Tag and track business performance with Pastel My Business Online Analysis Codes

Pastel My Business Online now offers a powerful new Analysis Codes feature that makes it simple to keep tabs on business transactions.

May 14, 2014

Pastel My Business Online – the Sage Pastel online accounting solution for start-up and small businesses – now offers a powerful new Analysis Codes feature that makes it simple to keep tabs on the business transactions and operations that matter most to you.

Using Analysis Codes, you can track and report on up to three different dimensions of your business. You can tag individual transactions in your accounting records to assign them to a specific dimension. You can then report on these tagged transactions to give you a greater understanding of how each aspect of your operations is performing. That means you can easily track the performance of particular jobs, contracts, cost centres, regions and projects.

You can also create budgets related to particular Analysis Categories and track their performance against these targets. Analysis Codes are available on the following performance reports:

  • Profit and loss
  • Sales by item
  • Purchases by Item
  • Account Transactions

Here’s one example of Analysis Codes in action. Imagine a small construction company—ABC Construction—with interests in residential, commercial and industrial property development. The company employs numerous contractors across the many projects it has on the go at any given time.

By assigning an Analysis Code for ‘Development Type’, ABC will be able to compare the performance of residential, commercial and industrial developments. A second Analysis Code for contractors might allow ABC to assess how much it spends per external contractor. Then, ABC could have a third Analysis Code for individual projects to compare profit and loss per project. These valuable insights will give ABC Construction much needed information about how its business is performing.

This is just one of the many features you’ll find in Pastel My Business Online. With its customisable dashboard, you can get an in-depth understanding of how your business as a whole is performing in a single view.

The solution allows you to manage your customers, suppliers and inventory in one place, while automatic bank feeds save you the time you used to spend doing manual processing and bank reconciliations.