Reports Generated by Accounting Software

Turning entries into information

The real power of computerised accounting shows in its reports. Because every voucher is posted automatically, the software can produce complete, up-to-date books and statements at any moment, without any further calculation by the user. The main reports are:

• Day Book — a chronological list of every voucher entered on a given day (or period); the computerised form of the journal / book of original entry.
• Ledger — the full record of any single account, showing every debit and credit and the running balance (for example, one customer's complete account).
• Trial Balance — a list of all ledger balances with total debits and total credits, which must be equal. In computerised accounting it always tallies, because the software never mis-posts.
• Trading and Profit & Loss Account — shows gross profit and net profit for the period by bringing together income and expense ledgers.
• Balance Sheet — shows the financial position at a date, listing assets on one side and liabilities and capital on the other.
• Cash Book / Bank Book — the running record of cash and bank transactions and balances.
• Stock / Inventory reports — goods received, sold, and in hand, with values.
• Outstanding reports — amounts still receivable from customers (debtors) and payable to suppliers (creditors). …