Accurate financial tracking is essential for any business, and PRO Software Solutions provides robust tools for managing your Chart of Accounts and generating financial reports with ease. Whether you're reviewing balance sheets, tracking overdue payments, or customizing financial reports, PRO Software simplifies the process.
Customizing Your Chart of Accounts
The Chart of Accounts serves as the backbone of your financial reporting, organizing expenses, income, and liabilities into a structured format.
How to Access and Customize Your Chart of Accounts:
- Navigate to the Accounting Module:
- From the PRO Home Screen, click Accounting.
- Open the Chart of Accounts:
- Go to Configuration > Chart of Accounts.
- Review or Customize Your Chart:
- The default Chart of Accounts follows PSAI-recommended structures but can be fully customized to align with your existing accounting system.
- Meet with the PRO Onboarding Team (if needed):
- If transitioning from another accounting software, our implementation team can assist in mapping your existing accounts for a seamless migration.
Generating and Viewing Financial Reports
Financial reports in PRO Software provide insight into revenue, expenses, and overall business health. Here’s how you can access these reports:
Steps to View Financial Reports:
- Go to the Accounting Overview Page.
- Click "Reports" in the Blue Header Menu.
- Select the Type of Report You Need:
- Profit & Loss (P&L) Report – Tracks income and expenses.
- Cash Flow Report – Monitors cash movement over a period.
- General Ledger – Provides a detailed transaction record.
- Invoices Report – Shows billed and outstanding invoices.
Customizing Reports for Your Business
- Reports can be tailored to your specific needs.
- If you require a custom report, consult with your PRO Software Trainer for a customization quote.
- Reports can be printed or exported to Excel (XLSX) for further analysis.
Tracking Payments and Managing Overdue Invoices
Unpaid invoices can impact cash flow. PRO Software helps you track overdue payments and follow up with customers.
How to View and Manage Overdue Payments:
- Go to Accounting > Customers > Payments.
- Filter and Group Payments:
- Use sorting tools to segment overdue invoices by customer or date.
- Define a Follow-Up Strategy:
- Set automated actions based on how overdue an invoice is.
- Send reminders or escalate collections based on overdue timeframes.
- Send Overdue Invoice Notifications:
- Click into any Overdue Invoice and send a direct payment reminder.
💡 Tip: If a customer has multiple overdue invoices, the most overdue invoice will determine the severity of follow-up actions.
Advanced Financial Reporting Features
For more in-depth financial management, PRO Software provides specialized reports:
- Deposit Detail Report – Shows historical deposits within a selected timeframe.
- Sales Tax Report – Tracks tax collected on sales for compliance and filing.
- Balance Sheet Report – Summarizes your company’s liabilities, assets, and equity.
- Customer Aging Report – Helps prioritize collections based on overdue balances.
Final Thoughts
With PRO Software, businesses can streamline accounting, reporting, and financial decision-making all in one platform. By using the Chart of Accounts, custom financial reports, and automated overdue payment tracking, companies can stay on top of their finances and improve cash flow management.