Financial Statements
Financial statements are standardized accounting records that are required by the relevant laws for businesses to be prepared as a result of the periodic activities of a business and show the performance of the business. They are balance sheet, income-expense statement, cost of goods sold, profit distribution, fund and cash flow statements.
In other words; It is summary information showing the financial situation of the company within a certain period, including all information such as what the business buys, sells, debts, receivables, income, expenses, profit, loss, stock, waste.
It is very important for today's businesses that financial statements are regular, fast and transparent. Public audit, internal audit and relations with credit institutions are maintained through financial statements. Financial statements should also provide meaningful information to managers so they can make the right decisions. Essentially, financial statements are the result. The accuracy of financial statements depends on the fact that the charts of accounts are opened correctly and the accounting records are made correctly.
In W3, financial statements can be easily retrieved by filtering within a certain date range, converted to Excel or PDF format, and are simple printable functions.
You can learn detailed information about financial statements and legal regulations from experts or from books and articles of experts.
Before Use
- Balance Sheet Form Definitions
- Fund Flow Statement Definitions
- Income Statement Form Definitions
- Cash Flow Statement Form Definitions
- Cost of Sales Statement Definitions
Module Functions
- Balance Sheet
- Fund Flow Statement
- Income Statement
- Trial Balance
- Cost of Goods Sold Statement
Related Functions in Other Modules
All transactions that record financial statements in accounting
Tip
You can save the filtered financial statements by recording them. In this way, you can monitor retrospective changes.
Attention
In order for financial statements to be created automatically, financial statement definitions must be made in accordance with the rules. Table definitions come standard in W3. Users can rearrange the definitions if they wish. Especially companies doing business in different countries should make these arrangements carefully according to the rules of that country.
Recommendation
Check your financial statements regularly every month. Compare with previous month's charts. If you make checks monthly, it will be easier to notice errors.