Financial reports can be used together to provide information about a company's ability or inability to generate profit by increasing revenue, reducing costs, or both. The financial reports collate your accounting software actuals and your Figured forecasted budget to measure how you are performing. There are several financial reports available on Figured:

This reports on the movements of money into and out of the business. It is often used to look at transactions to see if you are making more than you are spending.

By default the Profit & Loss report is run on a profit or accrual basis and doesn’t take into account opening balances. However, you do have the option run this report on a cash basis within the additional options menu. You also have the option to run comparison between another period or a snapshot.

Like the Profit & Loss report this reports on the movements of money into and out of a business. However, unlike the Profit & Loss report it takes into account opening balances, and provides a closing balance figure. The cash flow is typically used to help you to make sure that you have funds in your account to pay for expenses at certain times. It is less about looking at the short term transactions and more about overall planning for the years finances across the year.

The cash flow report is always run on a cash basis. You do have the option to run comparison between another period or a snapshot.

A balance sheet is a financial statement that reports your assets, liabilities and equity. It is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. You can read more on it here.

The variance report is a report that compares planned forecasted transactions (shown in orange) with the actual transactions (shown in green), in other words compares what was supposed to happen with what happened. This report is typically used to measure how well you are performing against your planned budget.

There are many comparison options to choose from when running the Variance report, including snapshot. You also have the option to display the variance figures (as above) as well as stock quantity numbers. You can choose multiple comparison options as well.

This is similar to the Balance Sheet in that it compares your assets and liabilities. However, unlike the Balance Sheet report the Statement of Financial Position can be run up to a specific date instead of by financial year. You also have the option to compare against a different time frame and display the variance. You can read more about why the Financial Position is import and how it is used here.

Relatively self explanatory, the account transactions report allows you to report on transactions made. You can filter by specific account, financial year, and cash or accrual basis.

Something to note about the account transaction report:

By default the report selects all accounts. If you want to run the report against a specific account you will want to be sure to untick the all option before selecting your desired account.

The Farm Summary report is a summary of your operation at both a production and financial level. This includes your farm area, production specific metrics, financial summary, and financial ratios packaged together to give you an idea of how you are performing at a glance and help you identify key areas where you may need to improve.

You can find out more about this report here

For video tutorials check out our reporting YouTube playlist here.