The Easy Reports module consolidates information from other modules of Easy Business App:
- Payslip data (wages, super, tax) from Easy Payslip
- Invoice data (including payments and outstanding debts) from Easy Invoicing
- Expense and Income items from Easy Expense & Income
Existing users of these modules at the time of the introduction of Easy Reports may need to make some very small changes to the way they categorise data. Please refer to the article Easy Reports - Changes for Existing Users.
To learn more about the Dashboard view of Easy Reports, refer to the article Easy Reports Reporting Dashboard Overview.
Reports Available in Easy Reports
There are a number of different reports available - all designed to give you clear visibility into your business. Of most interest are the Consolidated Reports which exist only within Easy Reports.
Reports from other modules (Easy Pasyslip, Easy Invoicing and Easy Expense & Income) are also available from within Easy Reports for convenience - the reports are the same as those found directly in each module.
One of the best features in Easy Reports is the ability to drill down from one report, into a more detailed report, and from there directly to the source document (i.e. a payslip, invoice, or expense/income item). This functionality is incredibly handy for understanding what is going on in your business, and for spotting anything that may be missing (e.g. a missing invoice payment, or a missed employee payslip).
Profit & Loss Reports
Shows all business income and expenses at the time they are incurred, which is not necessarily the time they are actually paid. This is the best way to see how profitable your business actually is (but not how healthy your cash position is!)
When you have payslip in January, a Profit & Loss report will show in January all the costs associated with that payslip: The net pay that you pay your staff, the tax that you will need to pay the ATO, and the super that you need to put into your staff super funds. Note that even though you might not pay the tax to the ATO for 2 months, and you might not put super into your staff super accounts for 3 months, it is all included in the profit and loss report. As its showing all the costs associated with the payslip. IE it gives you an idea of your actual costs, not just the ones you’ve actually paid for at that time.
- The Accrual P&L Report records income from invoices when they are created. The income is recorded on the invoice document date, regardless of when (or if) it has been paid by the customer. The purpose of this approach is so that you can report the income you receive in the same period that you provide the goods or services to your customer. I.e. you spent the effort serving your customer this month, so you show the income from that effort recorded this month, the same time you paid your expenses (eg staff wages) to provide those services.
- The Cash basis P&L Report records income from invoices when they are paid. So the income is reported on the date of payment, instead of the invoice document date.
Show the money going out of your business, and coming in to your business.
For a payslip in January, the Cashflow Report will only show the net wages, as it assumes you paid those net wages to your employee in January (based on the payslip payment date). It will show the Super and Tax only when you record expense items in Easy Expense & Income to indicate that you’ve paid them. This is why we have Expense Categories for "Super Paid", and "ATO Payments".
Allows you to see all your BAS figures in one simple place. It contains the exact figures (labeled G1, 1A, 1B, W1 and W2) that you need to enter in your quarterly (or monthly) BAS lodgement.
By utilising all of Easy Business App's modules to keep track of your invoices, income, expenses and wages, getting the numbers for your BAS report is as simple as selecting the appropriate date period and entering the values into the ATO online form.
Many small businesses report their BAS lodgements on a cash basis (i.e. based on the actual money received into the business) rather than on an accrual basis (based on the amount invoiced, but not necessarily paid). Talk to your accountant or bookkeeper to double-check your reporting method if you're not sure. Both Accrual and Cash BAS reports are available in Easy Reports to cater for this.
Category Detail Report
Shows a view of all the items against a selected category. This report is useful for drilling down into the document-level detail and really understanding where certain numbers may be coming from. Clicking on any row will drill down to the document (payslip, invoice, expense, income) that the figure relates to.
Categories in Easy Expense & Income and How They Show in Easy Reports
Easy Reports takes data from various sources - Easy Payslip, Easy Invoicing and Easy Expense & Income. Some categories are automatically handled in Easy Reports, but for others, you will need to add some manual entries into Easy Expense & Income - most notably you will need to add Expense items when you make payments to the ATO ("ATO Payments") and when you pay Super to your employees ("Super Paid").
|Category||Shown in Profit & Loss Reports?||Show in Cashflow Report?|
|Salary Wages Manual Entry||Yes - any manual expenses you’ve entered||Yes - any manual expenses you’ve entered|
|Wages - Easy Payslip||Yes - the net wages from your payslips, i.e. the amount you actually transferred to your staff.||Yes - The gross wages from your payslips, including PAYG tax.|
|Super - Easy Payslip||Yes - the Super from your payslips.||No - it's not possible for EBA to know when you paid this super (unless you enter it manually, see the row below!)|
|Super Paid - Easy Payslip Related||No - The super from your payslips is already included in the row above.||Yes - any manual expenses you’ve entered to indicate when you’ve paid super.|