Your complete set of year-end statements on one screen: the Balance Sheet (Statement of Financial Position), the Profit & Loss, and the supporting schedules. They are built automatically from your posted vouchers.
When to use it
To see the company's financial position and performance for a fiscal year, for management review, audit or filing.
Before you start
- Vouchers for the year are entered and posted.
- Opening balances were entered (as opening-balance vouchers) when the books were set up.
- Your organization's fiscal-year start is set in Settings. The statement uses it to pick the correct year automatically.
Where to find it
Reports > Finance > Financial Statement.
The fields on this screen
| Field (on screen) | What to enter | Required |
|---|---|---|
| From Date | Within the fiscal year you want | No (see the note below) |
| To Date | The statement date (usually the year-end) | No (defaults apply) |
| Financial Set | Which statement template to use (default 1) | No |
Note on dates: the Financial Statement is a fiscal-year report. Whatever From Date you pick, it uses the start of the fiscal year that contains your To Date. That way the Balance Sheet always shows the correct position as of To Date, and it always balances. To see a different year, set To Date to that year's end date.
Reading the report
- Balance Sheet (Statement of Financial Position): assets on one side, equity and liabilities on the other. The two sides always total the same number. Figures are the position as of the To date.
- Profit & Loss: revenue, costs and expenses for the year, ending at Net Profit/(Loss). That same profit appears on the Balance Sheet as "Profit / (Loss) for the Year".
- Schedules (S1, S2, ...): the detail behind each Balance Sheet / P&L line.
Organizations
If you run under a specific organization, the statement is that organization's books, using that organization's own fiscal-year start. Choose "All organizations" to see the consolidated group statement.
Worked example
Run it with To Date set to the year-end. You get a Balance Sheet that balances (Total Assets equals Total Equity & Liabilities) and a Profit & Loss for the full year, with the year's profit carried into equity.
Tips and common mistakes
- You do not need to get From Date exactly right. The report anchors to the fiscal-year start for you.
- Only posted vouchers appear.
- If a Balance Sheet ever does not balance, a voucher line was usually posted without an account (no ledger). The Financial Set Audit view flags those as "Unmapped Ledger".
- The Statement of Cash Flow / Changes in Equity / Comprehensive Income tabs are placeholders here. Use the separate Cash Flow Statement report for cash flow.