The Overview section contains Reports & Analysis for all Sales and Purchases
for your current financial year. You can view previous years by using the 'Year'
arrow buttons; clicking on 'Year' itself takes you back to the current financial
NOTE: You can drill down and get a breakdown by invoice by clicking on the
relevant figures for that month/category/payment.
Profit/Loss/Tax By Invoice
This is the accounting by invoice view and displays all sales and purchases
as calculated by the amounts actually invoiced for rather than the amounts
Sales Tax: instantAdmin will work out your
sales tax using the accounting by invoice method. Simply click on the 'ST Calc'
the left for an instant Sales Tax breakdown for that particular
Profit/Loss/Tax Cash Accounting
This is the cash accounting view and displays all sales and purchases as calculated
by the actual amounts paid/received rather than the amounts invoiced for.
Sales Tax: instantAdmin will work out your sales tax using the cash accounting
method. Simply click on the 'ST Calc' buttons on the left for an instant Sales
Tax breakdown for that particular month.
The cost analysis section breaks down all purchases and costs into different
categories making it easy to fill in your tax return at the end of your financial
year and also making it easy to budget for the future. Select the ‘Modify
Categories’ button to add to or modify these purchase categories.
This section lists all individual payments paid in and out as allocated to
each invoice. This makes it easy to reconcile your bank statements.
Note: If a payment received covers several different invoices then the amounts
listed here will be the separate amounts allocated to each invoice.
For example: If you had received a payment of $900 as payment for three
outstanding invoices of $300 each you would have found each invoice and
entered a $300 payment against each one. There would then be three payments
listed of $300 each in the 'Money Received' list in this section, they
would all share the same date making it easy to correlate with the $900
payment listed on your bank statement.
When checking these figures you can change each payment’s ‘Checked’ status
to ‘Yes’ (from the pop-up menu at the end of each payment line)
as you check each payment against your bank statements.