# 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)**.