Because you may have entered only a few transactions in this file, we will close the file with your name and open the sample file, LOND08.

Transcription

1 Create reports to summarize data entered Let s look at some sample reports that you might want to use in monitoring your financial performance: Cash flow summaries, including one by tag/enterprise (which also gives the overall total) A summary of payments made to a payee A tax schedule report Because you may have entered only a few transactions in this file, we will close the file with your name and open the sample file, LOND08. Click File Open Click the small arrow next to the Look in: box to reveal the drop-down list. Click Local Disk (C:). Double click Workshop files. Click LOND08. Click OK. Click Reports (from the drop-down menu bar) Banking Cash Flow Note: You may receive a message that data is not available. Click Yes to change the date range. Select Last Year as the date range and Don t Subtotal in the column field. (The fields are circled in the screen below). Note: This tutorial is written as though it is 2008; however, if you are using this in 2007, select Custom Date instead of Last Year and enter the dates as follows for the reports. Custom Date from: 1/1/2007 to: 12/31/2007

2 Scroll through the report to view individual inflow and outflow items as well as totals using the arrow keys and [Page Up] or [Page Down] keys on your keyboard. A copy of the report (London Cash Flow Last Year) is included in this tutorial on page 55. The annual cash flow statement provides a summary of cash income and expenses for the last year using the categories associated with individual transactions. The cash flow report documents sources and uses of funds and can be useful in developing budgets for future years. When you have the cursor over a number in a report and see a magnifying glass, a QuickZoom report is available. Double click to reveal the transactions that make up that number.

3 Click on the Back button in the upper left to return to the Cash Flow. Perhaps your lender requires a monthly cash flow report. Click the Customize button to edit the Title: London Monthly Cash Flow and Column: Month. OK If you think you might want to use this same report settings again, you can memorize its features by clicking Save Report (a disk icon in the taskbar). Type Monthly Cash Flow Description: (optional) Click on Create Folder Type a New folder name: Lender reports

4 OK Click OK. Note: If you select Save report history, you can track each permutation developed to achieve this report. Now, let's develop a cash flow report by tag (farm enterprise). You may want to change the title of the report. Click Customize at right. Type the Title, London Cash Flow by Enterprise and for the Column select Tag, as shown above. Click OK. A report showing a summary of cash inflows and outflows by tag (farm enterprise) for last year appears. Review it to see the cash generated and used by the CowCalf enterprise relative to the Wheat enterprise and to note totals by category for Family Living expenses (see report on page 57). You may memorize this report for future use by clicking the Save button.

5 Type Report name: Cash Flow by Tag Create Folder New folder name: Farm reports OK Check Save report history Click OK What if you want a summary of payments made to the Yukon John Deere dealer during the year? Click the Customize button. Type the Title, Deere Transactions Summary. Click the Payees tab. Select Yukon John Deere from the payee list by clicking on it. The spelling must be the same in all transactions or some transactions will not be found. Click OK. You will now have a summary of expenses at the Yukon John Deere dealership by category and tag. Click the X to close the window (or press [Esc]) to leave the Deere Transactions Summary. Don t Save All of the previous reports have been examples of cash flow reports.

6 Register Transactions - Jan /1/2008 through 1/31/2008 Date Number Description Category Tag Memo Amount Payment or Deposit 1/4/ Southwestern Bell Utilities: Telephone Family Living phone Payment 1/4/ REC Utilities: Gas & Electric Family Living electric Payment 1/5/2008 DEP Julie London Salary Spouse Family Living Deposit Split Tax Spouse: Fed Family Living Tax Spouse: Soc Sec Family Living Tax Spouse: State Family Living Tax Spouse: Medicare Family Living /5/ James Herriot Veterinary CowCalf Payment 1/5/2008 EFT Manulife Insurance Family Living Payment 1/7/ Yukon John Deere Repairs and Maintenance Wheat Tractor overhaul Payment 1/10/ Alan's Pharmacy Medical Family Living Payment 1/10/ Care Clinic Medical Family Living Payment 1/15/ St. Andrew Church Charity Family Living Payment 1/15/ Mastercard [Mastercard] Payment 1/19/2008 DEP Julie London Salary Spouse Family Living Deposit Split Tax Spouse: Fed Family Living Tax Spouse: Soc Sec Family Living Tax Spouse: State Family Living Tax Spouse: Medicare Family Living /22/ Hometown Homeland Groceries Family Living Groceries Payment 1/31/2008 DEP Bill's Service Salary Salary Deposit Split Tax: Fed Federal Tax Tax: State State Tax Tax: Soc Sec Social Security (FICA) Tax: Medicare Medicare Tax Tax: SDI Disability (SDI) 0.00

7 London Cash Flow - Last year 1/1/2007 through 12/31/2007 Category Description INFLOWS Uncategorized 0 Capital Sales, Farm 10, Co-op Distributions Government Payments 3, Interest Inc Raised Sales Grain 42, Livestock 38, TOTAL Raised Sales 80, Salary Other Salary 500 TOTAL Salary 500 Salary Spouse 18, TOTAL INFLOWS 112, OUTFLOWS 6, Auto Gas 24 Service Other Auto TOTAL Auto Bank Charge 14.8 Charity 1, Christmas Clothing Consultants, Farm 150 Dining Dues 24 Farm Dues 24 TOTAL Dues Entertainment 3, Feed Purchased 1, Fertilizer & Lime 10, Freight and Trucking Gas, Fuel, & Oil, Farm 6, Gifts Groceries 2, Home Repair 1, Household Insurance TOTAL Insurance 2,621.45

8 London Cash Flow - Last year-continued Interest Expense Farm Interest Mortgage 8, Farm Interest Other TOTAL Interest Expense 8, Labor Hired 5, Medical Misc Other Expenses Farm Expenses Other 559 TOTAL Other Expenses 559 Rent Land 8, TOTAL Rent 8, Repairs and Maintenance 8, Subscriptions Other Subscriptions 60 TOTAL Subscriptions 60 Supplies, Farm Tax Fed 52 Medicare 7.25 SDI 0 Soc Sec 31 State 18.5 TOTAL Tax Tax Spouse Fed 1, Medicare Soc Sec 1, State 872 TOTAL Tax Spouse 4, Utilities Telephone Other Utilities 1, TOTAL Utilities 1, Veterinary Other Veterinary 1, TOTAL Veterinary 1, TOTAL OUTFLOWS 80, OVERALL TOTAL 32,281.17

9 London Monthly Cash Flow - Last year 1/1/2007 through 12/31/2007 Category Description 1/1/2007-1/31/2007 2/1/2007-2/28/2007 3/1/2007-3/31/2007 4/1/2007-4/30/2007 5/1/2007-5/31/2007 6/1/2007-6/30/2007 7/1/2007-7/31/2007 8/1/2007-8/31/2007 9/1/2007-9/30/ /1/ /31/ /1/ /30/ /1/ /31/2007 OVERALL TOTAL INFLOWS Uncategorized Capital Sales, Farm 10, , Co-op Distributions Government Payments 0 0 3, , Interest Inc Raised Sales Grain , , Livestock , , TOTAL Raised Sales , , , Salary Other Salary TOTAL Salary Salary Spouse , , , , , , , , , , ,373.4 TOTAL INFLOWS 11, , , , , , , , , , , OUTFL OWS Auto Gas Service Other Auto TOTAL Auto Bank Charge Charity , Christmas Clothing Consultants, Farm Dining Dues Farm Dues TOTAL Dues

10 London Monthly Cash Flow - Last year-continued Entertainment , , Feed Purchased , Fertilizer & Lime 0 6, , , Freight and Trucking Gas, Fuel, & Oil, Farm , , , Gifts Groceries , Home Repair , Household Insu rance Other Insurance , , TOTAL Insurance , , Interest Ex pense Farm Interest Mortgage , , Farm Interest Other TOTAL Interest Expense , , Labor Hired , , , Medical Misc Other Expenses Farm Expenses Other TOTAL Other Expenses Rent Land , , , TOTAL Rent , , , Repairs and Maintenance , , , Subscri ptions Other Subscriptions TOTAL Subscriptions Supplies, Farm Tax Farm Property Taxes , , Fed Medicare

11 London Monthly Cash Flow - Last year-continued Soc Sec State TOTAL Tax , , Tax S pouse Fed , Medicare Soc Sec , State TOTAL Tax Spouse , Utilities Cable TV Telephone Other Utilities , TOTAL Utilities , Vete rinary Other Veterinary , TOTAL Veterinary , TOTAL OUTFLOWS 2, , , , , , , , , , , , , OVERALL TOTAL 9, , , , , , , , ,281.17

12 London Cash Flow by Enterprise /1/2007 through 12/31/2007 Category Description CowCalf Family Living Overhead Wheat OVERALL TOTAL INFLOWS Co-op Distributions Government Payments , , Interest Inc Raised Sales Grain , , Livestock 38, , TOTAL Raised Sales 38, , , Salary Spouse , , TOTAL INFLOWS 38, , , , OUTFLOWS Auto Gas Service Other Auto TOTAL Auto Bank Charge Charity , , Christmas Clothing Consultants, Farm Dining Dues Farm Dues TOTAL Dues Entertainment , , Feed Purchased 1, , Fertilizer & Lime , , Freight and Trucking Gas, Fuel, & Oil, Farm , , Gifts Groceries , , Home Repair , , Home Rpair Household Insurance Other Insurance , , TOTAL Insurance , , Interest Expense Farm Interest Mortgage , , Farm Interest Other

13 London Cash Flow by Enterprise Continued Category Description CowCalf Family OVERALL Overhead Wheat Living TOTAL TOTAL Interest Expense , , Labor Hired , , Medical Misc Other Expenses Farm Expenses Other TOTAL Other Expenses Rent Land 1, , , TOTAL Rent 1, , , Repairs and Maintenance , , Subscriptions Other Subscriptions TOTAL Subscriptions Supplies, Farm Tax Farm Property Taxes , , TOTAL Tax , , Tax Spouse Fed , , Medicare Soc Sec , , State TOTAL Tax Spouse , , Utilities Cable TV Telephone Other Utilities , , TOTAL Utilities , , Veterinary Other Veterinary 1, , TOTAL Veterinary 1, , TOTAL OUTFLOWS 7, , , , , OVERALL TOTAL 30, , , , Deere Transactions Summary Last year 1/1/2007 through 12/31/2007 Category Description CowCalf Wheat OVERALL TOTAL OUTFLOWS Repairs and 660 4, , Maintenance TOTAL OUTFLOWS ,586.00