How much have you spent this month? Who do you owe money to?
Use the Purchases tab to get an oversight of money going out. From here you can:
- Track your purchases and costs to get an overview of trends
- Keep track of how much you owe your suppliers and your overdue purchases so you know who to pay first
- See your spending by category
- See who you buy from the most so you know who to ask for a discount
- See who your biggest creditors are to help decide who to pay first
- Check the amount of VAT that can be reclaimed on your purchase
While it's likely you'll want to create purchase invoices you don't need to create a purchase invoice for all money going out. For one-off purchases where you didn't receive an invoice, you can simply record a payment, see Record expenses and payments out.
Cash flow (statement and forecast)
You're going to want to get to grips with your cash flow because it provides one of the most important indicators of your business - how much cash there is.
You need cash to pay expenses, bank loans, and taxes, and to purchase new assets like stock and materials. The cash flow statement along with the cash flow forecast helps you determine whether you're able to do that.
Find out more about how to manage your cash flow in Sage Accounting.
Key reports
Besides the cash flow reports, Sage Accounting can help you look at many aspects of your financial performance.
Profit and Loss
The Profit and Loss report shows the performance of your business over a specified period of time. It shows the value for sales, direct expenses including cost of sales, and overheads in the given period. It also shows the resulting gross and net profit or loss. When running the report, you can drill down on the values to see what transactions are included.
See Introduction to the Profit and Loss to learn more.
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