Report
Financial Reports Overview
The Financial Reports module is your main dashboard for tracking the financial health of your business. It takes all the daily activities—like sales, purchases, and payments—and turns them into easy-to-read statements. Whether you need to see if you made a profit this month, check how much a specific customer owes you, or prepare documents for tax season, you will find what you need here.
When Do I Use This?
- End of Month/Year: To generate official financial snapshots like the Balance Sheet and Income Statement.
- Customer & Vendor Management: To pull up a Party Statement to see exactly how much a customer owes you or how much you owe a supplier.
- Auditing: To verify bank balances or cash drawer totals using the Account Statement.
- Bookkeeping Checks: To run a Trial Balance and ensure your accounting records are perfectly balanced before closing a period.
Navigating the Financial Dashboard
Go to Financial → Reports from the main menu. You will see a list of available financial statements. Clicking on any of these will take you to a screen where you can set your dates and generate the report.
1. Account Statement
This report acts like a bank statement for any account in your system (e.g., Cash, Bank, Inventory, or Office Supplies). It shows you the starting balance, every transaction in or out, and the final running balance.
How To Use
- Select Account Statement from the dashboard.
- Search for the specific Account (e.g., "Petty Cash").
- Set your Date From and Date To.
- Click Submit.
| Report Column | Description |
|---|---|
| Opening Balance | The amount of money in the account exactly before your selected start date. |
| Transaction / Ref | Links to the specific transaction ticket. Useful if you need to investigate a strange entry. |
| Debit / Credit | The amount added to or subtracted from the account. |
| Closing Balance | The final amount in the account at the end of your selected date range. |
2. Balance Sheet
The Balance Sheet is a snapshot of your business's overall financial position at a single point in time. It proves the accounting equation: Assets = Liabilities + Equity.
How To Use
- Select Balance Sheet from the dashboard.
- Select your Date To (e.g., the last day of the year).
- Click Submit.
The report will split into three sections:
- Assets: What the business owns (Cash, Inventory, Equipment).
- Liabilities: What the business owes (Loans, Unpaid Bills).
- Equity: The owner's remaining stake in the business.
3. Income Statement
Also known as a Profit & Loss (P&L) statement. This tells you if your business made money or lost money during a specific timeframe.
How To Use
- Select Income Statement from the dashboard.
- Select the Date From (start of the month/year) and Date To (end of the month/year).
- Click Submit.
| Report Section | Description |
|---|---|
| Revenue | All income generated from sales or services. |
| Expense | All costs incurred to run the business (rent, salaries, materials). |
| Net Income | The bottom line. Revenue minus Expenses. If it is positive, you made a profit! |
4. Party Statement
A "Party" is anyone you do business with—a customer, a vendor, or an employee. This report shows you their ledger, detailing what they owe you (Accounts Receivable) and what you owe them (Accounts Payable).
How To Use
- Select Party Statement from the dashboard.
- Search for the Party by typing their name in the search box.
- Set your Date From and Date To.
- Click Submit.
| Report Section | Description |
|---|---|
| Account Receivable (A/R) | Money the party owes the business (e.g., unpaid customer invoices). |
| Account Payable (A/P) | Money the business owes the party (e.g., unpaid supplier bills). |
5. Trial Balance
This is an internal report usually used by accountants. It lists every active account in your system and ensures that the total of all Debits equals the total of all Credits.
How To Use
- Select Trial Balance from the dashboard.
- Set your From and To dates.
- Click Submit.
Review the very bottom of the report. The system will clearly display a green Balanced alert if your books are correct. If something went wrong in manual journal entries, a red Unbalanced! alert will appear with the difference amount.