4. Reports Tab - General Ledger

 

The Financial Menu contains vital financial statements used for conducting fundamental business and accounting analysis

 

Financial Menu Reports include:

 

Used to prove the arithmetical accuracy of your accounting books by checking and comparing your debit and credit balances - Receive a consolidated list of all ledger balances with a click of a button

 

Prepare final accounts, locate any errors and determine your profitability and financial position with ease

 

Use the Trial Balance when preparing final accounts of the business - Preparation of your Profit and Loss Account and Balance Sheet is made possible because the Trial Balances brings all the balances of your various ledger accounts together

 

Win Accounting makes it easy for you to select a specific accounting month to print from - or select the "Annual" option to receive an overview of the entire accounting period

 

Save and export your Trial Balance for easy analysis and evaluation

 

Used the Balance Sheet to report your company's assets, liabilities and shareholders' equity at a specified point in time - This report is used alongside other vital financial statements for conducting fundamental business analysis

 

The Balance Sheet provides important financial ratios that can be used to detect important financial trends, allowing you to stay ahead of your competitors

 

For example, examine your liquidity ratio (your current assets divided by your current liabilities) and use the data to determine your company's ability to pay its current bills

 

Easily print and export the Balance Sheet Report, as well as the Notes to the Balances Sheet Report for a specific month, or for the entire accounting period using Win Accounting's General Ledger Reports

 

While the Balance Sheet Report provides a snapshot of your company's financials for a specific date, the Income Statement reports on company revenues and expenses for a particular period

 

The Income Statement Report typically focuses on four key items: revenues, expenses, gains and losses, breaking your data down until only net income remains

 

This offers you vital information and analysis regarding financial flexibility, risk, return on investment and the operating capabilities of your business

 

Easily print and export the Income Statement Report, as well as the Notes to the Income Statement Report for a specific month, or for the entire accounting period

 

Win Accounting also lets you print the above two reports with Budgets included to aid with more in-depth business analysis

 

 

Your Chart of Accounts (COA) is a financial organisational tool that provides a complete listing of every account and transaction in your accounting system

 

Win Accounting provides different formats and versions of the Chart of Accounts Report, all providing their own unique and specific analysis - Chart of Accounts Reports variations include:

 

 

 

Use the Chart Listing Report to receive a list of all your accounts, ordered by their Account Code

 

The Chart Listing (Alphabetically) will provide a list with all your accounts, ordered alphabetically by the Account Name / Account Description

 

These reports include the Account Type, Year to Date Balance, the Account Level and Account Column (how it appears in the Balance Sheet), whether the account is flagged as a Bank Account, and type of account that it is (either Data, Total or Heading)

 

 

To make analysis and reporting easier, use the Data Accounts Listing Report to receive a concise list of all your Data-Only accounts within your Chart of Accounts

 

(Data Accounts refer to Level 1 Accounts - Find more information about setting Account Levels & Columns

 

 

Use the Data Accounts and Budget/Forecast Summary Report to view a concise list of your Data Accounts, with Actual Balance, Budgeted Balance and Forecast Balance listed and Variances supplied

 

The Account Type and Account Totals are also listed within this report

 

 

Easily view a monthly breakdown of each account, pinpointing the monthly variances between your Budget Compositions, your Forecast Compositions as well as your Actual Compositions

 

Gain vital insight into your financial accounts and use the valuable data to better enhance the efficiency of them

 

 

The Detailed Postings Report contains all valuable information regarding every transaction within your General Ledger

 

The Report consists of the Balance Brought Forward, each Transaction, the Transaction Totals and the Closing Balance for every Data Account

 

Easily view the Transaction Reference, the Date of Transaction, the amount Debited/Credited, the Folio Numbers, the Batch Number and the Transaction Narration

 

Win Accounting's Report Filter Criteria makes it easy to hone in on specific accounts, Cost Centres and/or accounting periods, in order to gain the exact data and analysis that you're seeking

 

Choose to view All Accounts or only Active Accounts when selecting the Detailed Postings Report criteria

 

Easily save and export the Detailed Postings Report for quick and easy access

 

 

 

The Consolidated Journal Report provides the overall net effect of summed totals of all transactions for each unique account between a specific date range or accounting period

 

This makes it easier for you to keep track with the movements of each account and to analysis and use the data to better enhance and predict their performances

 

Easily save and export the Detailed Postings Report for quick and easy access

 

 

The Illegal Posting Report indicates whether there are any debits with a missing credit - or vice versa

 

Whether caused by an accounting error, or through the incorrect modification or deletion of an account, the Illegal Posting Report will identify any General Ledger Accounts that missing debits and/or credits

 

The Illegal Posting Report (as seen below) will identify all accounts with illegal postings, including the Account Code, Description, Type, Level, Column and Total, as well as indicate whether the account is set as a Bank Account

 

 

In the Report Example above, we see that there is illegal posting regarding the Bank Account. In this example, we see that the Account is listed as Level 2. We know, according to the General Ledger Account Levels, data can only be posted to a Level 1 account - This means that the Bank Account has been erroneously added or modified to be a Level 2 account, and thus cannot have data posted to it. One would have to visit the Chart of Accounts in the Maintenance Tab and modify the Bank Account back to a level 1 account in order to solve this Illegal Posting issue

 

Once all Illegal Posting errors have been solved, be sure to run the Recalculate Balances utility feature in order to ensure all account balances are up-to-date and accurate

 

 

The Cross Check Report provides a list of General Ledger Account Codes which have been referenced by the Transaction File, but no longer appear in the Master File Definitions

 

This means that the General Ledger scans through all posted transactions within your company database, ensuring that all the corresponding accounts and/or account codes exist, and are correctly setup, with the right account level defined

 

Keep in mind that only Level 1 Accounts can have data posted to them - see the Account Levels & Columns section for more details

 

The Cross Check Report works to ensure database integrity throughout your Win Accounting General Ledger module

 

If any accounts appear on this report, follow the 3-step instructions provided on the report:

 

1. Go on create / re-create the accounts in the master file again

2. Run the Recalculate Balances feature (found in the Utilities Menu)

3. Run the Cross Check Report again and analyse the results, there should be no accounts showing in this report

 

Speak to your Win Accounting Consultant or Sales Representative for more information about using the General Ledger Cross Check Report

 

 

Use the Cashbook Menu to find a selection of reports designed to improve the reporting and analysis of your various cashbooks

 

 

 

View all Debits and Credits for a specific Cashbook Account using the Combined Debits and Credits Report

 

Begin by selecting your desired month to print (or select "Annual" to view results for the entire accounting period), choose the Cashbook Account you wish to view debits and credits for, and click "Print" to view the report

 

The report breaks down each cashbook transaction for the selected period, providing the relevant Balance Brought Forward, Batch Numbers, Narration, Transaction Type, Reference, Date, Folio Number and the Transaction Amount Debited/Credited

 

Easily view debited and credited transaction totals, as well as the Closing Balance for the selected Cashbook Account

 

 

Keep track of all your reconciled and non-reconciled transactions and balances using the Reconciliation Report

 

Begin by selecting your desired month to print (or select "Annual" to view results for the entire accounting period), choose the Cashbook Account you wish to view and click "Print" to view the report

 

The report will break your cashbook transactions down into "Reconciled Items", listing relevant transactional information, as well as "Unreconciled Items", with all the relevant details attached

 

Easily view the Closing Reconciled Balance, as well as the Balance if all Transactions are Reconciled

 

Use this data and analysis to better enhance your business and accounting processes