Reading the reports: collection time and profit

Steps

1. 1

   Open the Reports page

   There are five tabs: collection, sales, stock, quotes and profit.

2. 2

   Choose the period

   This month, last 3 months, this year or a custom range. The range can be at most 5 years. The stock report always shows the last 90 days.

3. 3

   The Collection tab

   The “On average, how many days to collect” box gives the time from invoice to payment. The ageing chart shows how late the waiting receivables are, and the list shows the slowest-paying customers.

4. 4

   The Profit tab

   Sales, cost of goods sold and expenses sit side by side. Gross profit is sales minus cost, and net profit is that minus expenses.

5. 5

   Export it

   Use “Export to Excel (CSV)” or “Print” to take the report out as a file.