Financial Reports
Financial reports provide a comprehensive view of your business finances. Learn how to generate and understand financial reports in Tracksales.
1. Profit and Loss Statement
The P&L report shows your profitability:
- Revenue: Total sales and income
- Cost of Goods Sold: Direct costs
- Gross Profit: Revenue minus COGS
- Expenses: Operating expenses
- Net Profit: Final profit or loss
2. Balance Sheet
View your business financial position:
- Assets: What you own (cash, inventory, receivables)
- Liabilities: What you owe (payables, loans)
- Equity: Owner's equity
3. Cash Flow Report
Track money movement:
- Cash Inflows: Sales, payments received
- Cash Outflows: Expenses, bills paid
- Net Cash Flow: Inflow minus outflow
- Helps with cash flow planning
4. Accounts Receivable Report
Track money owed to you:
- All outstanding invoices
- Total amount due
- Aging analysis (current, 30 days, 60 days, 90+ days)
- Identify overdue accounts
5. Accounts Payable Report
Track money you owe:
- All outstanding bills
- Total amount due
- Due dates and aging
- Plan payment schedule
6. Tax Reports
Prepare for tax filing:
- Sales tax/VAT collected
- Tax-deductible expenses
- Tax summary by period
- Export for tax preparation
💡 Pro Tip
Review financial reports monthly to track your business health. Compare month-over-month and year-over-year to identify trends and make informed decisions.