See your profit and loss and balance sheet

What each tab shows

• Trial balance: opening, debit, credit and closing for each group, or each ledger with Show ledgers on. Click a ledger to see every posting to it.
• Profit & loss: income and expenses for the period, with gross and net profit.
• Balance sheet: what the business owns and owes as on a date, in the vertical form or in Schedule III form for companies.
• Cash flow: cash from operating, investing and financing activities, by the indirect method (AS 3).
• Funds flow and Ratios: where funds came from and went, and ratios such as the current ratio.
• Cost centres: profit and loss split by project, department, vehicle or site.

Getting figures you can rely on

The statements are only as good as the entries behind them. Before you send them to your CA or bank:

• reconcile your bank accounts, so the bank balance is real;
• post depreciation up to the date, under Fixed assets;
• post any provisions (rent, audit fee) as journal vouchers;
• check the Review tab under Accounting for entries your accountant has not seen.

Who can see them

The statements need the books reports permission. The Owner, Admins and Accountants have it, and so does the Chartered Accountant role you can give your external CA, who can read and download but not change anything. The same statements are also listed under Reports → Books, where you can have them emailed on a schedule.