Skip to main content

Understanding Reports

MyBooks transforms your daily transaction data into meaningful financial insights. Access these from the Reports module.

Core Financial Reports​

  • Profit & Loss Statement (P&L): Shows your revenue minus expenses over a specific period. It tells you if your business is making money.
  • Balance Sheet: A snapshot of what you own (Assets), what you owe (Liabilities), and your business's net worth (Equity) at a specific point in time.
  • Cash Flow Statement: Tracks the movement of cash in and out of your business, categorized by Operating, Investing, and Financing activities.

GST Reports​

For businesses in India, MyBooks automates the generation of GST returns:

  • GSTR-1: Summary of outward supplies (Sales).
  • GSTR-2: Summary of inward supplies (Purchases).
  • GSTR-3B: Monthly self-declaration of summary totals for sales and ITC.

Other Useful Reports​

  • Account Transactions: A detailed list of all ledger entries for a specific account.
  • Stock Balance: Shows the current quantity and value of your inventory.
  • Contact Aging: Identify which customers owe you money (Receivables) and which vendors you need to pay (Payables), grouped by how long the debt has been outstanding.

Customizing Reports​

Most reports allow you to:

  • Filter by Date Range.
  • Filter by Contact or Account.
  • Export to PDF or Excel for further analysis.