Institute of Certified Bookkeepers

Where did the Money Go?

The festive season has come and gone, and let’s hope everyone has had a chance to have a break and recharge the batteries. In the lead up to Christmas, it was reported that Australians were expected to spend $46.8 billion on gifts, and associated festive items, which is great news if you are a small retail business selling Christmas goodies. This may be not so good news though, if you are on the other end, and the credit card statement rolls in during January. You may just be wondering where all the money went?

More Than Just Budgeting and Forecasting

Calxa has long had a reputation of being the go-to solution for complex budgeting and forecasting requirements. But there is an array of other reports which will enable users to gain a further understanding of what has happened in the past and provide more clarity than just the standard Profit and Loss and Balance Sheet reports. The The Where Did Our Money Go? report is a logical companion to the Financial Statements, as it brings together components of the Profit & Loss and Balance Sheet in to one report. By displaying the Net Profit, as well as the movement of the Balance Sheet accounts over the nominated period, it can help explain the cash position of the business. This can be especially relevant if the business is taking drawings, or has a lot of loan repayments, as these amounts can be taken into account and summarised on the same report.

This may be an especially relevant report to run at the end of December, as there may have been a spurge of spending leading up to the Christmas period, and it may be interesting to see what percentage you, or your client contributed, to the $46.8 billion dollars that was expected to be spent.

Increase and Expand Reporting Criteria

Another example of where Calxa can provide some increased flexibility over standard accounting platform reporting, is where financial information is required over more than just one financial year. This can be especially beneficial for businesses that run projects across different or multiple financial years. Calxa reporting is not restricted by financial year dates, so, as long as the data has been uploaded from the accounting system then Calxa can report on it. It doesn’t get purged when the accounting system is purged. An example may be a five-year Profit & Loss Report, or a January to December Profit & Loss Report, which crosses over two different financial years.

Consolidations and Costs Centre Are Also Part Of The Deal

And for more complex businesses, reporting historical data across multiple organisations is also a breeze. Many of the reports in Calxa can be prepared across Multiple Organisations, for historical actuals reporting, and/or for budgeting and forecasting purposes. And, the organisations can even be from different accounting platforms, or with different currencies!

For those businesses that use Cost Centres, a range of reports can also be prepared for both historical and forecasting purposes.

Pretty It Up With Charts and Graphs and Deliver

Whilst it is good to prepare reports with lots of numbers on it for further analysis, sometimes a simple chart may be just as beneficial. The Accounts By Business Unit Chart enables a business to easily see which Cost Centres are contributing to the overall Income, Expenses, or Net Profit of an organisation, while the Account Breakdown Chart will give businesses an easy view of which income or expense lines are contributing to revenue or costs, within an organisation.

And all of these historical reports based on ‘Actuals’ can be bundled up and delivered with the click of a button.

So, as you can see, there are plenty of options for you to have a look at what actually did happen over that Christmas period. For some, it may be quite sobering. For others in the retail sector, it may be ‘Happy Days’. Either way, being able to easily decipher and understand the business financials is paramount, in any successful business

Further Information

Calxa has an active Partner Program consisting of bookkeepers and accounting professionals. With more than 150 partners in Australia and abroad, Calxa supports them with one-on-one mentoring to ensure that they have the confidence and tools to provide additional and relevant client services. If you would like to enquire about their Partner Program, contact Calxa at Check out the ICB Website for more information and to get the special ICB member discount on Calxa products.