There's no doubt that QuickBooks is a valuable tool for your business bookkeeping.  But there's much more available beyond bill paying and invoicing your customers.  QuickBooks offers extremely valuable information on how your business is performing.  However, correct initial setup and proper transaction recording are essential components to getting accurate results.  

KBAS analyses your data each month and then provides industry specific reporting packages to fit your business needs. Reports are provided in a timely manner so you can take prompt action on areas that may be affecting your bottom line.

Profit and Loss Previous Year Comparison – Also called an income statement.  Every KBAS client receives this report in their report package. Most business owners rely on the P&L report for showing money you earned (income) and money you spent (expenses) so you can see how profitable you are.  We go one step further and provide a comparison to your previous fiscal year.  This can provide quick insight into whether your revenue is growing or contracting as well as how fast expenses are rising.  It clearly shows any unusually high expense over the prior year that can then be analyzed. Data can also be reported using graphs, charts and diagrams for those that prefer those formats.

Profit and Loss Budget Vs Actual – This report will show actual revenue and expense information in the left column as it compares to budgeted revenue and expense in the next column.  The variances that exist between actual amounts and budgeted amounts are shown in the next two columns in both dollar and percentage variances. 

Balance Sheet - While the Profit and Loss shows you what you’ve earned, the Balance Sheet shows you what you have as well as what you owe. It lists what you own (assets), what your debts are (liabilities), and what you’ve invested in your company (equity).  Specific line items on this report are Cash, Accounts Receivable, Inventory, Accounts Payable and other liabilities such as lines of credit or short term loans.

Statement of Cash Flows - With this report you’ll be able to see how much cash you’ve taken in from sales and spent on expenses, and cash inflows or outflows from borrowing, repayment, or investing activities. In short, this report shows you exactly what caused your bank balance to increase or decrease during a given report period.

Accounts Receivable Aging – This report shows who owes money but has not yet paid it as of the report date.  The amounts shown are already included in the revenue section of the P&L but the cash is not reflected in the Balance Sheet cash section because it has not yet been received.  

Accounts Payable Aging – This report shows who you owe money to but has not been paid.  The amounts shown are already included in the expense section of the P&L but the cash disbursements are not reflected in the Balance Sheet cash section because it has not been paid.

Company Snapshot - Displays your income and expenses in year-over-year comparisons using pie charts and bar graphs.

Inventory Valuation Summary - Summarizes key information, such as quantity on hand, value, and average cost, for each inventory item.

Sales by Customer Summary - Shows total sales for each customer so you can see which ones generate the most revenue for you.

Sales by Product/Service Summary - Summarizes sales for each item on your Product/Service List. Includes quantity, amount, % of sales, and average price so you can see where you make your money.