Financial Statement
Last updated
Last updated
Welcome to the Financial Statement page! Here, you will find four key reports that provide essential insights into the financial performance and position of the organization or entity. These reports include the Trial Balance, Income Statement, Cash Flow Worksheet, and Balance Sheet.
Trial Balance: The Trial Balance report offers a snapshot of the organization's financial records. It lists all the accounts and their respective balances, including assets, liabilities, and equity. By reviewing the Trial Balance, you can ensure that the debits and credits in the accounting system are in balance, providing a foundation for accurate financial reporting.
Income Statement: The Income Statement, also known as the Profit and Loss Statement, presents the organization's revenues, expenses, gains, and losses over a specific period. It provides a summary of the financial performance, highlighting the net income or net loss. By analyzing the Income Statement, you can assess the profitability and efficiency of the organization's operations.
Cash Flow Worksheet: The Cash Flow Worksheet focuses on the cash inflows and outflows of the organization. It tracks the movement of cash from operating activities, investing activities, and financing activities. This report provides valuable insights into the organization's cash position, liquidity, and ability to meet financial obligations.
Balance Sheet: The Balance Sheet offers a snapshot of the organization's financial position at a specific point in time. It presents the assets, liabilities, and equity of the entity. By examining the Balance Sheet, you can assess the organization's financial stability, solvency, and the relationship between its assets and liabilities.
Step 1: Navigate to the financial statement.
locate the financial statement menu in Account payable page.
Step 3: Specify the date range for the reports.
Look for the first row, which contains an input field to enter the desired date range for the reports. This enables you to focus the reports on a specific time period.
Step 4: Generate the Trial Balance report.
In the first row, click on the button labeled "Trail Balance" to initiate the report generation process. This report provides a snapshot of the organization's account balances at a specific date range.
Step 5: Specify the date range for the Cash Flow and Income Statement.
Look for the second row, which contains an input field to enter the desired date range for the Cash Flow and Income Statement reports.
Step 6: Generate the Cash Flow and Income Statement reports.
In the second row, click on the button labeled "Cash Flow and Income Statement" to initiate the report generation process. These reports provide insights into the organization's cash inflows, outflows, revenues, and expenses within the specified date range.
Step 7: Specify the date range for the Balance Sheet.
Look for the third row, which contains an input field to enter the desired date range for the Balance Sheet report.
Step 8: Generate the Balance Sheet report.
In the third row, click on the button labeled "Balance Sheet" to initiate the report generation process. This report provides a snapshot of the organization's assets, liabilities, and equity at a specific date range.
Step 9: Wait for the reports to be generated.
Depending on the amount of data and the processing speed, the report generation process may take a few moments. Please be patient while the system generates each report.
Step 10: Review and analyze the generated reports.
Take the time to review each report individually to gain insights into the organization's financial performance, position, and trends.
