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  • Financial Reports including Balance Sheet, Profit and Loss, Trial Balance, Aged Debt and Payable, Stock Valuation
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Table of Contents

Overview

When using and Analysing the Balance Sheet and Profit and Loss

See also Chart of Accounts

See also GST Explorer for BAS

Run report to PDF

Any of the financial reports can be run to PDF by choosing that option


Balance Sheet

The balance sheet is a "Point in time" report.

The Balance sheet shows all values from the start of the financial year that the report is run in.  Retained earnings is calculated if the previous periods have not been closed.

Navigate to the Standard Report screen - enter the date to run the report

If run to PDF - the balance sheet presents in a PDF viewer in the browser on your machine - you can save it as a pdf from there using "Send Report to"

Export grid to Excel - Top RHS of grid - right click - export to excel if you want to have the information in excel

The Values on the report are directly from your General Ledger financial transactions.

Stock Valuation

The warehouse screen shows stock valuation (stock quantity x average cost) and compares it to the balances sheet stock valuation

Choose a warehouse to see the valuation in that warehouse

There is also a view of the change over time by day in a month and by month

Profit and Loss

The profit and loss is a period based report.  From date and to date.  The profit and loss cannot cross financial years.

See also - Customers and the Debtor Card#Debtorprofitandlosscanincludethechildrentransactions

Profit and Loss showing Sales Channels

Define Sales Channels and Tags

Debtors are linked to a sales channel - this can be used to break out totals in the profit and loss reports.  

Multiple sales channels may have the same tag.

Profit and Loss showing breakouts by sales channel

* = all sales channels

Otherwise enter the tag/s to reference.


Profit and Loss Eliminating intercompany transactions

Any company that you trade with (Debtor or Creditor or Host Company) that your business is a 100% owner of will be eliminated

  

Will be removed from the profit and loss

The removal of intercompany values is at the end of the report section - as seen below at the bottom of the Revenue section is the removal. The only exception to this is the Cost of Goods Sold control account - they are removed directly below the Account (see Interco COGS) below - the remainder from the Cost of Sales section are removed at the bottom of the section (see Interco Costs (non-COGS)



Trial Balance

The Trial Balance Report is an accounting report to check all journals in the system are balanced - it is an AS-AT report From the start of the financial year that the report is run in.

GST Report - Accrual / Cash

GST report - Accrual Basis

Note that the GST Explorer for BAS is an online view of this information only for Accrual Accounting with the ability to drill to the journal details.

The GST Reports find all the GST transactions that are reportable between the dates selected.  The Accrual basis report indicates GST based on when the GST is incurred (ie the invoice date)

GST Report Cash basis

The cash basis report indicates GST due based on when payments are made.


To review balances in any report from the report

Right click on a value in the report and "View Transactions" - you can then export these grids to excel if you would like to analyse them further.

There is both a detailed transaction list and a summary view

  

Detailed transactions view...

To Review Balances from any of the reports - in the GL

To review all the transactions for any of the values on the balance sheet - use the GL chart of Accounts

The number of transactions returned is limited by your user preference settings

Filter in the Grid

Note that you can filter in the grid

Double click to open any of the transactions

Example here is an invoice - Note that many links exist in the system

Aged Debt Report - on rear of Debtor Screen

To review aged debt report - have a look at the Customer Reports Section - you can export to excel to review the details.  For more detail see Collecting Debt from Customers

Aged Debt by Invoice Date (commonly required by the banks)

Some banks will request this report be provided weekly or monthly to secure funding

Ageing Receivables Report - rear of Creditor Screen

On the Supplier Reports section is the Ageing report in a similar fashion.


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