How to use the Accounts Payable Aging Report?
Dealing with overdue bills might seem like a nightmare. However, accounts payable aging report can save you from lots of issues associated with managing your payables.
Reporting
What is an Accounts Receivable Aging Report?
What is an Accounts Receivable Aging Report? If you want to efficiently manage your cash flow it is necessary to thoroughly keep track of your receivables. At What a Figure! Accounting we will review the following questions: What is an accounts receivable aging report and how does it work? How could you benefit from it? …
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What is the General Ledger Report?
What is a General Ledger? Reading and understanding the General Ledger report is an essential skill for each business owner. If you run a company, you need to know what the financial transactions are and how they are reflected in the books. At What a Figure! Accounting we will review the following questions: What is …
What is the Purpose of the Trial Balance?
What is the Purpose of the Trial Balance? If you are unsure what is the purpose of the trial balance, or wandering how it differs from the balance sheet, read on. At What a Figure! Accounting we will walk you through the following questions: What is a Trial Balance? How does it work? What is …
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What is the Statement of Owner’s Equity? (Full Guide with Examples)
What is the Statement of Owner’s Equity? The Full Guide with Examples! Statement of Owner’s Equity is one of the most important financial reports alongside the Balance Sheet and Profit and Loss. At What a Figure! Accounting we will cover all you need to know about this financial statement: What is the owner’s equity? How …
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How Cost of Goods Sold is Calculated
How cost of goods sold is calculated (+relation to inventory) If you’re new to Cost of Goods Sold (also called Cost of Sales) and inventory accounting or have been avoiding it because of all the jargon, at What a Figure! Accounting we will help you understand it. We will discuss all you need to know …
How to Prepare an Income Statement? The 8 basic steps (+free template!)
How to Prepare an Income Statement? The 8 basic steps (+FREE template!) The Income Statement (in some countries called Profit and Loss) is a crucial part of financial reporting. It could help you understanding both your business as well as personal finances. This article will help you with the following: How to calculate my profit? …
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How To Read A Balance Sheet? The 6 Most Important Steps.
How to Read a Balance Sheet? The 6 Most Important Steps. Do you know how much money you would have if you sold everything in your business and paid all your bills? Understanding the balance sheet is an essential skill for every business owner and it will give you answers to the above. At What …
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What Do Financial Statements Include? (8 Reports – Complete Set)
Whether you just became an E-commerce Seller recently or you are a veteran, understanding financial statements are essential for every business. What are the most important ones and what are the benefits of the others? How to read and understand them? Finally, why financial reporting is crucial for a successful business? At What a Figure! …
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VAT Return: File It From Xero Before the Deadline
Your VAT return includes the info on the EC supplies and purchases as well. However, if you have these amounts filled in Xero (boxes 8 and 9), you’ll need to submit them separately in the form of an EC Sales List as well. EC Sales List is a report that has to be sent …
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