Zoho Books is a cloud-based accounting software that delivers essential accounting and bookkeeping features. Handling business transactions, balancing charts of accounts and utilizing different payment options within Zoho Books can improve your organizational efficiency.
One of the critical advantages Zoho Books has over competitors is detailed reporting options that allow you to make timely and correct decisions in the future.
Automation is one of Zoho’s trademarks, and you can schedule automated reports to be sent periodically from Books. This article will go through various reporting options, from business overviews, sales and receivables to payments and inventory.
Business Overview Reports
The company goal in most cases is creating profit, and all reporting starts with a business overview. Zoho Books has four standard reports in this section.
Profit and Loss reporting
Zoho Books gives you an overview of your business’s profits and losses and a summary of operating and non-operating expenses. The report will provide you with detailed information about operating income, cost of goods sold, operating expenses, and non-operating incomes.
You can customize reports by various filters like date options, compare with (previous period), report basis, year to date or reporting tags.
Cash Flow Statement
The Cash Flow Statement is among the essential reports in accounting. The report presents all the money coming in and out of your business from operating, investing and financing activities.
The balance sheet is a standard business report with a summary of your balance on all accounts. This statement includes assets like current assets, cash, and other current assets. It also covers liabilities and equities.
Business Performance Ratio reports
When you want to evaluate the well-being of your business, you can compare different aspects and get in-depth insights into the company’s financial structure. There are eight unique business performance ratio reports within Zoho Books: Current ratio, gross profit ratio, debt ratio, acid test/quick ratio, receivable turnover ratio, debt to equity ratio and operating cost ratio.
Sales are the engine that pushes revenue forward, and managers often focus more on sales reports. In Zoho Books, sales have three reports. You can generate detailed reports on sales by customer, item or sales by the sales person. Each will give a unique perspective on the company’s performance and an excellent foundation for future moves.
Sales by Customer
In this report, you can check all invoices created for various customers in the company. You can filter customers in alphabetical order by name. Aside from the title, you can see the number of invoices and total sales with or without tax.
Sales by Item
If you want to know how well a specific product is doing, you can create a report of all items sold within the company, average prices, and the total amount received for products. The information also includes the name and the number of items sold.
Sales by Sales Person
Report measures sales rep’s performance by generating all invoices and credit notes users (salespersons or others) created in your company. You can filter invoices by users or by the salesperson. The same goes for a credit note. Helpful information on the report includes the total number of invoices/credit notes and sales figures.
Incoming money is essential to liquidity, and receivables reports are a valuable tool that helps you list all the money you receive from various sources.
Zoho Books has several receivables reports available:
- Customer balances– summary of all the money your clients are due based on the invoices and credits
- Aging summary– this report shows money customers owe depending on the invoice due date or date.
- Aging details– with this report, you can customize an aging summary report and generate a report for different customers based on numerous criteria
- Invoice details- a report has details of all invoices created for customers in the company. In addition, it has due dates and balances included.
- Retainer invoice details– the report shows retainer invoices you created, projects connected to retainers, and the total amount and unused retainers
- Sales order details– reports have all the sales orders created for clients and their amounts within the particular period.
- Estimate details– you can see all the estimates created for your customer, the accompanying invoice and the amount for a certain period.
Payments Received Reports
For all the payments your company or organization receives from customers, you can create Payments Received reports in Zoho Books. There are five different reports available in this reporting segment.
Managers in the company can examine the details of the payments your organization received from the customer. You can see all payments in the specific period under reports.
Time to Get Paid
If you would like to view payments within time intervals, you can create time to get paid reports. It shows the time intervals in which you get paid.
Credit Note Details
The credit note report shows all notes you’ve made for customers. In addition, you can see the value of credit notes and the amount used in invoices.
This report shows all the refunds you’ve noted against credit notes in the company or organization.
Knowing how assets and money go through the company would be incomplete without detailed inventory reports. You can have four different inventory reports in Zoho Books at your disposal.
The inventory summary report includes the item name, SKU, reorder level, quantity ordered, quantity in and out, stock on hand, committed stock and available for sale fields. In addition, you can see a summary of item movement to and from the company and the quantities.
Inventory Valuation Summary
The report summarises the value of all items in your stock. You can see opening and closing stock for items and how it changes due to sales and purchase transactions.
FIFO Cost Lot Tracking
First in, first out concept in a company means that the first item that comes in stock is sold. Then, you can create FIFO cost lot tracking within the Inventory section and follow the items through the product in and product out.
ABC classification report is a report that helps you categorize inventory. You can group items into three classes (A, B, and C) and sort the product based on their revenue in a specific period. For example, class A has items that generate the most revenue, B contains moderately selling items, while C has things that earn less revenue for your company.
You don’t have to manually create reports whenever you want to see the details about receivables, payments or sales. Instead, Zoho Books allows you to schedule a report on your preferences. You can create a weekly, monthly, quarterly or yearly basis. In addition, reports can be sent to your email or other users in your company.
Zoho Books has an in-depth reporting feature that can give insights into sales, receivables, profits and loss, cash flow, inventory and other essential information for your company’s performance. Getting timely reports with crucial insights can help in creating correct business decisions.