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Which reports can you find in Bokio?

15th Feb 2021
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Make managing your clients simple with our time-saving software.

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Reporting is a valuable tool to offer your clients. We take you through which reports are available in Bokio accounting software.

Profit and loss

The profit and loss report is one of the most useful tools for small business owners and sole traders. It’s easy to understand and gives insight into where their money is going. 

In Bokio, you can compare the profit and loss report for different periods. This is really helpful when analysing performance and finding anomalies.

Bokio’s reports are automatically generated from your accounting. These reports are easily accessible to clients, so encourage them to check in with the profit and loss report regularly. 

Balance sheet

The balance sheet report shows a detailed breakdown of your client’s assets, liabilities and equity goes, so clients may need more guidance from you to appreciate the full benefits of this report. Talk it through with them and explain how they use it by having a specific session.

Many business owners are concerned about cash flow. Using your expertise to interpret the balance sheet report in a way that gives relevant information to your clients by analysing how much they owe, and seeing how much they have in liquid assets to pay off their debt.

General ledger report

The general ledger report lets you see every journal entry recorded and the effect it has had each specific account. This is helpful to understand what has happened in a specific period, and identify any anomalies you should investigate or inform your clients of.

Trial balance report

The trial balance report lets you see a breakdown of all accounts in a debit and credit format for a particular period. It’s very useful as a starting point for doing the year end accounts. In Bokio, the trial balance report is available for download as an Excel file too, so you can dig deeper into the numbers.

VAT report

For your VAT registered clients it is important that you are able to prepare MTD compliant VAT Returns. Bokio supports Making Tax Digital and you can automatically generate VAT Returns from your accounting. There’s also a check report that is useful to present to HMRC should it be requested.

Invoice reports

If you share an accounting software that has invoicing features with your clients, you may have access to invoice reports too. Top customers, items and an overview of late payments offer a fantastic guide for business owners and sole traders. 

If they aren’t already aware of invoice reports then let them know! They can use it to see which items are selling, and if there are any loyal customers who could be rewarded. It’s also important to keep on top of invoices to avoid late payments using a tracking system.

Automated reporting

Using an accounting software like Bokio with automatically generated reports is a great way to save time.

If you share the accounting software with your clients, they will have access to automated reporting too. It’s important to make it clear what the reports mean and how they can be used, so clients can check in their own time and make the best decisions for their business. 

Beyond reporting

Of course, there is more to offering your clients a great service than sharing reports. Your insight and professional expertise are extremely valuable. Along with interpreting reports, you can offer advice on how to move forward with the results. 

Advisory services like where clients can invest, tax advice and highlighting any areas of concern goes beyond just sharing reports and helps your clients build a successful business.

About Bokio

Bokio is a cloud accounting software offering bookkeeping, invoicing and expenses management. It’s a great solution for collaborating with smaller clients, like small businesses, sole traders and freelancers. With automated reporting and automatically generated VAT Returns for Making Tax Digital, Bokio helps you save time on day-to-day tasks so you can focus on offering high value advisory services.