Statements that always agree.
Profit and loss, balance sheet and budgets, all built from the same posted entries. None of the numbers are copied across by hand, so one statement can never disagree with another.
Profit and loss, balance sheet and budget variance are readings of the same journals. There is no second set of numbers to reconcile them against.
The three statements
Profit and loss, balance sheet, budget.
The profit and loss covers any date range you choose. The balance sheet shows your position at a single date. Budgets compare what you planned with what actually happened, account by account. Pick one to see what it shows.
Income statement for the period.
What you earned and what you spent over the period, built from posted journal entries on revenue and expense accounts. Drafts are excluded. Net income is revenue minus expenses and rolls into equity on the balance sheet.
| Revenue | ||
| 4000 | Service Revenue | 412,760.00 |
| 4100 | Recurring Support Revenue | 96,400.00 |
| Total revenue | 509,160.00 | |
| Expenses | ||
| 5100 | Salaries and Wages | 274,300.00 |
| 5200 | Software Subscriptions | 18,940.00 |
| 5400 | Travel and Subsistence | 13,200.00 |
| 5600 | Rent and Utilities | 54,000.00 |
| Total expenses | 360,440.00 | |
This figure is the equity movement on the balance sheet. It is not copied there.
Nothing is ever copied by hand between statements.
How the three connect
From invoice to statement in four steps.
This is the whole process. There is no export, no month-end assembly and no spreadsheet anywhere in it.
- 1Everyday work posts journals
You send an invoice, receive a payment or approve an expense. Each one posts a journal to the account you mapped it to.
- 2The profit and loss adds up revenue and expenses
For any date range, using posted entries only. Drafts are left out, so an unfinished entry never changes the numbers.
- 3Net income flows into the balance sheet
Nobody copies it across. The balance sheet works it out from the same entries, which is why the two statements cannot disagree.
- 4Budgets compare plan with actual
The actual figure comes straight from the ledger. Nobody maintains a separate spend total on the side.
Pick any date and the statement rebuilds itself.
Statements are worked out fresh from your entries every time, so there is no month-end report to wait for.
- See your balance sheet at any date, not just month end
- Run a profit and loss for any date range, not just calendar months
- Keep drafts out of the figures until they are posted
- Export any statement exactly as it appears on screen
- Open a closed month next quarter and see exactly the same numbers
Set budgets and compare them with real spend.
Actual spend comes straight from your books, so there is no spreadsheet to keep up to date.
- Set a budget for any account, by quarter or fiscal year
- Compare against what actually posted, not an estimate
- See the variance for each account, not just a company total
- Spot an overspend while the quarter is still running
- Budget the same accounts your invoices and expenses post to
Empty states
If a month has no activity, the screen says so.
If nothing has been posted in a period, the screen says so plainly instead of showing a page of zeros. You will never mistake a month with no activity for a month that genuinely nets to zero.
Access
Who can do what.
These screens are mostly for viewing. The real decision is who can see the whole company's position, and who only sees their own department's spend.
View the statements for any date or period.
Export them, and change the date range.
Set budgets by account, quarter and fiscal year.
Decide who can see the company's position at all.
Admin is the highest role and is not constrained by the permission grid, so it is worth keeping to the smallest group that genuinely needs it.