Reports: Trial Balance, Profit and Loss, Balance Sheet

Trial Balance, profit and loss and balance sheet help business owners make informed decisions. They use these reports to reduce expenses and increase profits.

Trial Balance Report

Trial Balance is a list of closing balances of groups and ledger accounts. If all accounting entries have been recorded correctly, the total of all debit balances will be equal to the sum of all credit balances in the Trial Balances.

Grand Total: It shows the Opening, Debit, Credit and Closing Balances associated with the groups and accounts. For the Trial Balance to be

 Expand: You can click on any row to see its data to one level below it.

Date Range

You can filter Trial Balance by a date range or a financial year (as set for the company). Here are more details:

Date Range: To filter data by date range, do the following:

  1. Click on the Date Range field and from the two options that appear on screen, select Date Range.
  2. Now, a calendar icon along with a date range appears on screen. Click on either of them.
  3. These options include Last 1 day, Last 7 days, Last 30 days, Last six months, Last 1 year and other options. You can even define a custom date range. If you choose the Custom Range option, a calendar with dates for two months appear on screen. Use their arrow keys to move between months and select the start date and the end date. The older date that you pick in the calendar will be considered the start date.
  4. The data in the Trial Balance report filters accordingly. 

Financial Year: To filter data by a financial year, do the following:

  1. Click on the Date Range field and from the two options that appear on screen, select Financial Year.
  2. Now, the Select Option field appears on screen. Click on it.
  3. A list of financial years appears on screen; choose one from them.
  4. The data in the Trial Balance report filters accordingly.  


Filter by Tags

The ‘Select Tag’ option allows you to filter information in the Trial Balance by tags. Click on the Select Tag button and pick a tag from the dropdown. The associated information is displayed in the Trial Balance table. 

Tags are attached to entries to enable the filtering of information later. When generating reports, tags can be used to retrieve selected information. These are created from the Company Settings section.


Expand the entries

Click on an entry in the Trial Balance table to see its details. To expand details of all the entries simultaneously in the Trial Balance report, click on the Expand All () button given at the top of the grid. All the entries are expanded to their last account. To restore the default view, simply click on the Collapse All () button which appears in place of the Expand All button.


Color Code

The basic types of accounts on Giddh are color-coded in the Trial Balance report. Since businesses may have an overwhelming amount of information under the accounts, they have been color-coded to make their understanding easier. Here are the colors and their associated accounts:

  • Green = Liabilities
  • Yellow = Assets
  • Blue = Income
  • Red = Expenses


Reload Data

At the top right corner of the Trial Balance table, an option for reloading the information is available.

Clicking on the Reload Data option updates the entries displayed in the Trial Balance according to the latest changes made by other users on the portal. The feature is useful when you are viewing the information in the report, and somebody else makes changes to an entry in it or at a related place. Clicking on the Reload Data button updates the complete information without your having to leave the page.


Download (PDF / Excel / CSV)

At the top right corner of the Trial Balance table, options for downloading the information in many formats (PDF, CSV, and Excel) and according to their details are available.

PDF / CSV

Click on either the PDF icon or the CSV icon to download information as per the set date range or financial year in PDF or CSV (comma-separated value) format. The downloaded information contains account or group name, their unique name, opening balance, closing balance, debit total and credit total according to the following categories:

  • Groupwise: Choosing this option will download collective information according to level one (topmost hierarchy) groups only. Break up of further information can be seen in other detailed reports.
  • Condensed: Choosing this option will download information of all the groups and accounts according to their hierarchy.
  • Account-wise: Shows information for all individual accounts (does not show information about groups).


Excel

Click on the Excel icon to download information as per the set date range or financial year in Excel format. The downloaded information contains account or group name, their unique name, opening balance, closing balance, debit total and credit total according to the following groups and accounts:

  • Main Group: It contains collective information according to level one (topmost hierarchy) groups only. Break up of further information can be seen in other detailed reports.
  • All Groups: Shows information according to all the main groups and sub-groups (of all hierarchies).
  • All Accounts: Shows information for all individual accounts (does not show information about groups).
  • Complete Report: Information of all the groups and accounts according to their hierarchy.


Profit and Loss Report

The profit and loss statement (P&L) is the financial statement that summarizes the revenues, costs and expenses incurred during a specified period of time, usually a financial quarter or year. It also records any expenses or costs incurred by these revenues, such as depreciation and taxes. It shows the following information:

Gross Profit: It is the difference between the selling price and the production cost. However, this is not indicative of the actual profit.

Operating Profit / Loss (EBIT): These are the earnings or losses before interest and taxes.

Income Before Taxes (EBT): These are the earnings before taxes.

Date Range

You can filter Profit and Loss report by a date range or a financial year (as set for the company). Both the options are explained below:

Date Range: To filter data by date range, do the following:

  1. Click on the Date Range field and from the two options that appear on screen, select Date Range.
  2. Now, a calendar icon along with a date range appears on screen. Click on either of them.
  3. These options include Last 1 day, Last 7 days, Last 30 days, Last six months, Last 1 year and other options. You can even define a custom date range. If you choose the Custom Range option, a calendar with dates for two months appear on screen. Use their arrow keys to move between months and select the start date and the end date. The older date that you pick in the calendar will be considered the start date.
  4. The data in the Profit and Loss report filters accordingly. 

Financial Year: To filter data by a financial year, do the following:

  1. Click on the Date Range field and from the two options that appear on screen, select Financial Year.
  2. Now, the Select Option field appears on screen. Click on it.
  3. A list of financial years appears on screen; choose one from them.
  4. The data in the Profit and Loss report filters accordingly.  


Filter by Tags

The ‘Select Tag’ option allows you to filter information in the Profit & Loss report by tags. Click on the Select Tag button and pick a tag from the dropdown. The associated information is displayed in the Profit & Loss report table. 

Tags are attached to entries to enable the filtering of information later. When generating reports, tags can be used to retrieve selected information. These are created from the Company Settings section.


Expand the entries

Click on an entry in the Profit and Loss table to see its details. To expand details of all the entries simultaneously in the Profit and Loss report, click on the Expand All () button given at the top of the grid. All the entries are expanded to their last account. To restore the default view, simply click on the Collapse All () button which appears in place of the Expand All button.


Reload Data

At the top right corner of the Profit & Loss table, an option for reloading the information is available.

Clicking on the Reload Data option updates the entries displayed in the Profit & Loss table according to the latest changes made by other users on the portal. The feature is useful when you are viewing the information in the report, and somebody else makes changes to an entry in it or at a related place. Clicking on the Reload Data button updates the complete information without your having to leave the page.


Download Data in Excel

Click on the Excel icon to download information as per the set date range or financial year in Excel format. The downloaded file contains information about Gross Profit, Operating Profit / Loss (EBIT) and Income Before Taxes (EBT).  


Balance Sheet Report

A balance sheet gives a clear snapshot of a company’s assets (what it owns) and its equity and liabilities at any given time or period.

Date Range

You can filter the Balance Sheet by a date range or a financial year (as set for the company). Here are more details:

Date Range: To filter data by date range, do the following:

  1. Click on the Date Range field and from the two options that appear on screen, select Date Range.
  2. Now, a calendar icon along with a date range appears on screen. Click on either of them.
  3. These options include Last 1 day, Last 7 days, Last 30 days, Last six months, Last 1 year and other options. You can even define a custom date range. If you choose the Custom Range option, a calendar with dates for two months appear on screen. Use their arrow keys to move between months and select the start date and the end date. The older date that you pick in the calendar will be considered the start date.
  4. The data in the Balance Sheet report filters accordingly. 

Financial Year: To filter data by a financial year, do the following:

  1. Click on the Date Range field and from the two options that appear on screen, select Financial Year.
  2. Now, the Select Option field appears on screen. Click on it.
  3. A list of financial years appears on screen; choose one from them.
  4. The data in the Balance Sheet report filters accordingly.  


Filter by Tags

The ‘Select Tag’ option allows you to filter information in the Balance Sheet by tags. Click on the Select Tag button and pick a tag from the dropdown. The associated information is displayed in the Balance Sheet table. 

Tags are attached to entries to enable the filtering of information later. When generating reports, tags can be used to retrieve selected information. These are created from the Company Settings section.


Expand the entries

Click on an entry in the Balance Sheet table to see its details. To expand details of all the entries simultaneously in the Balance Sheet report, click on the Expand All () button given at the top of the grid. All the entries are expanded to their last account. To restore the default view, simply click on the Collapse All () button which appears in place of the Expand All button.


Reload Data

At the top right corner of the Balance Sheet table, an option for reloading the information is available.

Clicking on the Reload Data option updates the entries displayed in the Balance Sheet table according to the latest changes made by other users on the portal. The feature is useful when you are viewing the information in the report, and somebody else makes changes to an entry in it or at a related place. Clicking on the Reload Data button updates the complete information without your having to leave the page.


Download Data in Excel

Click on the Excel icon to download information as per the set date range or financial year in Excel format. The downloaded file contains information about Equity and Liabilities and Assets.  


Headings