Profit and Loss Statements and Financial Reports
The Value of Financial Reporting Services
Financial reporting, like generating profit and loss statements, is vital to every business. It provides important information about the current financial position, assists with forecasting, and informs decisions around budgeting, marketing, and inventory. Financial statements also highlight areas of the business that are working well and the areas that need attention.
Reports and statements are designed with three goals in mind: to present the most fundamental financial information, analyse the strengths, weaknesses, and trends of those numbers, and as a result, identify any future course of action.
Exact BAS and Bookkeeping Are Reporting Gurus
At Exact BAS and Bookkeeping, we have several options when it comes to running reports and preparing financial statements. Our financial reporting services provide the simplicity of standard reports, edit a report to focus on a certain component or fully customise your reports to accommodate specific needs.
Exact BAS and Bookkeeping identify pain points you didn’t even know you had. Outsource financial reporting services to simplify the following areas:
Profit and Loss Statements (also known as Income Statements):
Profit and Loss statements are key as they indicate the projected amount of profit or loss a business can expect during a trading period. Measures such as sales, expenses, margins, liabilities, and equity are easily identified and interpreted.
Balance Sheets:
A balance sheet is a financial statement of a company's assets or liabilities. This is generally prepared at the end of the financial year.
Cash Flow Statement:
A cash flow statement tracks all the money flowing in and out of your business. It can sometimes include a forecast of future sales and expenses. It must be prepared at the end of the financial year.
Accounts Receivables Due and Aged Debtors Report:
Aged Debt reports indicate how much money a business is currently owed from invoices that have already been issued to customers, yet remain unpaid. Broken down into categories such as individual client balances and total number of days outstanding, this report indicates how old the debt is for each customer.
Accounts Payables Due and Aged Creditors Report:
Aged Creditors report is a total list of all the bills that you haven't paid yet. Broken down into categories by supplier and by date, this is a report of unpaid bills and bill credit notes that are due.
Preparation and Lodgement of Taxable Payments Annual Report (TPAR):
Certain businesses need to report payments made to contractors for services rendered. Rest assured we are also well versed in preparing and lodging a Taxable Payments Annual Report (TPAR.)
Why Choose Exact BAS and Bookkeeping
You got into business to focus on your strengths and passions; we did exactly the same thing. What you consider mind-numbing… we consider number nirvana! We genuinely thrive on keeping your reports up-to-date and presenting statements that give you a clear picture of where your business is and where it’s going. Along with profit and loss statements, we can reconcile and maintain accounts.
If you are facing a mountain of reports, outsource financial reporting services and we can resolve this for you. Our goal is to take over financial reporting services, so you can get back to the business of your business.
Exact BAS & Bookkeeping are committed to:
The Personal Touch - we cater to your circumstances
Attention To Detail - perfection is the expectation
Cost Effective - ask about our options for small businesses, startups, and tradies
Certified Experts - we are registered BAS Agents with the Tax Practitioners Board
Cloud-Based Bookkeeping - Xero Advisor, payroll services, also MYOB Bookkeeping
Complaint - in all the latest rules and regulations
Time Management - never met a deadline we didn’t like
Efficient - expect easy, effective, and expert service
Dedicated - we have your business’s best interests at heart
