11.10. General Ledger Reports Menu
This menu leads to all the standard general ledger reports and the report writer that allows you to create your own G/L reports.
Three customisable reports have been included in Equity. These are the Profit & Loss Report, Balance Sheet and Budget Report. These are automatically updated when you add accounts to your Chart of Accounts. It should be noted that Equity places new accounts within these reports by account number. If you find an account is in the wrong place when you print a report you can easily change it. Refer to page Custom G/L Report Formats in this section for more information on report formatting. New reports can be created by using the Equity report writing facility.
Note: Any report can be re-directed to the screen, an ASCII file or any printer on line by pressing [F3] and selecting from the pop-up list.
11.10.1. Chart of Accounts
This report lists all the accounts in Account code sequence. You can print them with or without balances and is mainly used for reference and cannot be edited.
11.10.2. Trial Balance
Lists all accounts excepting the profit/loss account with the current debit or credit balance. This can be used as a quick check to see if the General Ledger is in balance.
11.10.3. Profit & Loss Statement
This report gives a summary of your company's profit or loss for the month and year. It basically sums up the revenue and expense account balances and subtracts the expenses from the revenue to give you a bottom-line profit or loss figure. It also displays last years figures for month and year, but makes no comparison on these.
11.10.4. Balance Sheet
This report is a snap-shot of the financial condition of your company at present. It lists Assets, Liabilities and Capital account balances.
Note : Total Assets = Total Liabilities + Total Capital
11.10.5. Budget Report
To reap the full benefits of this report, all expense and revenue accounts should have budgets entered for each month. You may enter a time period for the report (i.e. start and end date) as long as the start date is the first of a month and the end date is the last date in a month, or you may opt to print the report for the current month.
The report lists balances for the specified period and the year to the end of the period, and makes comparisons between actual and budget figures. Variances and percentages are printed. This is a valuable report if your business is budgeted as it gives a direct account of how well you are staying within budget.
11.10.6. Transaction Report
This enables you to list all transactions to and from the General Ledger. You can list any month or group of months, or the whole year. The list is printed out in Audit Trail sequence and may be used by your accountant.
11.10.7. General Ledger Report
This report lists all transactions for accounts within the selected date and account ranges in date order, including opening and closing balances.
11.10.8. BAS Report
This report lists all the required fields to complete the current BAS statement.