11)Reporting: - With SAP software, you can draft your

Best Reports to Monitor Your Micro Small Business Australia Business Articles | June 3 Authentic Gardner Minshew Jersey , 2010

Financial reporting should be the main reason that you spend time on your small business bookkeeping! Not just because your Accountant demands it or to satisfy the Tax Office! If you are the owner of a micro small business Australia and you learn to Be Your Own Bookkeeper you will be able to review your financial reports with confidence and monitor your business' progress. You might even be able to improve your business bottom line!






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Below is a list of reports that you should monitor to track to your Micro Small Business:

Balance Sheet:?Lists all the Assets, Liabilities and Owners Equity

Profit & Loss Report:?Shows your Income & Expenses for a particular period and the resulting Profit or Loss

Aged Receivables:?A list of amounts owing to you by your Customers

Aged Payables:?A list of amounts that you owe to your Suppliers

GST Summary:?Shows your GST Liability at any point in time

Sales Summary Report:?Shows your Sales totals for a particular period

Why is it important to review your Balance Sheet?

Often Business Owners ignore this report and just concentrate on their Profit and Loss Report. The Balance Sheet holds crucial information as it shows all the Assets owned by your business, any Liabilities incurred by your business and the Owners Equity. The ratio between Assets and Liabilities is important. The total Assets should always be greater than the total Liabilities. Think of this report as a snapshot of your business at a particular date.

Any assets that you purchase or liabilities that you incur should be added to the this report.

For example if you purchase a new Motor Vehicle to use in your business it needs to be added to the Balance Sheet as an asset. If you take out a loan to pay for the Vehicle, the loan needs to be listed as a liability.

What is a GST Summary Report?

As a Micro Small Business owner you need to be aware that the money you receive as Goods & Services Tax does not belong to you Gardner Minshew II Jersey , you are just looking after it for the Tax Office!

You should check your GST Summary report each month to see what your GST liability is. Ideally you could then transfer this amount to a separate Bank Account (High Interest Account is good!)

Then when the time comes to pay your GST to the tax office you will not be struggling to find the cash!

Find out more at

With the introduction of SAP (Systems, Applications, and Products in data processing), there were an efficient and reliable means of data flow between the many aspects of any business. This helped the larger businesses to communicate with each other to keep things moving in the right direction.


No matter how big or small companies Ryquell Armstead Jersey , you can find the solution that best fits your business. The SAP ERP software is easy to implement, industry-specific, offers web or mobile based ERP solutions and also handles many processes at a time.


Among the countless advantages with SAP Software. A few benefits will be laid out in this blog post.


1)Improved Productivity: - The sap software ensures effective communication between different departments with up-to-date information. This Real-information helps the employees to do more work and fix customer queries faster. Thus, saves you time and increase productivity.


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5)Collaboration: - you can collaborate with different departments of your business, which is crucial for any business. With centralized and consistent ERP Data systems, all the departments can access the data effectively and move in the right direction.


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8)Significant Cost Savings: - With centralized Data SAP systems, you can save administrative and operations costs. It offers reduced delays and disruptions, proactively managed data, breakups data and helps the businessesusers to take decision more accurate and faster.


9)Streamlined Business Processes: - With the growth in the business Josh Allen Jersey , the operations become more complex. The ERP software automates most of the manual actions across all the departments and also provide unique, accurate and real-time information to every utilizer of the solution. Hence, thereby helping users navigate through complex processes easily, increases productivity and efficiency. It also prevents data re-entry and improved functions throughout the business cycle.


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