Reporting has always been an essential part of the Accounting process, with businesses required to carefully analyse their incomings and outgoings, determine their profitability and examine their financial position. However as is the case with any reporting, gathering the data in order to get the information required can be quite laborious without the right tools in place, especially if multiple reports need to be run at the end of the data gathering process.
Here at OrderWise, we take away this headache by supplying businesses using OrderWise with a comprehensive suite of different reporting tools, designed to offer them the quick access to easy-to-interpret information they need in order to make key business decisions with total confidence. As standard with every single OrderWise solution is 200+ reports for studying various aspects of business operations, including well over 20 reports dedicated for use in everyday accounting activities and obtaining in-depth financial analysis.
Now this month the OrderWise Reports & Layouts team have made reporting on Accounts even easier with Version 11.4 of OrderWise seeing two widely used reports receive major updates.
New Aged Debtors & Aged Creditors Reports
Managing Aged Balances is an integral part of the Accounting process, however each business will use different periods over which to calculate these figures from their respective creditors and debtors. With this in mind, last month we introduced new functionality into OrderWise Accounts that provides users with the flexibility to tailor this module to their own way of working by choosing how they wish to have aged balances calculated over different periods. You can read more about this and the other new Accounts features added last month HERE.
Coinciding with this new functionality, our Reports & Layouts team have now made major enhancements to the Aged Creditors and Aged Debtors Reports available with OrderWise. This extensive work has involved amalgamating the six previous reports that were available for obtaining an overall summary, current summary or balance descending for Aged Creditors and Aged Debtors into just two reports – now simply the Aged Debtors Report and the Aged Creditors Report. This allows OrderWise Accounts users to now obtain all the information they need relating to their Aged Debtors and Creditors from running a third of the number of reports. This not only massively streamlines the whole process of obtaining this vital information but also presents users with a clearer view by allowing them to have all the data they need in one neat report.
Your Accounts Reporting, The Way You Need It
Additionally to accommodate for the changes added last month to customise how aged balances are calculated over different periods, the Aged Debtors and Creditors Reports can now be run using any combination of ageing settings available within OrderWise. These balances can be based off the document date or due date and then aged into the system by custom set ageing periods or simply into calendar months.
Thanks to these great new enhancements, businesses using OrderWise Accounts can now benefit from faster, easier reporting on key company financials. With the dedicated Reports Wizard also available as standard and the Reports & Layouts Team always on hand should any custom reports be needed, OrderWise users can always be sure that their specific requirements are reached.
For more information on OrderWise including Business Reporting, download our brochure or watch our videos.
To discuss your requirements in more detail, contact us today on 01522 704083.
You can also contact our reports team by sending an email to firstname.lastname@example.org