Accounting

The accounting page provides details very similar to a bank statement. It shows incoming payments (sales or additional payments which you specify) and outgoing costs (purchasing or additional payments which you specify). From those, together with stock levels it can work out the information shown in the top left of the screen shown here. The balance is the sum of incoming payments and outgoing costs, excluding outstanding sales payments (for example where an invoice has been sent but not yet paid). Sales turnover is teh sum of all sales. Outstanding sales are those sales orders which have not been confirmed as paid, for example through invoices or credit cards. Profit is the sum of the balance and outstanding sales. Stock value is based on a factor which you specify, because you might consider stock in hand as less value than its retail price until it is actually sold. This might be because of warehousing costs, or simply because you prefer to consider the worst case where you would close down your business and sell remaining stock at a knock down price. Although not shown here, accounting can also be done over a fixed period, for example your financial year.

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