The intent of this manual is to explain best practice to complete the entries as fast as possible.
How to make the entries?
- Select the financial statement currency. This is used for the output for the maximum credit limit calculation, which is in Euros always.
- If you use the units wisely, it makes the entries much faster because you don’t need to type too much. With this the error rate goes down as well.
- Enter financial statement years. This can be two quarters or month’ as well. The most recent one comes first.
- Fill in all fields, if the value is zero enter zero.
- Balance Sheet:
- If you don’t know exactly where to enter a number, use common sense. Does it belong to current or non-current assets? Enter closest.
- Make sure that the intangible asset line is maintained correctly.
- Make sure that cash, accounts receivables and inventory totals are correct.
- Equity is important that the total matches.
- Ensure that bank debt is split into short-term debt (less than one year) and long-term debt.
- Pension Plan Reserves are considered non-current liabilities.
- Check if the Total Assets are the same as Total Equity and Liabilities.
- Profit & Loss Statement:
- Enter first depreciation/ amortization, Interest and similar expense, and Income tax
- Next step, enter net sales
- Enter all other fields with the focus that subtotals match (Operating Income, Net Profit After Tax, EBITDA, and EBIT).
- Customer environment: Select the answers from the drop-down list and be as accurate as possible. Use common sense.
How to get to the output result?
- Read the general terms and conditions thoroughly, you will be asked to except them, which is legally binding.
Output is in PDF format for downloading it to your computer. It includes the input, output, explanations, invoice, and general terms and conditions.