Understanding your Reports & Insights in Tide Accounting

We know just how difficult it is to understand your cash flow, net profit, revenue, and expenses. And, if you're looking to apply for finances – you need this information, fast.

Tide Accounting's Reports & Insights help you to read and understand your finances, at the click of a (few) button(s) with Tide Accounting.

In this guide, learn how to:

Access and use Reports & Insights

The benefits they have for your business

How to make the most of your financial insights and reports

Access Reports & Insights

If you're wondering how much money your business made or spent, during a certain time period, then look no further. Use Reports & Insights to generate real-time charts that show you your cash flow and downloadable reports with more details.

Go to Admin > Insights to access your data

Your business Reports

Within Reports & Insights, you'll see three dedicated buttons, at the top, showcasings your report. You'll be able to generate your:

Profit & Loss (P&L)

Otherwise known as your Income Statement, the P&L report will help you understand your income and expenses. The P&L is essential, if you're seeking funding or filing your end-of-year reports.

To generate your P&L report in PDF or CSV, go to:

Admin > Insights > Profit & Loss

Balance Sheet

The Balance Sheet is a good place to understand your organisation's financial stability and risk. Or, to know if you can expand your company or pay down debt,

This statement shows you everything that your business owns (assets) and everything that it owes (liabilities), to determine your company's net worth.

To generate your Balance Sheet in PDF or CSV, go to:

Admin > Insights > Balance Sheet

Trial Balance

This report is pretty useful for your Accountant – to quickly spot if your debit and credit numbers don't match in the general ledger. The Trial Balance report shows the closing balances of all your accounts.

To generate your Trial Balance in PDF or CSV, go to:

Admin > Insights > Trial Balance

Your business Insights

Next, you'll see an overview and three graphs that show you your business's:

Cash flow

The net amount of money going in and out of your business

Net profit

The money you've made, after paying all costs and taxes

Revenue

The money you've made from selling your business or services

Expenses

The costs your business has to pay

Use Reports & Insights

Analyse and review how your transactions affect your bottom-line in real-time.

Take informed decisions with Reports

Generate your Profit & Loss (P&L), Trial balance, and Balance sheet for the Financial Year or a custom period.

In your app, tap: Admin > Insights > select the relevant report > select the specific financial year or enter a custom date range > select if you'd like to download your report as PDF or CSV

On the web, click: Admin > Reports & Insights > select the relevant report > select Custom from the right-hand menu > enter the date range > select if you'd like to download your report as PDF or CSV

See how money moves through your business with Insights

View your Net profit, Revenue, and Expenses in the last 6 months.

Click on any of the specific months to get a more detailed breakdown of your transactions. For example, if your Net profit in August is £100, check to see which transactions affected your business

Aim to predict your Cashflow with your historical, current, and projected payments

You can get a better overview of your Cashflow. In your app, simply tap View details and discover:

Balance today – what your account balance currently holds

Projected balance – taking into account your current balance, expected money to be paid to you (via due Invoices), and transfers set to go out of your account (via upcoming bills and scheduled payments)

Activity (a bar chart) and Balance tracker (a line graph) – both reflect the money going in and out of your account within a 6-month-timeframe. That includes the past 4 months, the current month, and the one that follows

Benefits for your business

Money insights

You can understand what's driving your costs: expenses, profit, and revenue

No-stress tax season

You can use the data for your Self Assessment, Corporation Tax estimates, or VAT returns

Grow your business

You can make better business decisions with clear cash flow

Avoid shortfalls

You can better predict when you'd expect rising costs or drops in the cash flow

Financial applications

You can prepare all documents, when applying for external financing, in just a few clicks

Make the most out of Reports & Insights

Double-check to see that all your transactions are labeled correctly. Learn how to add your missing categories

Match your invoices and payments to ensure you don't duplicate costs. Check out how to keep your account in order and automatically match your invoices

Complete all your bookkeeping tasks, so your Bookkeeping Score is 100%

Ensure you've connected all of your relevant Tide accounts, and accounts from other providers, to the accounting add-on you use. Learn how to connect to Xero or other providers (ie. Sage, FreeAgent, Coconut, CashFlow, QuickBooks, Crush, ClearBooks or Reckon)