Financial Statements and Account Balances

What are they and what are they for?

All of these reports live under the same Financial Statements menu and share the same filters and calculation engine; only the way they group and present the information changes. In general terms:

How to use it

1. Choose the report. Go to the Financial Statements menu and pick the one you need (Balance Sheet, Profit & Loss, Trial Balance, or one of the Balances reports). Inside each screen, the top row of links lets you switch between its variants (by classification, comparative, by parent account, etc.) without leaving the screen.
2. Select your filters. Enter the cutoff date or date range (depending on the report), and optionally the Subsidiary, Location, Department, Division or Item Class if your company uses them as a profit center (see the filters section below).
3. Generate the report. Click Refresh to calculate the report with the chosen filters. The result recalculates without a full page reload.
4. Drill into an account. On most reports, the account name takes you to its card, and the amount is a link to that account's movement detail for the same period and filters you were using in the report. On the by-dimension variants (by Department, Location, Class, Division or Subsidiary), each column's amount opens the movements for that specific column, while the Total column's amount opens the movements for all the displayed columns, honoring the dimension filter if you left one selected above.
5. Print or export. Use the Print button to get a PDF/paper-ready version (it automatically hides the filters and buttons).

Balance Sheet

Shows your Assets, Liabilities and Equity as of a cutoff date. It is available in these variants, all reachable from the screen's top links:

• By Classification: groups accounts by their standard General Ledger account class.
• By Classification (comparative): compares two different periods (month/year) side by side.
• By Classification (compact): a condensed comparative version, meant to print on less space.
• By Parent Account and By Parent Account (comparative): group and total by parent account instead of by classification. Only shown if your system edition supports parent accounts (account hierarchy).

In addition to the common filters, this report offers these options:

• Show Foreign Currency Amounts: adds a column with each account's balance in its original foreign currency, alongside the converted amount.
• Automatically Adjust Prior Years' Results: when on, reclassifies the current fiscal year's result as "Prior Years' Results" once it's closed; when off, both amounts show combined under Equity.
• Show Account Full Name: displays the account's full name/code instead of the short name.
• Hide/Round Decimals: shows amounts as whole numbers, with no decimals.

Profit & Loss Statement

Shows your revenue, costs and expenses for a period, and the resulting profit or loss. Available variants:

• Standard: the profit & loss statement for the period you choose (month, quarter, year, or a free date range).
• By Department / Division / Location / Item Class / Subsidiary: splits the same result across that dimension, useful to see which area generated each revenue or expense.
• Comparative: compares two different date ranges side by side.
• Comparative Detailed, Period Detailed and Year Detailed: the same screen with a different starting configuration; they show the month-by-month (or period-by-period) detail of each account, including the current month and the same month a year earlier.
• Profit & Loss by Month: lays out the fiscal periods of the selected year as columns, one row per account, to see the monthly trend. Use Period From and Period To to narrow the report to a range of periods: each column header, the detail shown when hovering over an amount and the link to the movements always match that column's period.
• Consolidated: adds up the Profit & Loss of up to 4 different companies for the same user, converted to a single currency (see Multi-Company Consolidation below).

Anomaly detection (Profit & Loss by Month only)

On the Profit & Loss by Month variant you can turn on Analyze Anomalies: AdmCloud checks each account and flags the months whose amount falls outside that account's usual pattern.

• Only accounts marked to be included in the anomaly analysis are checked (you can include or exclude all expense accounts, or mark them one by one), unless you're looking at one specific account.
• It's only useful on accounts with a standard monthly pattern (a recurring expense, for example); it adds little value on accounts that are naturally irregular.
• Only months that have already elapsed in the year (based on your fiscal year) are compared — not future months.

Accounts that expect monthly movement

Any ledger account can be marked with This account expects transactions every month (on the account record). When an account is marked this way, the Profit & Loss statements treat a missing movement as something worth your attention:

• The account always appears in the Standard, Comparative, Comparative/Period/Year Detailed and Profit & Loss by Month statements — even if it never received a movement — showing a zero, so it is never silently omitted just because it is empty.
• Its amount is highlighted in yellow for any period that has already elapsed and ended in zero, signalling that a movement was expected but none was recorded (hover the cell to see the explanation).
• Only periods already in the past are highlighted — the current or future period is never flagged, since its movement may still be recorded.

Trial Balance

Lists every account with its opening balance for the period, its debit and credit movements during the period, and its closing balance; it's the report your accountant typically uses to tie out the books before preparing the formal financial statements.

• By month and by year: the same report, calculated over the chosen month or over the entire fiscal year.
• By Parent Account: groups balances by parent account instead of listing every child account separately.
• Consolidated: adds up the trial balance of up to 4 different companies, converted to a single currency.

Account Balances

This group of reports shows your ledger account balances as of a date (or over a full year), grouped in different ways, so you can analyze where a balance comes from without opening the full Balance Sheet:

• Accounts With Balance: a simple list of every account with a non-zero balance as of a cutoff date.
• Balances by Month: each account's balance at the close of every one of the 12 months in the chosen year.
• Balances by Division / Department / Location / Item Class / Subsidiary: each account's balance split across that dimension, as of a cutoff date.

Available filters

All filters are optional (except Subsidiary in the scenario noted above) and can be combined with each other.

Required subsidiary selection in multi-currency sessions

Multi-company consolidation

The Consolidated variants of the Profit & Loss and Trial Balance let you add up the results or balances of up to 4 different AdmCloud companies into a single report, converting each one to a single currency using the exchange rate you enter.

• You can only pick companies where your user has the Administrator role in the user group.
• Each company is first consolidated internally (across its own subsidiaries) and then converted to the reporting currency using the given exchange rate.

Custom Financial Statements Beta feature

If your company has the (still Beta) Custom Financial Statements feature enabled, you'll see extra links on the Balance Sheet and Profit & Loss screens that let you generate your own variants: reports with your own account order, groupings and custom totals, defined ahead of time on the Custom Financial Statements screen. This feature must be turned on through your company's feature settings; if you don't see it available, contact AdmCloud support.

Availability and permissions

• Access to all of these reports is controlled by the same "Journal Entries" permission on the user group: anyone who can view the general journal can view these financial statements.
• The Location, Department, Item Class and Division filters only appear if your company has them enabled as a profit center in Preferences.
• The "By Parent Account" variants are only available in system editions that support parent accounts (account hierarchy).
• Consolidated reports require the Administrator role on the companies being consolidated.

Tips and common pitfalls