The Money Owed to Business and Money Business Owes reports
Cashflow is king, as the old saying goes, so knowing who you owe money to and who owes money to you is critical to keeping cash in the bank. Our Money Owed reports allow you to do just that. Read on to find out how they work.
Money Owed to business report
This report provides a detailed view of all the amounts owed to your business, organised into three main sections: Outstanding client invoices, taxes, and other amounts.
Top line figure
The total amount owed to your business is displayed at the top of the report, giving you an immediate snapshot of what’s due.
Sections overview
Outstanding client invoices
Details displayed:
The invoice number.
The date the invoice was sent.
Partially paid invoices display their original total value and the outstanding amount.
The outstanding amount on the invoice in the invoice’s currency.
And the outstanding amount on the invoice in GBP.
If the invoice is overdue, a label displaying this status.
Invoice order: Invoices are ordered by their sent date, with the oldest appearing first.
Invoice links: Click on any invoice to view the full invoice.
Taxes
If you are owed any taxes, they will be listed here.
Click on the tax to view the bank transactions and other financial entries involved in calculating the figure.
Other Amounts
If there are any other amounts owed to the business, they will be listed here.
If directors withdraw funds from the business as a directors’ loan, it appears in the Directors loan category. When they create out-of-pocket expenses, these expenses offset against balances in the Directors loan category. Therefore, if this balance seems lower than expected, check if the Expenses entered by the director are the cause.
Click on the other amount owed to view the bank transactions and other financial entries involved in calculating the figure.
Money business owes report
This report provides a detailed view of all the amounts your business owes, organised into three main sections: Outstanding supplier invoices, taxes, and other amounts to pay.
Top line figure
At the top, you’ll see the total amount your business owes, providing a quick overview of what your business is due to pay.
Sections overview
Outstanding purchase invoices
Details displayed:
The purchase invoice reference.
The purchase invoice date.
Partially paid purchase invoices display their original total value and the outstanding amount.
The outstanding amount on the purchase invoice in the purchase invoice’s currency.
And the outstanding amount on the purchase invoice in GBP.
If the purchase invoice is overdue, a label displaying this status.
Purchase invoice order: Purchase invoices are ordered by date, with the oldest appearing first.
Purchase invoice links: Click on any purchase invoice to view more details.
Taxes
Corporation Tax:
Your estimated Corporation Tax Owed is displayed, which includes unpaid Corporation Tax from previous years and your current year estimate.
If you owe any other taxes, such as VAT, they will also be listed here.
Click on the tax to view the bank transactions and other financial entries involved in calculating the figure.
Other Amounts to Pay
If there are any other amounts the business owes, they will be listed here.
If directors loan personal funds to the business, it appears in the Directors loan category. When they create out-of-pocket expenses, these expenses also count as loans of personal funds to the business and appear in the Directors loan category. Therefore, if this balance seems higher than expected, check if the Expenses entered by the director are the cause.
Click on the other amount owed to view the bank transactions and other financial entries involved in calculating the figure.