Financial report is a formal record of all financial activities of a business.
You can simply generate financial reports from your TreezSoft account by navigating through: General Ledger > Financial Reports.
The explanation for each type of reports listed in TreezSoft cloud accounting software is as below:
General Ledger Listing
General ledger listing will show you all accounting records. This formal ledger contains all the financial accounts and statements of a business.
Trial Balance
A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit columns. A company prepares a trial balance periodically, usually at the end of every reporting period. The general purpose of producing a trial balance is to ensure the entries in a company's bookkeeping system are mathematically correct.
Profit and Loss Report
A financial statement that summarizes the revenues, costs and expenses incurred during a specific period of time - usually a fiscal quarter or year. These records provide information that shows the ability of a company to generate profit by increasing revenue and reducing costs.
Profit and Loss Report by Tag
Provides the same functions as above report, however able to compare between tag groups.
Balance Sheet
A financial statement that summarizes a company's assets, liabilities and shareholders' equity at a specific point in time. These three segments give investors an idea as to what the company owns and owes, as well as the amount invested by the shareholders.
Custom Reports
Custom reports allow you to generate and maintain customized P&L and Balance Sheet reports.
Realised Forex Gains and Losses
Realised forex gains/losses occur when a foreign currency is in used during your transaction with your customer or supplier.
The factor leading to the gains or losses is due to the daily fluctuations of foreign currency exchange rates.
A gain or loss is said to be “realised” once the payment is being made/received.
Unrealised Forex Gains and Losses
Unrealised forex gains/losses occur when a foreign currency is in used during your transaction with your customer or supplier.
The factor leading to the gains or losses is due to the daily fluctuations of foreign currency exchange rates.
A gain or loss is said to be still “unrealised” as the payment is still not yet made or received.
*Note: As TreezSoft Accounting is online accounting software, the financial reports and all other reports are always up-to-date as soon as the transactions are recorded. Therefore, you can be sure that the data you've retrieved are the latest figures.
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