Financial Reports

Financial Reports

Generate financial statements, analyze trends, and create reports for stakeholders, auditors, and regulatory compliance.

Time Required: 10-15 minutes per report Module: Accounting Financial Reports (account_financial_reports) Permissions: Financial Manager, Accountant, Auditor

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Table of Contents

1. Overview
2. Available Reports
3. Balance Sheet
4. Profit and Loss Statement
5. Trial Balance
6. General Ledger
7. Aged Receivables
8. Tax Reports
9. Custom Financial Reports
10. Report Export Options
11. Scheduled Reports
12. Best Practices

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Overview

The Financial Reports module provides educational institutions with:

• Standard financial statements (Balance Sheet, P&L)
• Operational reports (Trial Balance, General Ledger)
• Receivables analysis for fee collection monitoring
• Tax reporting for compliance
• Custom report builder for specialized needs
• Multiple export formats (PDF, Excel, CSV)

Report Categories

Category	Purpose	Audience
Financial Statements	External reporting, audits	Board, auditors, regulators
Management Reports	Internal decision-making	Administration, department heads
Operational Reports	Day-to-day monitoring	Accountants, fee administrators
Compliance Reports	Regulatory requirements	Government agencies, tax authorities

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Available Reports

Standard Financial Reports

Report	Description	Key Information
Balance Sheet	Financial position at a point in time	Assets, liabilities, equity
Profit & Loss	Performance over a period	Income, expenses, net result
Trial Balance	Account balance verification	Debit/credit balance summary
General Ledger	Detailed transaction history	All journal entries by account
Partner Ledger	Transactions by customer/vendor	Student fee history, vendor payments

Aged Analysis Reports

Report	Description	Key Information
Aged Receivables	Outstanding customer invoices	Fee collection status
Aged Payables	Outstanding vendor bills	Vendor payment scheduling

Tax Reports

Report	Description	Key Information
Tax Report	Tax collected and paid	VAT/GST compliance
Tax Summary	Aggregated tax data	Filing preparation

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Balance Sheet

Generate a snapshot of your institution’s financial position.

Step 1: Access Report

1. Go to Accounting > Reporting > Balance Sheet
2. Or navigate to Accounting > Reporting > Financial Reports > Balance Sheet

Step 2: Configure Parameters

Parameter	Description	Example
Date	Report as of date	2024-06-30
Comparison	Compare with prior period	Previous year
Target Moves	Include draft entries	Posted entries only
Account Types	Filter by account type	All balance sheet accounts

Step 3: Generate Report

1. Click Generate
2. Report displays in dynamic view
3. Click account names to drill down to transactions

Step 4: Export

1. Click PDF for printable version
2. Click Excel for spreadsheet analysis
3. Use Print for direct printing

Understanding Balance Sheet Structure

ASSETS
|-- Current Assets
|   |-- Cash and Bank
|   |-- Accounts Receivable (Student Fees)
|   |-- Prepaid Expenses
|
|-- Non-Current Assets
    |-- Fixed Assets
    |-- Accumulated Depreciation

LIABILITIES
|-- Current Liabilities
|   |-- Accounts Payable
|   |-- Deferred Revenue (Advance Fees)
|
|-- Non-Current Liabilities
    |-- Long-term Debt

EQUITY
|-- Capital
|-- Retained Earnings
|-- Current Year Earnings

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Profit and Loss Statement

Analyze revenue and expenses over a reporting period.

Step 1: Access Report

1. Go to Accounting > Reporting > Profit and Loss

Step 2: Configure Parameters

Parameter	Description	Example
Date From	Period start	2024-07-01
Date To	Period end	2024-12-31
Comparison	Compare periods	Same period last year
Analytic Account	Filter by department	Academic Department
Target Moves	Entry status	Posted entries only

Step 3: Analyze Results

Key metrics for educational institutions:

Metric	Calculation	Significance
Total Revenue	Fee income + other income	Operating capacity
Total Expenses	Salaries + operations + overhead	Cost structure
Net Result	Revenue - Expenses	Financial health
Operating Margin	Net Result / Revenue	Efficiency

Education-Specific Revenue Lines

Revenue Type	Description
Tuition Fees	Primary academic revenue
Registration Fees	One-time enrollment charges
Examination Fees	Assessment-related income
Activity Fees	Extracurricular programs
Lab Fees	Practical course charges
Library Fees	Resource access charges

Education-Specific Expense Lines

Expense Type	Description
Faculty Salaries	Teaching staff compensation
Administrative Salaries	Non-teaching staff
Facility Costs	Utilities, maintenance, rent
Academic Materials	Books, supplies, software
Student Services	Counseling, health, activities
Depreciation	Asset value reduction

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Trial Balance

Verify accounting accuracy with a complete account balance listing.

Step 1: Access Report

1. Go to Accounting > Reporting > Trial Balance

Step 2: Configure Parameters

Parameter	Description	Options
Date Range	Reporting period	Fiscal year, quarter, custom
Display Account	Detail level	With movements, All accounts
Target Moves	Entry status	Posted, All
Hide Zero Balances	Simplify display	Yes/No

Step 3: Review Results

Column	Description
Account Code	Chart of accounts number
Account Name	Descriptive name
Initial Balance	Balance at period start
Debit	Total debits in period
Credit	Total credits in period
Ending Balance	Balance at period end

Verification Check

• Total Debits must equal Total Credits
• If unbalanced, investigate journal entries

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General Ledger

Review detailed transaction history by account.

Step 1: Access Report

1. Go to Accounting > Reporting > General Ledger

Step 2: Configure Parameters

Parameter	Description	Example
Date From	Period start	2024-01-01
Date To	Period end	2024-12-31
Account(s)	Specific accounts	Fee income accounts
Partner	Filter by customer/vendor	Specific student
Analytic Account	Filter by cost center	Main campus

Step 3: Analyze Transactions

Each account shows:

• Opening balance
• Individual transactions with date, reference, partner
• Running balance
• Closing balance

Use Cases

Scenario	Configuration
Audit Trail	Select specific account, full date range
Student Fee History	Filter by partner (student)
Department Analysis	Filter by analytic account
Bank Reconciliation	Select bank account, monthly period

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Aged Receivables

Monitor outstanding student fee payments and collection status.

Step 1: Access Report

1. Go to Accounting > Reporting > Aged Receivables

Step 2: Configure Parameters

Parameter	Description	Example
As of Date	Analysis date	Today
Period Length	Aging buckets	30 days
Partner Type	Customer/Vendor	Customers (Students)

Step 3: Review Aging Buckets

Standard aging periods:

Bucket	Description	Action
Current	Not yet due	Monitor
1-30 Days	Recently overdue	Reminder
31-60 Days	Moderately overdue	Follow-up
61-90 Days	Significantly overdue	Escalate
90+ Days	Severely overdue	Collection action

Fee Collection Insights

Metric	Calculation	Target
Current %	Current / Total AR	> 70%
30+ Days %	(30-90 days) / Total AR	< 20%
90+ Days %	90+ days / Total AR	< 10%

Drill-Down

1. Click student name to see individual invoices
2. Click invoice to view details
3. Send reminder directly from invoice

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Tax Reports

Generate tax compliance reports for regulatory filing.

Step 1: Access Report

1. Go to Accounting > Reporting > Tax Report

Step 2: Configure Parameters

Parameter	Description
Period	Tax reporting period
Tax Type	Sales tax, purchase tax, or all
Target Moves	Posted entries

Step 3: Review Tax Summary

Section	Content
Sales Tax	Tax collected on fee invoices
Purchase Tax	Tax paid on vendor bills
Net Tax	Amount due to/from tax authority

Education Sector Considerations

Item	Tax Treatment
Tuition Fees	Often exempt or zero-rated
Hostel Fees	May be taxable
Canteen Revenue	Usually taxable
Book Sales	May have reduced rate

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Custom Financial Reports

Create specialized reports for your institution’s needs.

Step 1: Access Report Builder

1. Go to Accounting > Configuration > Financial Reports
2. Click New

Step 2: Define Report Structure

Field	Description
Name	Report title
Debit/Credit	Sign convention
Parent Report	Nest under existing report
Sequence	Display order

Step 3: Add Report Lines

For each line item:

Field	Description
Name	Line label
Code	Unique identifier
Type	Accounts, Sum of children, Total
Account Codes	Accounts to include (wildcards supported)
Sign	Positive/Negative/Both

Example: Fee Collection Summary Report

Fee Collection Summary
|
+-- Tuition Revenue
|   |-- Accounts: 4001*, 4002*
|
+-- Registration Revenue
|   |-- Accounts: 4010*
|
+-- Examination Revenue
|   |-- Accounts: 4020*
|
+-- Other Fee Revenue
|   |-- Accounts: 4090*
|
+-- TOTAL FEE REVENUE (Sum)

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Report Export Options

PDF Export

• Professional formatting
• Includes company letterhead
• Suitable for board meetings, audits
• Click PDF button on any report

Excel Export

• Full data with formulas
• Easy for further analysis
• Pivot table ready
• Click Excel button on any report

CSV Export

• Raw data format
• Integration with other systems
• Bulk processing
• Available via export action

Print

• Direct to printer
• Multiple copies option
• Landscape/Portrait selection

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Scheduled Reports

Automate report generation and distribution.

Configure Scheduled Report

1. Go to Settings > Technical > Scheduled Actions
2. Create new action for report generation
3. Configure:

Setting	Value
Interval	Monthly, Weekly, Daily
Time	Preferred execution time
Recipients	Email addresses
Format	PDF, Excel

Common Scheduled Reports

Report	Frequency	Recipients
Monthly P&L	Monthly	CFO, Department Heads
Aged Receivables	Weekly	Fee Administrator
Bank Reconciliation	Daily	Accountant
Budget Variance	Monthly	Budget Managers

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Best Practices

Report Accuracy

1. Close Periods - Close monthly before generating reports
2. Reconcile First - Complete bank reconciliation
3. Review Draft Entries - Post or delete drafts
4. Verify Dates - Confirm reporting period is correct

Report Distribution

1. Consistent Timing - Deliver reports on schedule
2. Version Control - Include report date in filename
3. Secure Distribution - Use encrypted email for sensitive data
4. Archive Reports - Maintain report history

Audit Readiness

1. Standard Reports - Use consistent formats
2. Documentation - Note any unusual items
3. Drill-Down Capability - Maintain transaction detail
4. Retention - Keep reports per retention policy

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Troubleshooting

Report shows incorrect amounts

Solutions:

1. Verify reporting period dates
2. Check if draft entries should be included
3. Confirm account assignments
4. Review currency conversion settings

Report takes too long to generate

Solutions:

1. Narrow date range
2. Filter to specific accounts
3. Generate during off-peak hours
4. Check database performance

Comparison data missing

Solutions:

1. Verify data exists for comparison period
2. Check fiscal year configuration
3. Confirm accounts existed in prior period

Export fails

Solutions:

1. Check file size limits
2. Verify export permissions
3. Try different format (Excel vs PDF)
4. Check browser popup blocker

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Related Topics

• Budget Management
• Accounting Integration
• Fee Reports
• Cash Flow Management