Management accounts are live in Zato

Management accounts are now live in Zato. They run on the same engine as annual accounts, with the same GL scrutiny, traceability, review and sign-off.

Firms can create monthly, two-monthly, quarterly, six-monthly or custom periods, calculated from each client’s balance date. A single job or a whole client list can be set up at once, filtered by balance date and GST period, or imported from XPM. When the director signs off, the next period is created automatically.

Nine workpapers are built for month-end: bank reconciliation, accounts receivable, accounts payable, GST reconciliation and period variance, PAYE and wages, fixed assets, loans and hire purchase, other current assets and other current liabilities. Firms choose the workpapers each job needs.

Each profit and loss line can be compared with the previous period or the same period last year, in dollars and percent. GL scrutiny flags, commentary and queries sit against the line they affect, and every figure remains traceable to the underlying general ledger transactions.

Zato produces a profit and loss, a balance sheet and a client report with commentary and actions, downloadable as PDF. Review follows accountant, manager and then director, and Ziffy answers questions in the context of the relevant period.

GST Returns, BAS and more are next on the platform.