Using AskBiz for Year-End Reporting

At your accounting year end, your accountant will prepare your annual statutory accounts (and Corporation Tax return if you are a Ltd company, or Self Assessment if you are a sole trader). To do this, they need a complete and accurate picture of your year's financial activity.

AskBiz can export a comprehensive year-end data package:

Go to Finance → Reports → Year End Export and select your accounting year end date. The package includes:

• Full year P&L (revenue, COGS, gross profit, operating expenses)
• Revenue breakdown by channel and product category
• COGS breakdown by product
• Returns and refunds log
• Debtors outstanding at year end
• Creditors outstanding at year end
• Inventory value at year end
• Capital expenditure during the year
• Marketplace fees and commissions paid

The quality of your year-end accounts depends on the completeness of your data throughout the year. Run AskBiz's year-end readiness checklist in the final month of your accounting year:

Go to Finance → Year End → Readiness Check. AskBiz reviews:

• Are COGS entered for all products? (Missing COGS = overstated gross profit)
• Are all cost lines entered in Cost Tracking for the full year?
• Is your inventory value reconciled with your physical stock count?
• Are all outstanding purchase orders received and invoiced?
• Are all outstanding sales invoices either paid or clearly outstanding at year end?

Address any gaps before your year end date — retrospective corrections are harder and more expensive to make.

Year end is also the best moment to do a comprehensive year-on-year performance analysis using AskBiz. Compare the year just ended against the prior year on:

• Revenue growth by channel (which channels drove growth?)
• Gross margin trend (did margin improve or erode?)
• Customer metrics (did repeat purchase rate improve? Did LTV increase?)
• Operational efficiency (did cost per order decrease? Did on-time dispatch improve?)
• Cash conversion cycle (is the business becoming more or less cash efficient?)

Go to Finance → Year in Review for AskBiz's auto-generated annual business review — a narrative summary of your year's performance with year-on-year comparisons on all key metrics. Share this with your leadership team and use it as the foundation for next year's planning.