A carrying bag comprising a main compartment having a front panel, a back panel and two side panels; two side flaps attached to the back panel protruding laterally; and a carrying strap having a first end attached to the first side flap and a second end attached to the second side flap, wherein the first and second side flaps have a first configuration and a second configuration, wherein in the first configuration, the side flaps project upwards so that the carrying strap can function as a shoulder strap and in the second configuration, the side flaps can be folded and secured onto itself to project laterally and function as a waist strap.