Financial Reports
Generating Reports
The Reports menu is where you can analyze your financial data. For all reports, you can either select a predefined Financial Period or specify a custom date range to generate the report.
Trial Balance
Purpose: This is an internal report used to verify that the total of all debit balances equals the total of all credit balances in the ledger. It's the first step in ensuring your books are mathematically correct before generating other reports.
You can also generate a PDF version of the report using a layout from the Document Editor.
Other Core Reports
The process for generating the following reports is identical to the Trial Balance. Simply navigate to the desired report from the Reports menu and select your date range.
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Income Statement: Also known as a Profit & Loss (P&L) statement, this report shows your business's financial performance over a period by subtracting total Expenses from total Revenue to arrive at the Net Income or Net Loss.
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Balance Sheet: A snapshot of your company's financial position on a specific date. It shows what you own (Assets) and what you owe (Liabilities). The remaining value is the owner's Equity. It is based on the fundamental accounting equation: Assets = Liabilities + Equity.
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Cash Flow Statement: This statement tracks the movement of cash through the business, categorized into operating, investing, and financing activities. It helps you understand how your company is generating and using cash.
