Understand the many types of accounting reports that are crucial to organizational financial management before diving in. All financial transactions are organized and summarized in the General Ledger, the foundation of business bookkeeping. This report categorizes assets, liabilities, equity, revenue, and expenses for audits, loan applications, and book balancing. Credits and debits increase or decrease money depending on the account type.
Let's explore the various types of reports that E-khata provide:
Variety of Reports in E-Khata
- The Profit & Loss statement, or income statement, shows a company's revenue, costs, and expenses. It helps with budgeting, expense changes, and profit analysis. It allows comparison of income, expenses, costs of goods sold, and net income.
- Another important report, the Balance Sheet, lists a company's assets, liabilities, and shareholders' equity to show liquidity. Investors and lenders use it to assess financial soundness.
- A company's Stock activity throughout a period is shown in the Stock Report. It helps in inventory management.
- The Batch and Barcode Reports shows how much stock is left in the warehouse, and what products have an expiry date to streamline the supply chain process.
- Businesses can track client debts with Accounts Receivable and Payable. Aging, which labels outstanding receivables by time period. Accounts Payable Aging helps planning and cash flow management by revealing anticipated payments.
Understanding these different accounting reports helps firms make informed financial decisions by providing a complete financial picture.
