VAT Report

The Vat Report will calculate the figures to use on your VAT return.

To view an organisation's previous VAT Reports, navigate to the Reports tab, and then click the VAT Report link. All previous VAT reports that have been saved in AccountsPortal will be listed; you can view these in more detail by double clicking a row.

 

 

To create a new VAT report, perform the following steps:

• Ensure that the organisation's VAT status is correct.
• Click on the New VAT Report button.

 

 

• AccountsPortal will automatically enter the Start date and End date. If you have previously completed a VAT return, then the Start date of the new VAT return will be 1 day after the previous return, and the End date will take into account the VAT Reporting Frequency that you have specified in the organisation's VAT status. You can change these dates if needed. Note that you cannot set a Start date or End date to a date earlier than the Conversion Date.
• Click on the Refresh button.

The report will then calculate the appropriate figures. If you would like to view additional details and how each value is calculated, click the View Underlying Transactions button.

Click the Save button to complete the report and save it for future reference.

 

Validations will now prevent any changes to transactions saved in this report which may impact on the VAT reported. In order to make changes to these transactions you will need to delete the VAT report.

 

Important Note: You must ensure that there is no change in the organisation's VAT status (for example, from standard rate VAT to flat rate VAT, or from the cash to accrual accounting basis) during the VAT reporting period. Any change in VAT status MUST be effected at the start of a VAT period. See the section on Adding a VAT status for more information.

 

Note that EU related transactions are not currently supported in AccountsPortal.

Profit and Loss

The Profit and Loss report is an indication of an Organisation's financial performance over a period of time.

View the Profit and Loss report

To view the Profit and Loss report, navigate to the Reports tab, and then click the Profit and Loss link on the left hand side of the page.

Report parameters

• Start Date: Select any date.
• End Date: Select any date greater than the Start Date.
• Show Monthly: If this option is selected, then the report will display the information on a month-by-month basis. Note that data may be shown for partial months; for example, if the specified start date is 15-01-2009, then the Jan-2009 column will only reflect transactions with a date between (and including) 15-01-2009 and 31-01-2009. The same principle applies to the End Date. Some care should also be taken with choosing very large date ranges with the Show Monthly option selected, as you may have to scroll to the right to view all the information.

Once the parameters have been chosen, click the Refresh button.

The current report can be exported at any time by clicking the Export Button.

Notes

This report will automatically exclude all transactions (with the exception of Conversion Balance transactions) entered before the Conversion Date. Refer to the section on Converting from Another Accounting System for more information.

Balance Sheet

The Balance Sheet report is a summary or snapshot of an Organisation's financial position at a point in time.

View the Balance Sheet

To view the Balance Sheet report, navigate to the Reports tab, and then click the Balance Sheet link on the left hand side of the page.

Report parameters

• End Date:  The point in time at which the report will be run.

Once the parameters have been chosen, click the Refresh button.

The current report can be exported at any time by clicking the Export Button.

Notes

This report will automatically exclude all transactions (with the exception of Conversion Balance transactions) entered before the Conversion Date. Refer to the section on Converting from Another Accounting System for more information.

All reports in Accountsportal are created in real time and there is no need to process any end-of-year journals. This means that Retained Earnings will be automatically calculated for prior financial years, and the Profit and Loss reflected in the Balance Sheet will therefore always pertain to the current financial year only. Accordingly, it is critical that the correct financial year-end has been specified in the Organisations's settings.

Trial Balance

The Trial Balance report is a summary of all accounts for the Organisation at a point in time. Totals Debits should always equal Total Credits.

View the Trial Balance

To view the Trial Balance report, navigate to the Reports tab, and then click the Trial Balance link on the left hand side of the page.

Report parameters

• End Date:  The point in time at which the report will be run.

Once the parameters have been chosen, click the Refresh button.

The current report can be exported at any time by clicking the Export Button.

 

 

Notes

This report will automatically exclude all transactions (with the exception of Conversion Balance transactions) entered before the Conversion Date. Refer to the section on Converting from Another Accounting System for more information.

All reports in Accountsportal are created in real time and there is no need to process any end-of-year journals. This means that Retained Earnings will be automatically calculated for prior financial years, and the Profit and Loss reflected in the Trial Balance will therefore always pertain to the current financial year only. Accordingly, it is critical that the correct financial year-end has been specified in the Organisations's settings.

Period Balance

The Period Balance report reflects the movement in all accounts between two dates. The total Period Debits should always equal the total Period Credits, and the total Period Change should therefore always be equal to zero.

View the Period Balance report

To view the Period Balance report, navigate to the Reports tab, and then click the Period Balance link on the left hand side of the page.

Report parameters

• Start: The start date of the report.
• End:  The end date of the report.
• Find Matching: This is a real-time text filter to quickly refine the displayed information. For example, you could display only those accounts where part of the account name contains "current" or you could display only those accounts where the Account Type contains "expenses".

Once the parameters have been chosen, click the Refresh button.

 

 

The current report can be exported at any time by clicking the Export Button.

Notes

This report will automatically exclude all transactions (with the exception of Conversion Balance transactions) entered before the Conversion Date. Refer to the section on Converting from Another Accounting System for more information.

All reports in Accountsportal are created in real time and there is no need to process any end-of-year journals. This means that Retained Earnings will be automatically calculated for prior financial years, and the Profit and Loss reflected in the Period Balance report will therefore always pertain to the current financial year only. Accordingly, it is critical that the correct financial year-end has been specified in the Organisations's settings.

Transaction Line Items

The Transaction Line Item report reflects the detailed postings in all accounts between two dates.

View the Transaction Line Item report

To view the Transaction Line Item report, navigate to the Reports tab, and then click the Transaction Line Item link on the left hand side of the page.

Report parameters

• Start: The start date of the report.
• End:  The end date of the report.
• Filter by Customer/Supplier: Click this button and follow the instructions to filter by one or multiple customer/suppliers.
• Filter by Account: Click this button and follow the instructions to filter by one or multiple accounts.
• Show all fields: By default, this report only shows the most pertinent information for each line item. Selecting this option will displays all details for each line item. Note that due to the large number of fields, you may have to scroll to the right to view all the fields.

Once the parameters have been chosen, click the Refresh button.

The current report can be exported at any time by clicking the Export Button.

Notes

This report will automatically exclude all transactions (with the exception of Conversion Balance transactions) entered before the Conversion Date. Refer to the section on Converting from Another Accounting System for more information.

Retained Earnings calculated automatically for prior financial years are not displayed in this report. With regards to Retained Earnings, this report only displays actual transactions entered.

Aged Receivables

The Aged Receivables report is a summary of all outstanding Sales Invoices (and Credit Notes, where applicable) for the Organisation at a point in time. The information is displayed in specific aged brackets in each column.

View the Aged Receivables report

To view the Aged Receivables report, navigate to the Reports tab, and then click the Aged Receivables link on the left hand side of the page.

Report parameters

• Date:  The point in time at which the report will be run.
• Due Date / Transaction Date: Choose from the drop-down list to view the ageing by Transaction Date or Due Date. 

Once the parameters have been chosen, click the Refresh button.

 

 

The current report can be exported at any time by clicking the Export Button.

The overall total should agree to the balance of the Accounts Receivable account on the date specified. It is good practise to check this periodically against any one of the Balance Sheet, Trial Balance or Period Balance reports for the same date.

Summary vs Detail view

By default, the Aged Receivables report displays information on an aggregated basis; i.e. the ageing for each Customer is shown as a total. It is also possible, however, to display the information in more detail, so that the ageing for each invoice or credit note is shown individually - this is achieved by clicking the Display Detail button. You can revert back to the Summary view at any time by clicking the Display Summary button.

Aged Payables

The Aged Payables report is a summary of all outstanding Purchases (and Purchase Credit Notes, where applicable) for the Organisation at a point in time. The information is displayed in specific aged brackets in each column.

View the Aged Payables report

To view the Aged Payables report, navigate to the Reports tab, and then click the Aged Payables link on the left hand side of the page.

Report parameters

• Date:  The point in time at which the report will be run.
• Due Date / Transaction Date: Choose from the drop-down list to view the ageing by Transaction Date or Due Date.

Once the parameters have been chosen, click the Refresh button.

 

 

The current report can be exported at any time by clicking the Export Button.

The overall total should agree to the balance of the Accounts Payable account on the date specified. It is good practise to check this periodically against any one of the Balance Sheet, Trial Balance or Period Balance reports for the same date.

Summary vs Detail view

By default, the Aged Payables report displays information on an aggregated basis; i.e. the ageing for each Customer is shown as a total. It is also possible, however, to display the information in more detail, so that the ageing for each invoice or credit note is shown individually - this is achieved by clicking the Display Detail button. You can revert back to the Summary view at any time by clicking the Display Summary button.