5 Zoho One Reports for Finance Insights

Par - Harish
28-04-2021 12:25:59

 The importance of financial reports cannot be overstated. It is absolutely critical to monitor the flow of cash to and from your company's accounts, stock levels, aging details, and more if you are stay on top of your business finances.

 

Here are 5 finance reports that Zoho One offers that help you gain insights into your company's finance for better business decisions. For obvious reasons, we will not be including the Profit and Loss report, and the Balance Sheet here.

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1. Receivables Aging Summary

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No organization is going to force their customers to pay on the date the invoice was shared. That said, having too many invoices in an outstanding status might seriously affect the company's financial health, as there will not be any revenue to run the business, or pay your vendors. The Receivables aging summary in Zoho Books gives you a quick idea of how many invoices are outstanding classified by different aging intervals (15 days, 30 days, 45 days, etc.) and the total each customer owes you. This way, you can quickly get the list of invoices that have been long overdue and take steps to get paid faster.

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2. Inventory Valuation Summary

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Knowing the volume, and value of their inventory is vital for all manufacturing and distribution firms. The inventory valuation summary report in Zoho Inventory helps you understand how much stock you have in hand of each item that your company sells/distributes, and the value of the stock in your inventory. This helps you evaluate the cost of goods sold on a periodical basis, and the potential profit you stand to gain from selling this stock.

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3. Business Performance Ratios

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The business performance ratios report in Zoho Books helps you analyze the financial structure and performance of your organization by comparing different aspects in finance. There are 8 different performance ratios reports to choose from, like the net profit ratio, the gross profit ratio, debt to equity ratio and more. Each of these reports comes with a dedicated dashboard so you can monitor your business' performance on a continuous basis.

 

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4. Budgets Vs Actuals

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Some call it targets, some call it budgets, but having a proper budget for both your income accounts, and expense accounts helps you understand 1) how your business is going to perform in the fiscal year, 2) how your business has performed at the end of the fiscal year. The Budgets vs Actuals report in Zoho Books gives you the difference between the target that was set, and the actual money that was spent/received (General income budget $100,000 vs General income gained $120,000).

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5. Expenses by Category

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As the name says, the Expenses by category report in Zoho Expense allows you to analyse how much expenditure your organization has incurred in each category (travel, internet, telephone, office supplies, etc.) over a period of time. By doing so, you can ensure you are not spending too much on anything in particular. For example, if Zoho Expense tells you that your employees have been spending in excess on reimbursable travel, you can create and enforce policies to ensure you cut down on those expenditures, therefore improving overall revenue.

 

There are plenty of reports in Zoho One that cover most aspects of finance from accounting, inventory, expense management, and more. Talk to one of our Zoho Experts to know how you can set this up for your organization

 

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