Financial Reports
Last update:
07/21/2026
Completed
In this topic
Financial Reports Overview
- Introduction to Financial Reports
- Setting Your Fiscal Year
- Reading the Balance Sheet
- Reading the Profit and Loss Report
- Cash Flow Statement & Executive Summary
- General Ledger & Trial Balance
- Partner Ledger & Aged Receivable/Payable
- Preparing Your Tax Return
- Auto-Creating Fiscal Years & the Formal Closing Wizard
Fiscal Year Configuration
Balance Sheet
Profit & Loss
Cash Flow & Executive Summary
Audit Reports
Partner Reports
Tax Report
Advanced Fiscal Year Tools
Introduction to Financial Reports
What This Module Is
The Financial Reports engine (Accounting > Reporting) generates all of your statutory and management financial statements directly and continuously from your ledger — there is no separate "close the books, then generate reports" step; every report reflects live data as of the moment you open it.
Reports Included
| Report | Purpose |
|---|---|
| Balance Sheet | Assets, Liabilities, and Equity as of a point in time. |
| Profit and Loss | Revenue, costs, and net income over a period. |
| Cash Flow Statement | Cash movement grouped into operating, investing, and financing activities. |
| Executive Summary | A one-page condensed view of the most important figures for non-accountants. |
| General Ledger | Every journal item, account by account — the full audit trail. |
| Trial Balance | Opening, debit/credit movement, and closing balance per account for a period. |
| Partner Ledger | All transactions for one customer/vendor, for reconciling a specific account. |
| Aged Receivable / Payable | Outstanding customer/vendor balances bucketed by how overdue they are. |
| Tax Report | Tax collected and paid, laid out to match your tax authority's return format. |
Common Controls Across Every Report
- Date filter – a specific date (Balance Sheet) or a date range (P&L-style reports), with quick options like This Month/Quarter/Year and a custom range.
- Comparison – add one or more prior-period columns side by side (e.g. this month vs last month vs same month last year).
- Journals filter – restrict to specific journals (useful to isolate one business line or company branch).
- Hide zero lines – collapse rows with no activity so the report stays readable.
- Export – PDF and XLSX from every report, for sharing or further analysis.
- Multi-company – run a single company or a consolidated view across several, if you manage more than one.
Every Number Is Clickable
Click any line's amount to drill down into the underlying journal items — the report is never a dead-end number, it's always one click away from the actual transactions that produced it. This is the fastest way to answer "why is this number what it is" without leaving the report.
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This documentation is updated continuously. Some features described here may be renamed, deprecated, or still being finalized.