Financial statements
Four accounting statements are available on the Reports screen. They are read directly from your organisation's accounts, which are updated automatically every time staff record a loan, collection, fee, savings movement, bank deposit or expense.
Open a statement
- Open Reports.
- In Report Type, choose Trial Balance, Profit & Loss (Income Statement), Balance Sheet or GL Account Statement.
- Set the dates:
- Trial Balance and Balance Sheet show the position at the end of the End Date. The Start Date is ignored.
- Profit & Loss and GL Account Statement cover Start Date to End Date, both days included.
- Click Apply.
Each statement has Print and Export CSV buttons. Use Print (and "Save as PDF") to keep a copy: the money columns in the CSV files do not currently contain readable amounts.
Accounts are shown with their code and name, for example "1100" and "Cash / Mobile Money". See How the books work for what the account groups mean.
Trial Balance
A list of every account with the total Debits, total Credits and the Balance, up to the chosen date. The Totals row adds up all debits and all credits.
At the top, a tag shows Balanced (green) when total debits equal total credits, or Out of balance (red) when they do not. Because every transaction is recorded with equal debits and credits, the trial balance should always show Balanced. If it ever shows Out of balance, report it to your administrator.
Profit & Loss (Income Statement)
What the organisation earned and spent over the period.
- Three cards: Total Income, Total Expense and Net Profit. Net Profit is shown in red when it is a loss.
- Income - one line per income account, for example interest earned on loans, penalty income and each type of fee income, with a total.
- Expenses - one line per expense account, for example interest paid on savings and operating expenses, with a total.
- Net Profit - income minus expenses.
If a section had no activity in the period it shows "No activity in this period."
Balance Sheet
What the organisation owns and owes at the end of the End Date.
- Assets - for example cash, money in the bank, loans owed by borrowers, and fees owed by clients.
- Liabilities - mainly Savings Payable, the money the organisation holds on behalf of savers.
- Equity - the owners' capital plus a Retained Earnings / Accumulated Surplus (computed) line. Retained earnings is all profit made to date. It is calculated for the statement rather than recorded as transactions, which is why it is marked "(computed)".
The bottom of the page compares Total Assets with Total Liabilities + Equity. A tag at the top shows Balanced when the two match, or Out of balance with the difference when they do not.
GL Account Statement
Every entry on a single account over the period, like a bank statement for that account.
- Choose GL Account Statement and your dates, then click Apply.
- In GL Account, pick the account. The list shows each account's code and name. Until you pick one you see "Select a GL account to view its statement."
- The statement shows:
- Opening balance at the start of the period.
- One row per entry: Date, Description, Reference, Debit, Credit and the running Balance.
- Closing balance at the end of the period.
Useful accounts to look at:
| To see | Pick |
|---|---|
| Cash movements over several days | Cash / Mobile Money |
| Bank deposits | Bank |
| Every savings deposit, withdrawal, contribution, payout and interest credit | Savings Payable |
| Loan disbursements and principal repaid | Loan Receivable |
| Operating expenses recorded on the Cash Management screen | Other operating expense |
What is not available
The following are not part of the product today: a cash flow statement, loan-loss provisioning, manual journal entries, a journal entry list, closing an accounting period, and comparison of one period against another. If you need these, keep them in your existing accounting tools.