you’ve determined that changes need to be made to the amounts you’ve budgeted for the coming months, you can adjust your budget.
Profit & Loss Budget Analysis	Lists account balances for a selected period, along with the budgeted amounts for them. If you’ve determined that changes need to be made to the amounts you’ve budgeted for the coming months, you can 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.
Cash Flow Worksheet	Enables you to estimate your short-term cash needs. For more information, see Analyzing your cash flow.

note : Create a report batch

You may find it useful to create a batch for your month-end reports and print them all in one go. For more information, see Printing report batches.

Related topics

■	Task 4: Send customer statements

■	Printing report batches