The Statements area of the Finance app holds fifteen statement screens, every one derived live from the posted ledger the moment you open it. There is no refresh step and no saved copy to go stale: post a journal and every statement reflects it. This page lists each screen and the question it answers.
How the statements work
- Live queries. A statement is computed from posted journals plus each GL account's statement classification (see Chart of accounts). Reclassify an account and the statements move with it.
- Flow versus balance. Flow statements (P&L, Cash Flow) report over a from–to window; balance statements (Balance Sheet, Trial Balance) report as of a single date. The date controls on each screen match its kind.
- Dimensions. Filter by branch or business unit for a division-wise view — or clear the filter for the consolidated one. Same ledger, different filter.
- Publish to snapshot. Because statements are live, a statement you have filed or circulated can be published — a published statement is snapshotted as-at that moment and is not altered by later reclassification.
The statement screens
| Statement | What it answers |
|---|---|
| Profit and Loss | Income against expense for a period, with the prior period alongside — did we make money, and where? |
| Profit and Loss (Schedule III) | The same result in the Indian statutory Schedule III layout, ready for filing and board packs |
| Horizontal Profit and Loss | The T-form presentation — income and expenditure side by side |
| Balance Sheet | Assets against equity and liabilities as of a date — what do we own and owe? |
| Balance Sheet (Schedule III) | The statutory Schedule III presentation of the same position |
| Horizontal Balance Sheet | The T-form presentation — assets on one side, equity and liabilities on the other |
| Trial Balance | Every account's debit and credit balance; total debits must equal total credits — the first thing to check when anything looks wrong |
| Changes in Equity | How equity moved over the year — capital, reserves and retained earnings |
| Cash Flow | Where cash came from and went, indirect method, reconciling to the change in cash |
| Fund Flow | Sources and applications of funds between two balance-sheet dates — the working-capital view of the same story |
| Budget vs Actual | Budgeted against posted actuals per account, with the variance (see Budgets) |
| Financial Ratios | Liquidity, solvency, profitability and efficiency ratios, computed from the ledger |
| Risk Ratios | The company's financial risk — liquidity stress, leverage, debt-servicing capacity, cash-flow adequacy |
| Financial Projection | A forward-looking income statement built from the projection assumptions maintained in Settings |
| Inventory Valuation Statement | Inventory value and movement, tying stock to the inventory control account |
Reading the statutory layouts
The Schedule III screens place each account by its Schedule III classification, so their correctness is a classification question, not a formatting one. An account showing up under the wrong head — or not at all — means its classification needs correcting in the chart of accounts; the statement will be right the moment the account is.
Common questions
Why did a statement change since I last looked?
Because the ledger did. Statements are computed live from posted journals, so any posting into the window you are viewing — a backdated document, a reversal, a depreciation run — moves the figures. When you need a figure that holds still, publish the statement: the published snapshot is fixed as of that moment.
What is the difference between the P&L and the Schedule III P&L?
The numbers are the same; the arrangement differs. The standard P&L groups by account type for management reading; the Schedule III screen arranges the identical ledger into the statutory format prescribed for Indian companies. Use whichever the audience expects — they cannot disagree with each other.
Why doesn't my Trial Balance balance?
A posted ledger always balances, so an unbalanced TB means the view is cut short — most often a dimension filter that catches one side of journals whose lines carry inconsistent branch or business-unit stamps. Clear the filters; if the full TB balances, the fix is stamping dimensions consistently on journal lines.