What are our standard reports?

27.09.21 10:14 AM By Stephanie Nightingale

Our integrated report set: Profit and Loss, Balance Sheet, Cashflow and Funds Flow

Forecast 5 provides you with the standard financial reports that you need to run your business successfully! The main four are Profit and Loss, Balance Sheet, Cashflow and Funds Flow. These are all built-in and run at the click of a button!

Maintaining accurate company records, reporting, and filing financial statements are a legal requirement for most organisations and in most countries.  And they are a useful preparation tool in a variety of events, such as, being audited or needing a bank loan.  

Notably, all of Forecast 5 reports are insightful with showing various movements of your organisation which is not only helpful in the instances mentioned above but it enables you to make concise decisions, to continue as an organisation, and plan for the future.
See an example of the One Touch Report
Understanding these reports is critical to your businesses success so we have put together a brief outline of our standard reports and included some examples so you can see the expected output.  Also, all standard reports are printable, can export them out to clipboard and paste into Excel and run to our One Touch Reporting.

Profit and Loss Report

The Profit and Loss is an income statement of a company that shows the revenue and expenses for a particular period.  It reveals how the revenues are converted into the net income or net profit. 

It shows you if you are making a profit or how much you are losing. You can use your P&L to help establish future sales targets and pricing increases or decreases  for your goods and services. 

See an example of a P&L Report

Balance Sheet Report

A balance sheet is a summary of your organisation or individuals’ financial balances.  It provides a statement of their assets and liabilities and shareholder’s equity,  therefore the net worth equity belonging to them,  at a point in time.  (whereas the P&L gives you information over a period of time).  The Balance sheet must balance based on the accounting equation:  Assets=Liabilities + shareholder’s Equity. 
Resulting in what a company or individual owns and owes. 

See an example of a Balance Sheet

Cashflow Report

The cashflow reports the movement of cash payments and receipts through your bank account or all bank accounts.  All receipts are reported based on the date set in the receipts on each record and the same for payments of expenses.

Capital item tax and dividends are all records to give you when combined with the opening bank balance the projected funds flow and closing bank figure.

See an example of a Cashflow

Funds Flow Report

The advantage of a funds flow importantly helps you analyse the reasons for changes in the financial position of your company between balance sheets.  For a particular period, it portrays the inflow and outflow of funds, as measured by movement in the balance sheet records e.g., debtors increasing is a use of funds, while creditors increasing is a source of funds.

Reporting any changes in your company’s working capital, or differences between assets and liabilities.  For instance, you can identify any activity that might be out of character for the company such as an irregular expense. Or helps answer the questions – Where have the profits gone? You maybe thinking it is likened to the Cash Flow, however,  a cashflow will record a company’s inflow and outflow of actual cash and equivalents, whereas funds flow records the movement of the cash only in and out of the company.  Funds Flow is great for long-term financial planning, where as Cash flow is suited to gauge your company’s liquidity profile. 

The total cash inflow for the period of the Funds Flow Report should equal the net cash flow reported on the Cashflow Report. 
Now you can trust your numbers the P&L, Balance Sheet Reports validate each other the same as the Cashflow and Funds Flow validate the movement of money. 

See an example of a Funds Flow