PayTraq Blog

A Cloud-based Business Suite

PayTraq Multi-Language Support

Do you know that PayTraq can be used in many languages? Users can view the accounting software interface in the chosen language in just one click.

With PayTraq, you can send invoices (orders, proformas, packing lists, etc.) in national language to your local customers and in English to your international customers.

Every country has its own localized version of the service. Chart of accounts, financial statements and tax reports are provided in the local language by default.

Currently we are adding a new feature specifically designed for businesses from non-english speaking countries - support for financial statements in English.

While most accounting programs support only one language, imagine you get a foreign partner who wants to see a standard set of financial statements of your company, such as balance sheet, profit and loss statement, and cash flow statement. This is when your accountant has to become a translator for a

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Posted in accounting, Financial statements, business, financial analysis, updates

Green Light

In this article, we will focus on the main PayTraq dashboard, financial indicators and methods of their calculation and evaluation.

The main documents used in accounting are the balance sheet and profit and loss statement. These two documents are the basis for analysis and business planning.

First of all, let us explain what a balance sheet and profit and loss calculation are:

A balance sheet is a financial statement that summarizes a company's assets, liabilities and shareholders' equity at a specific point in time. An asset is something that is owned by a company, such as property, equipment, inventories, cash balance and accounts receivable. A liability is a source of funds for a company, includes chartered capital, retained profit and debts.

Profit or loss statement is a summary of income and expenditure items of an enterprise during the accounting period. The profit or loss for the accounting period is a

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Posted in business, financial analysis, accounting