Cashbook Report Examples

Article ID: 2024744          Last updated: 19 November 2010


Cashbook Summary

A consolidation of entries code by code for receipts and payments in the period selected. This report only lists codes for which data has been entered in the period. It is set out to give a clear indication of what has been received and what has been paid out, sub grouped according to the header (00) codes which the user has set up.

This report clearly shows the way in which codes determine the level of detail available from cashbook. For instance, if you simply set up a single code for sales this is the only line which would appear in the receipts section of the Cashbook report. However, looking at the Fennel Herbs example business, sales are posted against a number of receipt codes relevant to the goods or services provided. Which means it's always possible to 'drill down' to the underlying data by double clicking on the data entry you are interested in.

Some useful information can be obtained from the report. Not only will it give the basic income and outgoing information by receipt code, payment code and sub group, but through the facility to produce reports for any period of months, comparative data can be easily produced month on month, quarter on quarter and year on year to see how different areas of the business are performing.

Cashflow Summary

This report allows you to see in a more succinct form, where income and expenditure has come from in the business, separating that which has been generated by trading, (the buying and selling of goods and services), from that which has been derived from other business activities ( business loans, sales of assets etc.).

By breaking out the VAT, this report shows clearly whether VAT is receivable or payable for the period. It also shows the net change to the overall cash position of the business.

Bank Reconciliation

This is the fundamental way by which it's possible to check whether your bank's record of events tallies with your records. It is absolutely essential to ensure that you reconcile your records whenever they receive a bank statement and as a precursor to running the VAT return. This allows you to keep a close eye on your entries to check that the Cashbook matches your bank statement helps to avoid erroneous entries.

VAT Account

The nine boxes shown on this report allow you to complete the HMRC VAT return form. The figures on this report are derived from the Payment and Receipt codes within Cashbook. You should check to ensure that the right codes are being used in the VAT report. You can check whether payment or receipt codes have VAT applied to them by going into Setup> Receipt / Payment Codes. The VAT tick-box on this screen will need to be ticked in order for the codes that you are using to apply to the VAT report.


Disclaimer: This information is of a generic nature. For specific advice regarding your particular circumstances please seek assistance from your Accountant, the Inland Revenue Office or your IT Consultant as appropriate.