Once again, the development wizards have worked their magic (or, have worked hard to understand the needs of Debitoor users, researched the best way to implement a frequently requested feature, and spent time building and testing that feature to all users, depending on how you look at it).
In this case, as part of the ongoing improvements to our accounting and financial reports, there’s an exciting and fun new feature that gives you even more understanding of your business numbers and makes it easier to see exactly where your income and expenses are coming from - all from the profit & loss itself.
This update allows you to click on elements in the P&L to see exactly how each line breaks down - which costs have contributed to that particular category.
Profit & loss - understanding your business figures
WIthout a background in accounting, or even without a general appreciation or affinity for maths, the accounting side of running a business can be somewhat intimidating. And yet, it’s not something that you can avoid altogether.
Fortunately, online accounting and invoicing software like Debitoor makes creating important financial reports simple. For example, as long as you’ve been recording your income and expenses, you can view a profit & loss statement for a selected period in just a few clicks, allowing you to gain a better understanding of your incoming and outgoing cash flow.
With this new feature, we give you more than just the numbers. By clicking on an amount, you will see a pop up that gives you an itemised breakdown of that amount. This makes reading and understanding your numbers that much easier.
Diving deeper into the P&L
Not only can you select certain time periods, then view the details for the amounts on the P&L, you can also then go take a closer look at a given entry by clicking on it - you’ll be taken to the entry so you can make changes if necessary.
While it might not seem necessary to always be on top of your accounting, understanding your business numbers can make a difference in how you budget, what your future development plans may include and how you manage your cash.
Making it easier to not only stay on top of your finances but to get an in depth look and better understand the numbers behind your business.