You will need the Full Read Accounting permission to perform these actions.
The main report hub for accounting can be found by going to Accounting > Reports from the left-hand menu.
This screen is organized into different sections and contains various graphs and reports that can be run.
Many of the reports let you set which accounting method you want to report with:
Accrual - includes amounts not yet received/paid from your accounts payable and accounts receivable.
Cash - does not include accounts payable and accounts receivable in the report. Hence, this would only include current income and expenses (not future ones).
The rest of this article will go through each section in more detail.
Cash Flow
This widget shows your cash flow over time. There are two main views: Net Income and Cash Balance (togglable from the dropdown in the upper right). Clicking on the "Current cash balance" will open the current balance sheet. The time frame defaults to the last 6 months.
Net Income
Your income, expenses, and net income (green line) are displayed monthly over the given period. You can hover over a bar to see the numbers together and click on a bar to open up the appropriate Income statement report for that period.
Cash Balance
Shows the daily balance of all your cash accounts over time (i.e. assets with special usage set to Cash Account). Clicking on an individual data point will open the Income Statement report up to that day.
Accounts Payable and Receivable
This section contains a quick overview of total and past due amounts for both accounts payable and receivable.
Clicking on View All opens up Accounts Payable or Accounts Receivable, respectively.
Clicking on the amount itself will open up a pop up where you can record a payment.
Reports
Various important financial reports can be found in the Reports widget. Hover over the info icon to see a brief description of each one.
Each report is broken up into different sections. The top portion contains various filters that affect not only what is returned in the report, but also how it displays the data. Any changes to the filters will require you to click on the "Refresh" button.
The bottom portion contains the actual report. Normally, all amounts are clickable thereby letting you either drill down into the transactions that make up that amount (via the Transaction Listing report) or open the actual general ledger entry.
To download a PDF of the report (or export to CSV), use the cog menu in the upper right of the report area. There is a notes area at the bottom of the report you can enter text into that you also want to appear on the downloaded PDF/CSV.
Balance Sheet
Also known as a "statement of financial position," the balance sheet reveals your organization's assets, liabilities, and equity as of a single point in time. It is divided into two parts that must equal each other or balance each other out according to the formula: Assets = Liabilities + Equity.
The purpose of a balance sheet is to give an idea of your organization's financial position, in addition to displaying what the company owns and owes.
See this article for more information on working with account registers.
Income Statement
Also known as a "profit and loss statement," the income statement primarily focuses on your organization's income and expenses during a particular period. The main formula for this report is that your Net Income = Income - Expenses.
This report provides valuable insights into various aspects of your organization and its efficiency (or lack thereof) that may impact growth.
See this article for more information on entering transactions in the general ledger.
Transaction List
This report shows a listing of your register account transactions ordered by date. The filters allow you to focus on particular periods, accounts, funds, and more. Clicking on a transaction will open it up for editing assuming the user has the appropriate access level to do so.
General Ledger
This returns transactions for all accounts instead of only register accounts. This report is similar to the Transaction List report.
Expenses by Vendor Summary
This report aggregates expenses paid out to vendors over time. Clicking on an amount will open the Transaction List report filters for that vendor and period so you can see each transaction.
Trial Balance
This report is a bookkeeping worksheet where the balance of all accounts is compiled into debit and credit columns that, when summed separately, equal each other. The general purpose of a trial balance report is to ensure the entrees in the general ledger are mathematically correct.
See this article for more information on entering transactions in the general ledger.
Budget to Actual
This report compares your income, expenses, and net income to your budget for a specific period. It is very similar to the Income Statement report, except that it includes various comparisons to appropriate budgets from that period.
At least one budget will need to be defined first before this report returns useful data. See this article for more information on creating budgets.
Expense Breakdown
This area provides a high-level snapshot of your organizational expenses within a particular period. It defaults to the last 30 days.
Click on a pie wedge to open a Transaction List report showing all transactions that make up that portion of the pie.
