Financial Reporting Overview
Financial reporting is a key component in business management. The
general ledger chart of accounts contain a summary of the financial activity
of the company or profit center. The financial transactions contain
the details to verify the summaries created within the financial module.
Evaluation ERP Support Training
Main Financial Management Reports
The three main reports that summarize the financial activity of the
business are listed below:
- Balance sheet: Lists the assets (what the company owns),
liabilities (what the company owes), and the capital (owner's equity).
Review Balance Sheet for balance
- Profit and loss/income statement: This report summaries the
company's revenue, cost of sales, and expenses. Review Profit
and Loss for more details including examples.
- Cash flow statement: Reports the amount of cash and cash
equivalents that is entering and leaving the company. Review
Cash Flow Statement for more information
Other Financial Reports
EBMS contains many other financial reporting tools as listed below:
Monthly and Quarterly Reports
Year end Reports