The Summary

The Summary displays key information about your business. You can easily access the areas you need to enter your company details. You can view your sales, purchases, and detailed cash flow information.

Getting started

From Getting Started, you can access the areas of Accounting that you need to:

  • Enter your business information and default settings.
  • Set up your records – Before you enter your opening balances, you should set up your bank accounts, customer, and vendor records. If you sell or purchase the same products or services, you can create records for these items to save time when creating invoices and credit notes.
  • Enter your opening balances – This will allow you to accurately report your values.
  • Check your report values – To ensure your opening balances are correct, you should check your reports.

Sales

From Sales, you can see at a glance the value of the sales invoices, credit notes you’ve issued, and the net value of your sales.

By default, the chart shows the last 30 days. If necessary, you can edit this date range and you can also highlight a range on the chart. If you zoom in on a date range, to reset this, click refresh . You can change the sale information you want to show by selecting the relevant option from the bottom of the chart.

You can also view the following information:

Outstanding Sales Invoices This shows the percentage and total value of invoices due and overdue to date.
Overdue Sales Invoices This shows the date of any overdue invoices, the customer, and the amount. Click the invoice to view it. To view your invoice list, click more.
Quotes This shows the percentage and total value of sales quotes you’ve won, lost or are pending or have expired.
Top 5 Customers These are the customers who’ve purchased the highest value of items from you in the last 30 days. Click the customer’s name to view the record. To view your customer list, click more.

Expenses

From Expenses, you can view the value of vendor bills, credit notes you’ve recorded, and the net value of your expenses.

By default, the chart shows the last 30 days. You can change this date range and you can also highlight a range on the chart. If you zoom in on a date range, to reset this, click refresh . You can change the purchase information you want to show on the chart by selecting the relevant option from the bottom of the chart.

Outstanding Vendor Bills This shows the percentage and total value of expenses due and overdue to date.
Overdue Vendor Bills This shows the date of any overdue bills, the vendor, and the amount. Click the bill to view it. To view your invoice list, click more.
Breakdown by Ledger Account You can view which ledger accounts you’ve recorded expenses against in the last 30 days.
Top 5 Vendors The vendors you’ve purchased the highest value of items from in the last 30 days. Click the vendor’s name to view it or to view your vendor list, click more.

Cash flow statement

To help you keep track of money coming in and out of your business, you can view a cash flow statement. You can view this for a specified date range for individual bank accounts. The cash flow statement shows:

Opening Balance This is the net value of money in and out less any liability.
Cash Flow In This includes the total value of your:

  • Customer receipts

  • Vendor refunds

  • Other income

  • Bank transfers and deposits
Cash Flow Out This includes the total value of your:

  • Vendor payments

  • Customer refunds

  • Other expenses

  • Bank transfers
Closing Balance The total cash flow in less the total cash flow out.
Liability to offset If you have any tax liability for this period, it appears here.
Net Balance The closing balance less any tax liability for this period.

You can also print or save the cash flow statement. For more information, see Cash flow statement and forecast

Cash flow forecast

Use the Cash Flow Forecast to predict money coming in and out of your business. This shows the expected payments and receipts based on invoice due dates and any recurring income or expenses due in the specified period. It also shows expected refunds, calculated from the date credit notes are due to be refunded.

You can add manual adjustments to include values that might not already be accounted for. For example, you may want to apply for a loan, but first you want to see how your predicted cash flow will change if you add this value to your accounts. If you add a manual adjustment, this is only used for the cash flow forecast and the values are not added to your general ledger.

You can also print or save the cash flow forecast. For more information, please see Cash flow statement and forecast