Managing finances well is one of the keys to the success of your business. How you record daily expenses and financial income and manage accounts payable can drive the success of your business. Journal of daily transactions that you record will produce a report at the end of the period. Recording must be done correctly and regularly, no transaction should be missed. Because it will affect the financial statements and the physical itself. From that report you can measure the results you get. In today's modern era, you can use the Online Financial Records Application to help you record your daily life. Conventional financial records are now outdated and less effective. You have to write it manually and to get the results in the form of a report, you have to calculate them one by one. Meanwhile, if you use an Online Financial Recording Application such as KASVLO, you will easily manage your daily transactions. You only need to input data from each transaction, the report will be automatically compiled on the spot.
For more details, let's read the article below.
Journal of Income and Outcome
Incoming Journal is a journal that contains incoming cash transactions that you receive. Examples such as investment money or initial capital, additional capital, sales proceeds, income results, and interest receipts.
While the Expenditure Journal is a journal that contains outgoing cash transactions. For example, paying for operating expenses such as electricity and rent, purchasing raw materials, paying employee salaries, purchasing assets, and others.
The types of income and expenditure transactions in each business will be different depending on what business you are in. You will create categories for each transaction, especially routine transactions such as income from the sale of goods/services and payment of operating expenses. Ada will easily review and exercise control over your business expenses.
Debts and Receivables
Debt is a sum of money or can be in the form of goods borrowed by one person to another that must be paid within a certain period of time. Debt can also occur for the purchase of goods on a tempo that is not paid immediately, but will be paid at a later date. Or in other words debt is an obligation that we must pay to others. While receivables are obligations that other people have to pay to us. For example, we sell goods to person A, that person will only pay for the goods after a few days, that's what we record as receivables and record debt in person A. Receivables should not be left for too long, if they are due, we need to collect the receivables. Now you can easily make billing to customers or other people. The invoicing menu on Kasvlo has an automatic billing feature. The billing feature can directly do the billing via WhatsApp.
Report
Financial Statements are financial information in a period. From the report we can see the financial condition of our business in that period. With KASVLO, financial reports will automatically appear. Reports that appear on the dashboard are usually in the form of statistical graphs. You can also export the report data into excel and PDF formats.
