Company and Financial reports

Items marked with a double asterisk (**) are available in Microsoft Office Accounting Professional 2008 only.

Company and Financial reports assist you in day-to-day management of accounts and provide an overall picture of the financial health of your company.

Report

Description

** Chart of Accounts

Contains a complete list of all the nominal accounts that have been created for your business and their balances.

Profit and Loss

Provides your company's financial results in detail for a specific period of time.

** Profit and Loss by Department

Displays your company's financial results in detail for a specific period of time. The report is available only if you select Use departments in the Preferences dialog box.

Balance Sheet

Displays your company's financial position in detail for a specific point in time. To make analysis easier, this report is grouped into categories, such as current assets, fixed assets, current liabilities and equity.

Cash Flow Statement

Shows the cash sources that have come into your business and how cash has been spent. Cash sources include cash sales, collection of customer accounts, bank loans and the sale of fixed assets. Cash use includes supplier account payments, employee wages paid, purchases of fixed assets and payments to owners.

Trial Balance

Lists all account balances from the Chart of Accounts List for a specific day.

Transaction Detail by Account

Provides detailed information about the entries posted to the Chart of Accounts List over a specific period of time.

GL Report

Provides detailed information about the debit and credit entries posted to the Chart of Accounts List over a specific period of time.

Audit Trail

Provides a detailed, chronological view of the entries posted to the Chart of Accounts List over a specific period of time.

** Change Log

Provides a complete list of changes to company lists and information in Microsoft Office Accounting 2008. The Change Log report contains current data if you selected Use change log in the Preferences dialog box. Users must belong to the Owner, Office Manager or Accountant role to view the Change Log report. This report is helpful for auditing purposes and can be used to trace fraudulent activity and other unknown adjustments or errors.

** Budget for Profit and Loss

Provides detailed information about actual and budgeted profit and loss amounts and variances in both pounds sterling and pence and percentages. You can compare the budgeted amounts to actual amounts over a selected time period.

** Budget for Profit and Loss by Department

Provides detailed information about actual and budgeted profit and loss amounts by department and variances in both pounds sterling and pence and percentages. You can compare the budgeted amounts to actual amounts over a selected time period.

VAT 100 Liability Report

Shows the VAT that your business has collected on sales, paid out on purchases, owes HM Customs & Excise or is owed by HM Customs & Excise for a particular VAT reporting period. This report contains current data only if you selected Track VAT in the Preferences dialog box.

VAT Summary by VAT Code

Lists all transactions related to VAT, arranged by VAT code. This report contains current data only if you selected Track VAT in the Preferences dialog box.

VAT Detail Report

Contains a detailed list of transactions that are included in a VAT return. This report contains current data only if you selected Track VAT in the Preferences dialog box.

** VAT Exception Report

Provides information about VAT that you owe for previous VAT reporting periods. If there are no outstanding transactions for a previous period, the report will be blank. If you view the report for the current period, it show the transactions that will be included in the VAT return for the current period. This report contains current data only if you selected Track VAT in the Preferences dialog box.

** EC Sales List

Contains detailed information about sales made to your customers in the EU countries.

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