Financial statements: income, balance sheet and cash flow
The statements come straight from the books, not from a separate report. Pick a period and see your real profit and financial position in the same second.
A detailed income statement
Net sales after returns, purchases after returns and trade discounts, cost of goods sold, expenses, and other income such as discounts received and staff penalties.
A balance sheet that always balances
Assets against liabilities and equity on any date: cash, banks, stock and receivables against suppliers, salaries payable and capital.
Compare and analyse
Compare a period with the one before, produce statements per cost center or branch, and export to Excel for your auditor or bank.
What you can do
- Income statement with net purchases
- Balance sheet
- Trial balance
- Cash flow statement
- Comparison with the previous period
- Excel export and printing
Frequently asked questions
Are the statements right without an accountant?
Yes, because they are built on balanced double entries for every document. An accountant reviews adjustments such as depreciation and accruals.
Can I run an income statement for one month?
Yes, for any date range or by fiscal year.
Where do discounts received appear?
Under other income, together with staff penalties, kept apart from sales revenue.
Related modules
Try Touch It ERP on your real work
Sign up in a minute and use every module free for 14 days, or message us for a walkthrough.