All these reports are typically issued for the last day of each financial year or period. Let us look closely on each report:. All financial reports will appear in the Financials Reports menu which is found in the Financials module. You run the Balance Sheet up to a certain date, that is from the beginning of the company until that date. When you issue the report, the system runs the report on the account balances of the Balance Sheet accounts and summarizes their values according to the formula: Total Assets equals Total Liabilities plus Equity.
The equity section includes the profit period. This amount is calculated while the report is being composed, to represent the summary of the profit and loss of the period. Some examples of documents and their related accounts which affect the report are:. The report can comprise a particular cross section of accounts and business partners.
You can issue the report for a selected posting period or periods. If you include business partners in the report, those will be shown at the end, after the list of accounts. When you issue the report, for each account the system presents the total debit and credit amounts, and the ending balance which is calculated as the debit amount minus the credit amount.
For the entire report: if the trial balance includes all the accounts in a complete period, the debit and credit side totals must be equal. That is, the total report balance should be zero. Here is an example of a document and its related accounts which affect the trial balance report:.
The Profit and Loss Statement shows the profit or loss of your business for the fiscal year or the selected period. You run the report for a selected period. When you run the report, the system calculates the profit or the loss for the fiscal year or the selected period according to this calculation: The balances of the Expense accounts will be subtracted from the balances of the Revenue accounts. And here are some examples of documents and their related accounts which affect the report:.
Here is a question for those of you with accounting backgrounds:. How is the calculation balanced if the report considers only the Balance Sheet accounts? The profit or loss accumulator is included in the Balance Sheet report and will either increase or decrease the equity on the balance sheet. The Statement of Cash Flow is a legal document that is required by many localizations — just like the profit and loss and the balance sheet. You need to configure initial settings in the General Settings window and to set defaults for assigning transactions to relevant items in the Statement of Cash Flow.
For more details on how to configure the Statement of Cash Flow refer to the on-line help. The Cash Flow report is an internal management tool which is used to help the business manage its cash reserves and to anticipate future periods when it may need to borrow to cover a cash deficit.
Here are some key points to take away:. Debit, T0. Credit, T0. Business One. Browse pages. A t tachments 1 Page History. Dashboard Home Queries Landing Page. Jira links. Created by Navneet Dhami on Jun 10, AcctCode, T1. RefDate, T1. No labels. Balakumar Viswanathan. Permalink Sep 20, Thanks for sharing, but generates an error. Permalink Apr 24, Former Member. This query show good preview But it is showing error. Please look in to this query 1.
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