GL Financial Statements
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This post is for small to mid-sized companies who are vetting general ledger accounting software. We hope you find it useful.
Passport Software’s comprehensive general ledger solution categorizes and summarizes your accounting data providing comprehensive information for financial analysis and control.
A general ledger financial statement provides data about your company’s cash flow in the form of balance sheets, income statements, and cash flow statements.
Balance sheets indicate what the company owns at a given point in time, income statements show profits and expenditures, and cash flow statements track the flow of money over a period of time.
Balance Sheets
Balance sheets provide data about a company’s liabilities and assets including property, equipment, inventory as well as cash.
Liabilities include varies types of owed money such as rent, money owed to suppliers, payroll expenditures, taxes due, and bank loans to be repaid.
A company’s balance sheet tallies assets and liabilities over a specified reporting period.
Revenue
An income statement reports revenue earned during a specific time period including costs and expenses.
Income includes money from sales of products/services and gross revenue that has not yet had expenses deducted.
Net revenue is the total after expenses which may include various operating expenses, the cost of producing products or services, taxes and other expenditures.
Cash Flow
Cash flow statements vary over time and help you have enough cash on hand to run operations. This report may provide data for operating, investing, and financing activities.
A cash flow statement shows net income, losses, and other operating liabilities – this report includes expenses for machinery purchased, equipment depreciations, taxes, investment profits, and bank loan payments.
Passport Software
Our general ledger module is part of a suite of accounting modules that provide a powerful and affordable accounting solution.
Unlike entry level software, our general ledger accounting software is a professional level solution with sophisticated features that provide comprehensive reporting.
Our GL accounting software generates custom designed financial statements that show profit or loss, assets, liabilities, and equity.
Passport Software’s general ledger software helps you get the business intelligence you need to make better decisions for your company.
Call 800-969-7900 to learn more – or Contact Us. We are here to help.