It goes without saying that small and micro-businesses are the backbones of the Indian economy. However, most owners manage their businesses based on their instincts. No matter how passionate they are about their business, they often miss out on the big picture. Business reports can help bridge this gap by empowering them to make sound decisions.
Business reports provide useful insights on spends, profits, and growth. They also provide important details that can be used to help develop future forecasts, marketing plans, guide budget planning, and improve decision-making.
Different types of business reports that your small business needs:
- Transactional reports: These provide insights on daily transactions such as daybooks, sales reports, etc.
- Inventory reports: These offer detailed insights on inventory and help you plan item stocks better.
- Party reports: These give you an overview of all your receivables from your customers and payables from your vendors.
- Business finance reports: These provide a big picture view of all your business finances like cash flow, profit/loss, balance sheet, etc
- Expense/Income reports: These offer detailed insight on overall business expenses and income.
To sum up, no more relying on someone else’s advice. These business reports empower you to take better and informed decisions for your business.
Why small businesses struggle with reports
Getting all these reports in place can be quite challenging for most small businesses. Firstly, there is often more than one aspect of the business one has to look at in order to create one. Further, on the other hand, most big businesses and organizations have dedicated teams that put in hours to get these reports in place.
OpenBook brings 20+ business reports for your micro and small businesses
Understanding the need of micro and small businesses of India, OpenBook offers around close to 20+ reports for your business. The best part is that these reports are generated automatically by OpenBook. This way, you don’t need to worry about creating these reports manually. Use OpenBook to manage your billing, banking, accounting, and GST and you can get the following business reports instantly:
- Transactional reports
- Day Book
- Sales Report
- Purchase Report
- Orders & Challan
- Sales Order
- Purchase Order
- Delivery Challan
- Final reports
- Cash Flow
- Trial Balance
- Profit & Loss Report
- Balance Sheet
- Item/Stock reports
- Stock Summary
- Low Stock Summary
- Item Sales Summary
- Item Report by Party
- Rate List
- Party reports
- Party Report by Item
- Party wise outstanding
- Income & expense reports
- Income Transaction
- Expense Transaction
On top of this, it also offers GST reports like GST 1, GST 2 & GST 3B – all in one place. To sum up, isn’t this a better way to manage your business?