1. Entrepreneur

7 Applications of Profit and Loss Financial Statements for Business Health Analysis

Want to analyze the health of your business? Here are the recommendations for financial reporting applications to calculate your business profit and loss

Accounting bookkeeping in business it is very important to assist in the process of recording buying and selling transactions, balances, reading data, and all other business transactions, so that business performance can be seen which can later be evaluated in depth.

One of the important things that need to be analyzed in bookkeeping, namely the existence of financial reports profit and loss. This is to see the health of the business you are running. It is important to record details of income and expenses, so that your business financial data is visible.

Not a few business owners, especially MSMEs, still use a manual recording system using paper or books. This manual recording is prone to errors and fraud which can result in suboptimal financial management.

Nowadays, with the development of technology, you no longer need to worry. You can maximize the sophistication of this technology and use it to create financial statements practically, simply through the website or smartphone. Interestingly, each application offers its own features and advantages, but to be able to enjoy the full features you need to pay a subscription fee.

There are various kinds of features from accounting app, where the main features are bookkeeping, recording of sales and purchases, management inventory, invoice management, and business financial reports.

The following are recommendations for applications that can calculate your business's financial statements, especially income statements that you can access via websites and smartphones.

Financial Report Application

Paper.id

The first application that we will discuss, namely Paper.id provides an accounting report feature, in accounting reports there are 4 types of reports, namely financial balances, trial balances, profit and loss reports and general ledger reports. 

Profit and Loss Report can be accessed by all types of users, be it packages Free nor Paper+ (subscribe), from the website version or Android application Paper.id. The profit and loss report will present information to users regarding the company's finances regarding the profits or losses generated while operating within a certain time period (according to reporting), besides that the profit and loss report can be a tool for evaluating company performance.

Mekari

Financial report application Mekari Journals provide services in terms of recording transactions, managing budgets, tracking inventory, and analyzing financial performance better. Mekari journal provides profit and loss reports, balance sheets, cash flows, and more in the form of clear graphs and figures. 

Apart from providing profit and loss reports, Mekari also provides other features, namely invoicing, budget management, stock management, financial reports, cashlink, and many more. Mekari Jurnal is available on the Google Play Store, App Store, and any computer device as long as there is a browser and internet connection. You can trial for 7 days, then if you want to enjoy the full features you have to subscribe first. 

Clodeo

For you business owners courses this application may be suitable for you. Clodeo is an online store application which is intended to manage various business activities specifically for sellers online. Clodeo can manage orders from the time the goods are ordered by the customer until they are received, record purchases of goods, manage products, print shipping labels, check shipping costs and receipt numbers, and view income statements. online shop.

Clodeo can generate profit and loss reports automatically, recording according to transactions that you have made on the application to help create financial reports for business online You.

Cledo

Cledo is software accountancy online  with features that are suitable for all types and scales of business that can be used by businesses financial records practically. Basically, software Kledo accounting offers many features that can be used to carry out various financial recording activities, such as budgeting, unlimited users, automatic VAT calculations, profit and loss reports, and many more.

As cash flow statement, an income statement provides you with detailed information on income and expenses for your business. You can try using the Kledo accounting software for free for 14 days, after which you must subscribe to enjoy its features. Kledo provides template free profit and loss report that you can download HERE.

Book Keeper Accounting

An income statement application that you can try is Book Keeper from Just App Pvt, Ltd. This application is intended for small to medium business owners to make it easier to manage and create accurate financial reports more easily. Book Keeper supports taxation like GST, VAT and more. You can also send invoices, track expenses and receipts, manage inventory, create various financial reports, and much more. 

There are other features that are quite complete, where you can perform financial analysis in-depth information about your business with comprehensive reports. This feature can easily view income statements, balance sheets, cash flows, and more. This will help you analyze your business's financial performance in depth. You can download this application for free, but to enjoy the full features you must subscribe first.

QuickBooks

The next income statement application, namely QuickBooks from Intuit Inc. QuickBooks provides various financial reports that can help you monitor the financial health of your business. You can easily view income statements, balance sheets and cash flows, and customize reports according to your business needs. 

These Quickbooks are software accountancy online otherwise called 'cloud based software'. It allows users to create, save and send invoices from any device. Just login on the website and go straight to the account online your QuickBooks. Quickbooks can also be accessed through the Google Play Store, App Store, and any computer device as long as there is a browser and internet connection. you can trial free for 30 days, then subscribe if it feels right.

FreshBooks

FreshBooks provides various financial reports that help you analyze your business performance. you can see income statement, balance sheets, tax reports and more to make better decisions.

FreshBooks accounting software gives you instant access to manage your business finances. The way it works, you can register for a FreshBooks account, as well as add your business details. From dashboards FreshBooks, you can explore billing features, add billable clients, run accounting reports, find project management tools and more.

If you prefer to manage your business and handle your accounting from anywhere, you can download the FreshBooks mobile app via the Google Play Store, App Store, and any computer device as long as you have a browser and internet connection. You need to subscribe to be able to enjoy the full features.

Those are some applications that you can choose for calculating business income statements. There are applications and software accounting, business financial reports are able to process data in a short time and automatically, so companies can save time and make cost efficiencies that support business development.

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