Financial Reports Overview
What Are Financial Reports?
Financial reports are documents that show you how your garage is performing financially. They take all your transactions -- invoices, payments, expenses, parts purchases -- and organize them into meaningful summaries that help you make better business decisions.
Why this matters:
Running a garage without financial reports is like driving without a dashboard. You might feel like things are going well, but you have no way to know for sure. Financial reports give you the numbers you need to answer critical questions:
- Am I making money or losing it?
- Where is my money going?
- Who owes me money?
- How much cash do I have available?
- Am I charging enough for my services?
Available Reports
autoGMS provides a comprehensive suite of financial reports. Here is what each one tells you:
Alongside the reports, autoGMS also includes Financial Entries, a dedicated page for prepaid expenses, payables, asset purchases, capital contributions, and account transfers.
Core Financial Statements
| Report | What It Shows | When to Use It |
|---|---|---|
| Profit & Loss | Your income minus your expenses, showing whether you made or lost money | Monthly review, accountant meetings, tax time |
| Balance Sheet | A snapshot of what you own (assets), what you owe (liabilities), and your net worth (equity) | Understanding your financial position, loan applications |
| Cash Flow | How cash moves in and out of your business | Managing cash reserves, planning purchases, avoiding cash crunches |
Operational Reports
| Report | What It Shows | When to Use It |
|---|---|---|
| Aged Receivables | Unpaid customer invoices organized by how long they have been outstanding | Chasing payments, identifying problem customers |
| Aged Payables | Bills you owe to suppliers organized by due date | Managing supplier payments, cash flow planning |
| Financial Actuals | Actual performance compared to your budget or forecast | Tracking against targets, identifying variances |
Supporting Reports
| Report | What It Shows | When to Use It |
|---|---|---|
| Financial Entries | A dedicated entry page for accounting-aware transactions | Recording prepaid items, payables, capital injections, transfers, and asset purchases |
| General Ledger | Every financial transaction in detail | Auditing, investigating discrepancies, detailed analysis |
| Account Balances | Current balance of every account in your chart of accounts | Quick overview, month-end reconciliation |
| Tax Report | VAT/GST collected and paid, ready for filing | Quarterly or monthly tax returns |
How to Access Financial Reports
- Log in to your autoGMS dashboard.
- From the sidebar, click Financial Reporting.
- Select the report you want directly from the section (for example, Profit & Loss or Balance Sheet).
To record prepaid items, payables, asset purchases, capital contributions, or transfers before reviewing the reports:
- Open Finance.
- Click Accounting Entries.
- Add the relevant entry there first.
Good to know: Financial reports are available to garage owners, organisation owners, and garage admins. Managers with finance permissions can view reports but may have limited export capabilities.
Common Report Features
All financial reports share some common features:
Date Range Selection
Every report lets you select the time period you want to analyze:
- This Month -- Current calendar month
- Last Month -- Previous calendar month
- This Quarter -- Current quarter
- Last Quarter -- Previous quarter
- Year to Date -- January 1st through today
- Last Year -- Full previous calendar year
- Custom -- Any date range you specify
Comparison Mode
Most reports let you compare the selected period to:
- Previous Period -- Compare this month to last month
- Same Period Last Year -- Compare this March to last March
Export Options
Export reports in multiple formats:
- PDF -- Formatted for printing and sharing
- CSV -- Open in Excel or Google Sheets for analysis
- Email -- Send directly to your accountant
Drill-Down
Click on summary numbers to see the underlying transactions. For example, click on "Accounts Receivable" in the Balance Sheet to see which customers owe you money.
Which Report Should I Use?
"Am I making money?"
→ Start with the Profit & Loss report
"How much cash do I have?"
→ Check the Cash Flow report
"Who owes me money?"
→ Run the Aged Receivables report
"What bills do I need to pay?"
→ Check the Aged Payables report
"What is my garage worth?"
→ View the Balance Sheet
"How much tax do I owe?"
→ Generate the Tax Report
"Am I on track with my budget?"
→ Review Financial Actuals
"I need to find a specific transaction"
→ Search the General Ledger
"I need to record a prepaid, payable, asset purchase, owner contribution, or transfer"
→ Use Financial Entries
Report Best Practices
Review Regularly
| Report | Suggested Frequency |
|---|---|
| Profit & Loss | Monthly |
| Cash Flow | Weekly to monthly |
| Aged Receivables | Weekly |
| Aged Payables | Weekly |
| Balance Sheet | Monthly or quarterly |
| Tax Report | Per filing period |
Share with Your Accountant
Export and share reports with your accountant regularly. They can spot issues you might miss and help you make better decisions.
Compare Periods
A single number in isolation means little. Always compare to previous periods to understand trends and identify changes.
Act on What You Learn
Reports are only valuable if you act on them. If aged receivables show a customer 90 days overdue, call them. If the P&L shows a spike in expenses, investigate.
Getting Started
If you are new to financial reports, start with these three:
- Profit & Loss (monthly) -- Tells you if you made or lost money
- Aged Receivables (weekly) -- Shows who owes you money
- Cash Flow (monthly) -- Shows if you have enough cash
As you become comfortable with these, explore the other reports to get deeper insights into your business.
Need Help?
Each report has its own detailed documentation page (linked above) with explanations of every section, tips for interpretation, and frequently asked questions.
If you need assistance understanding your reports or making business decisions based on them, consult your accountant or contact autoGMS support.
Quick Reference
| I want to... | Report | What I'll see |
|---|---|---|
| Check if I'm profitable | Profit & Loss | Revenue, expenses, net profit |
| See what I own and owe | Balance Sheet | Assets, liabilities, equity |
| Track cash movement | Cash Flow | Operating, investing, financing flows |
| Find overdue customer payments | Aged Receivables | Invoices by days overdue |
| See bills I need to pay | Aged Payables | Supplier bills by due date |
| Track against my budget | Financial Actuals | Actual vs. budget variances |
| Find a specific transaction | General Ledger | Every debit and credit |
| Check account balances | Account Balances | Current balance per account |
| Calculate VAT owed | Tax Report | Output tax minus input tax |