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Financial Statements

Report Module Guide: Financial Statements

Module Location

Finance > Reports > Financial Statements

Module Objective

The Financial Statements module is the final and most important module in the accounting reporting cycle. Its purpose is to generate the company's main financial statements, such as the Balance Sheet and the Income Statement, which summarize the company's overall financial health and performance.

1. Report Parameters (Filter)

The main page of this module is a form containing various parameters to generate a specific financial report.

Here is an explanation for each key parameter:

  • Report Type Filter (Topmost):

    • This is the primary filter (currently showing "All") used to select the type of financial statement you want to generate. The options will most likely be Balance Sheet, Income Statement, and other related reports.

  • Period:

    • Specify the report's date range.

    • For the Income Statement, the From and To dates define the performance period (e.g., October 1 to 31).

    • For the Balance Sheet, the To date is the financial position date ("as of" date).

  • Currency:

    • Set the currency preference for the report.

2. Steps to Generate the Report

Step 1: Set Report Parameters

Define the parameters you need, especially selecting the desired report type and specifying its Period.

Step 2: Generate the Report

After all parameters are set, click one of the two buttons at the bottom:

  • [Display Report]: To preview the financial statement directly on your screen.

  • [Export to MS Excel]: To download the report data in an Excel file format.

3. Report Content (Conceptual)

  • If you select 'Balance Sheet': The report will display the position of the company's Assets, Liabilities, and Equity on a specific date, with Assets = Liabilities + Equity.

  • If you select 'Income Statement': The report will display the total Revenues and Expenses over a period to generate the Net Income or Loss.

Tips & Important Notes

  • This is the pinnacle module of all accounting activities. The accuracy of this report reflects the accuracy of all data input throughout the entire ERP system.

  • Ensure all adjusting journal entries and the month-end closing process have been completed before generating the final financial statements from this module.

  • This report is the primary output of the accounting department, used by all stakeholders: management, investors, banks, and the government (taxes).

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