Overview:

Financial reports come in different formats that analyze a particular financial aspect of the business. The reports available in Invoice2go allow users to track their revenue, profits, losses, cash flow, etc. This information becomes important for business owners in assessing the success/failure of their businesses' specific aspects.

 

Invoice2go offers users 13 different reports, each of which can be exported as a .csv or .pdf from the web-app. 15 reports for UK customers.

• Sales by Date
• Sales by Client
• Sales by Items
• Sales Journal
• Payments by Date
• Payments by Client
• Payments by Type
• Payments Journal
• Expenses by Category
• Expense Journal
• Customer Aging
• Profit Loss
• Taxes
• Sales (Making Tax Digital compatible) (UK ONLY)
• Expense (Making Tax Digital compatible) (UK ONLY)

Reports Dashboard

The Reports Dashboard can be accessed through the sidebar of the app and will show,

1. Total outstanding balance (sorted by a customer with the most owed) displays any customers with due invoices and has not been paid.
2. Current tax year sales  (sorted by month or quarter) display the total amount invoiced during the time period. 
3. Annual sales by the client and includes a bar graph visual.

Reports list

Sales by Date:

This shows the Sub Total, Tax, Total, Amount Paid, Amount Owed, and # by month, quarter, or annually for any given year where an invoice was created. 

Sales by Client

This shows the Sub Total, Tax, Total, Amount Paid, Amount Owed, and # for each customer during any month, quarter, tax year, or custom time period.

Sales by Items

This summarizes the transactions for each product the business sells during any month, quarter, tax year, or custom time period. The report totals the number of sales; the quantity sold, the average rate, tax, and the number of invoices associated with the item.

Sales Journal

This is a list of every sale made by the business for the current year. Similar to the “Sales by” reports, it lists the sale amount, paid, owed, and tax for every invoice during any month, quarter, tax year, or custom time period.

Payments by Date

This report gives a total of payments per unit of time. It lists Sub Total, Tax, Total, Amount Paid, Amount Owed, and #. Years can be drilled down to Months; Months can be drilled down to view by day. Allow for granular reporting.

Payments by Client

This shows the total amount paid sorted by the customer and the taxes associated with the sales, and the invoices linked to the payments. Clicking on the customer’s name will show a list of each invoice with the date paid, date invoiced, invoice #, name of customer, payment amount, tax, payment type, and comments.

Payments by Type
 

This shows a list of payments sorted by payment type along with the amount paid, tax, and the number of invoices associated with the sales for the payment type. Users would use this report to check the amount they have accepted both through and outside Invoic2go. 

Payments Journal

This reports every payment made by customers for the current year. Similar to the “Payment by” reports, it lists the payment amount, tax, and type of payment for every invoice.

Expenses by Category

This is a list of expenses incurred by the business for the current year and sorted by category. The information shown along with each category's total amount is the amount of taxes, tips, and receipts included with each category. The expenses are captured when users add Expenses via the app.

Expense Journal

This lists all expenses incurred by the business for the current year by line item. It includes all information from expenses entered in the Expenses section of the application (e.g., date, category, vendor, description, tax, tip, and total.)

Customer Aging

This report lists all the customers who have unpaid invoices or partially paid and the total they need to pay. The report organizes their balances according to how many days their invoices are past-due.

Profit Loss

Summarizes the revenues and expenses incurred by the business for the current year. It shows how much profit/loss the company is taking in.

Taxes
 

This report will identify a user’s pre-tax sales, post-tax sales, as well as a breakdown of the various taxes applied on invoices along with the associated tax rates. This helps indicate how taxes are affecting a business’s sales over a given amount of time.

MTD Reports (UK Customers Only) 
 

In compliance with a new UK law requiring VAT-registered businesses with a taxable turnover above £85,000 to keep digital financial records and send returns using MTD-compatible software, we’ve added two new reports for our UK customers. They are

• Sales (Making Tax Digital compatible)
• Expense (Making Tax Digital compatible)

If a user says they cannot find this report, please let them know to make sure their country is set to the United Kingdom within the app's company information section.