Step 1
Choose the right report and date basis
A stock snapshot shows a quantity at a point in time; a sales report summarizes transactions over a period. Receivables show unpaid balances. The invoice date, delivery date and payment date can belong to different periods, so check which one the report uses.
- State the business question before selecting the report.
- Set dates, locations and other available filters.
- Check how drafts, returns, credits and cancellations are treated.
Step 2
Check quantities, values and currencies
Inventory quantity and inventory value are different measures. Revenue is also different from cash received. Avoid combining amounts in different currencies without a documented conversion basis, and verify whether amounts include or exclude tax.
- Read the unit, currency and tax basis of each column.
- Distinguish revenue, receipts and outstanding balances.
- Compare a sample row with its source document.
Step 3
Reconcile exceptions and retain the report context
When a total looks wrong, start with the filters and definitions before assuming missing records. Trace unusual values to invoices, receipts or stock movements. Use the export or saving options available in your workflow and retain the report period and filter settings.
- Investigate negative stock and overdue balances.
- Check partial payments, returns and late-entered transactions.
- Record the report date and filters when sharing results.
Worked example
Example: revenue versus cash received
Invoices issued total 5,000 during a month, while payments received against those invoices total 3,000. The remaining 2,000 is unpaid before credits. A cash report may also include payments for older invoices, so it need not equal monthly invoiced revenue.
Illustrative example; use your own transaction data.
Frequently asked questions
Why does my sales report differ from my bank deposits?
Sales and payments can occur in different periods. Partial payments, older invoices, fees, credits and the report’s date basis can also produce differences.
Can I sum stock value across currencies?
Only with a consistent documented conversion basis. Keep the original currencies identifiable and understand the exchange rates and valuation method used.