Report Spotlights: Accounting Reports
Seed System Solution has a wide variety of useful Accounting Reports, such as the ones that are outlined below.
Accounting Reports
Balance Sheet
A financial statement that shows a company’s assets, liabilities, and owner’s equity at a specific point in time.
- Balance Sheet Comparison
- Compares the current balance sheet to the same date of the year prior.
Profit and Loss (by Year)
Profit and Loss is a financial statement that summarizes a company’s revenues, expenses, and losses over a specific period of time in order to determine its overall profitability. This is shown through summarized totals for a date range.
- Profit and Loss by Month
- Broken down by month within the date range.
- Profit and Loss Comparison
- Summarized totals for a date range that compares totals for the previous year of a date range to the current year.
- Budget vs Actuals (Requires Setting up a Budget)
- A Profit and Loss report that compares the Budget totals entered to the actual balances in those accounts.
Trial Balance
An internal report that lists all of the General Ledger accounts and their balances at a specific point in time. The primary purpose of this report is to verify the mathematical accuracy of the Ledger by ensuring that the total of all debit balances equals the total of all credit balances, which is a key principle of double-entry accounting.
General Ledger
The General Ledger report has additional filtering capabilities in order to drill down the report further and look at specific accounts, vendors, or transaction types.
- General Ledger Summary
- General Ledger Detail
- Once on the General Ledger Detail, individual transactions can be viewed by clicking on the transaction number.
Chart of Accounts
A list of all accounting reports can be viewed under Menu – Lists – Chart of Accounts. New accounts can be setup by going to Menu – System Settings – Chart of Accounts. In the list of accounts, scroll to the bottom of the portal to find a new data entry line.
Additional Information
Most of these reports will require an As Of date or a start and end date to be selected in the filters.
Almost all of these reports are summary reports. You can view the detail by selecting the Information icon on the left side of the report.
Accounting Flow Document
Below is a link to our Standard Accounting Flow using received PO price and one using Standard Cost setup on the product.
This document will show how each of the transaction types affects the General Ledger. Some procedural differences may be seen based on custom programming written.
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