The Main Reports are:

  • Activity Report
  • End of Tax Year Report

Activity Report:
Those Users, who operate in a country where there is a Goods and Services Tax, like in Australia (in other countries this may be called a Value Added Tax, or VAT, or in Austria it is called Mehrwehrt Steuer) they may have to do a regular balancing with the Tax Department within the year. The time duration may vary. The user must be registered for this tax. Whenever the user makes a sale, it includes this tax collected from the customer. In Australia (at the date of this publication) this tax is 10%. Also the user pays this tax from those he or she obtains goods and services. Say for example I am your cleaning services provider, and I charge you $110 Dollars. At 10 percent, 10 Dollars would be this tax that I am charging you, which I have to pay to the tax department, however you can claim this back from the Tax Office. In Australia this tax is payable or refundable every 3 months, but there are exceptions. When you start creating this Report, you will be able to specify over what period of time you wish this report to be valid for. So you get maximum flexibility.

When you start this software for the first time, it will prompt you to set up your tax system. You then set up if this tax applies to you or not, if so what the value in percent is, what the name of this tax is, when the tax year starts and when it ends. You can set it up so that this Goods and Services Tax does not apply to you and it will automatically calculate and generate the necessary reports for you.

Click here to Read on the Activity Report.

End Of the Year Report
The End of the Year Report has nothing to do with your Goods and Services Tax. It is a tax that you would be paying anyway as you derived an income. This is your taxable income, which you would be paying irrespective of any Goods and Services Tax (or VAT, etc.). This Report summarizes you expenses and income and calculates your profit or loss. However it is not necessarily the final result, it may be used as a summary to prepare the final report, and this is due to the fact the tax laws can be complex. For example you may not necessarily write off certain expenses, but depreciate them over time, like expensive plant and equipment. The main purpose of this end of the Tax Year report is to provide the figures for the final end of the tax year accountancy work, which is then processed through your Tax Office.

Click here to read on the End Of Year Report

Other Reports
This software generates reports for every Table View in this Program. This includes Income and Expenses etc.

Other Reports
You can view the Stock Report. Click here to read about the Stock Report.

Future Reports
As we develop and update newer subversions, there will be more reports and they will include charts. You can send us an email if you have an idea of what type of report you think might be a good idea.