Reports

How reports are built

Every financial report reads from posted general ledger entries, so what you see always reconciles to your books. Reports are filtered by company and date range, and most can be exported for sharing or archiving.

Financial statements

• Trial balance — every account with its debit or credit balance; the starting point for verifying the books balance.
• Profit & loss (income statement) — income less expenses over a period, showing your net result.
• Balance sheet — assets, liabilities and equity at a point in time.
• General ledger & account statement — the detailed movements behind any account balance.

VAT return

The VAT return summarises the VAT you owe and can reclaim for a filing period, ready to transcribe onto the tax authority's form:

• Output VAT — tax charged on sales, by rate (standard, zero-rated, exempt).
• Input VAT — tax paid on purchases and eligible to reclaim.
• Net VAT — output less input; the amount payable to or refundable from the authority.

Operational reports

• Sales & purchase registers — every document over a period, with customer/supplier, net, VAT and total.
• Receivables & payables ageing — outstanding balances bucketed by how overdue they are.
• Inventory reports — stock on hand, valuation and movement across warehouses.