Interpreting Management Reports

Posted By Former_Member over 7 years ago

Hello everyone. I don't have a background in bookkeeping, taking this up when I started my own business with my husband 5 years ago. Having become quite confident in working my way around Sage I'd like to now start producing management reports to help us make financial decisions about the business. I'm running off monthly reports like STCA, PTCA, TB, BA. Firstly are there any other reports that I would need for management reports and secondly, how do I even interpret them? What will they show me? (FYI most of our sales/purchases are tax free being fresh meat). TIA.

Paul Morgan over 7 years ago

Hi Nicola,

The main Management Reports we recommend that you run are the Balance sheet, Profit and loss and Trial balance. However, there are slightly different variations of each of these reports in Sage Accounts, which report on slightly different things.

Full info on the different Management Reports in Sage Accounts here.

As well as these reports, Sage Accounts also contains the Aged Debtors Analysis reports and the Aged Creditors Analysis reports. The Debtors and Creditors Control Accounts are two of the most important accounts on the nominal ledger, as they represent money owed to you by your customers and money owed by you to your suppliers. Therefore, most companies reconcile these accounts on a monthly or yearly basis.
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Former_Member over 7 years ago

Thank you Paul. We now have a credit controller in once a week who will run both the aged debtors and creditors reports. I'll start running the Balance Sheet and P&L too. Thanks.
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Paul Morgan over 7 years ago

You're welcome Nicola. If you have any further queries please feel free to give us a shout.
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