What is the difference among recommended Reports, Receivable Reports & Payable Reports?
Recommended Reports: Set of reports which are frequently used to supervise or cross checks of accounts activities of the company by accountants, decision makers, CXOs etc. Example: Balance Sheet, Profit & Pass Statement (P&L), Cheque details etc.
Receivable Reports: Consists of reports related to sales and service to monitor customer’s accounts transactions like sales / service invoices, List of customers, Sale by customers, trade receivable etc.
Payable Reports: Payable reports are pertaining to vendors or other payees to monitor account activities like Vender List, TDS payable, trade payable, total paid payment in the duration etc.
What are Payroll reports? Payroll reports consists of all payroll related information like salary paid to employee, Employee list etc.