Overview

Accounting Reports in iVendNext help businesses track income, expenses, assets, and liabilities—supporting better decisions and compliance.

From General Ledger to Financial Ratios, these reports offer clear insights into financial health. This article highlights key reports, their features, and how they enhance financial management.

1. General Ledger

The General Ledger is the backbone of your accounting system. It provides a detailed record of all financial transactions posted to each account. Here’s how to access and use it:

1. Navigate to the General Ledger
   Go to: Home > Accounting > General Ledger.

2. Filter and Analyze Data
   The report can be filtered by various criteria, such as Account, Cost Center, Party, Project, and Period. This allows you to view transactions for specific accounts or timeframes.

3. Group and Summarize Data
   You can group the report by Account, Voucher/Transaction, or Party to get a summarized view of transactions. The report also shows opening and closing balances for each group.

4. Multi-Currency Support
   For businesses operating in multiple currencies, the General Ledger allows you to view amounts in your company’s base currency or any other currency.

2. Accounts Receivable and Accounts Payable (AR/AP)

The Accounts Receivable (AR) and Accounts Payable (AP) reports help you track outstanding amounts from customers and suppliers. Here’s what you can do with these reports:

1. Access the Reports
   Go to: Accounts > Accounting Statements > Accounts Receivable or Accounts Payable.

2. Aging Analysis
   The reports provide an aging analysis, which breaks down outstanding amounts based on how long they have been due (e.g., 0-30 days, 31-60 days, etc.).

3. Payment Terms
   You can view outstanding amounts based on Payment Terms, showing invoiced amounts and paid amounts for each term.

4. Revaluation Journals
   For businesses handling multi-currency transactions, the Revaluation Journals filter ensures accurate reporting of invoice outstandings by accounting for currency conversion differences.

3. Trial Balance

The Trial Balance is a critical report that lists the balances of all accounts for a given period. It ensures that the total debits equal the total credits, confirming the accuracy of your financial records. Here’s how to use it:

1. Access the Trial Balance
   Go to: Accounts > Accounting Statements > Trial Balance.

2. View Account Balances
   The report shows Opening Balances, Debit/Credit Totals, and Closing Balances for each account.

3. Customize the Report
   You can include or exclude Period Closing Entries, show/hide accounts with zero balances, and display unclosed balances from previous fiscal years.

4. Balance Sheet

The Balance Sheet provides a snapshot of your company’s financial position at a specific point in time. It shows Assets, Liabilities, and Equity. Here’s how to use it:

1. Access the Balance Sheet
   Go to: Accounts > Accounting Statements > Balance Sheet.

2. Analyze Financial Position
   The report allows you to compare values across multiple years, check balances for specific Finance Books or Cost Centers, and view amounts in different currencies.

5. Profit and Loss Statement

The Profit and Loss (P&L) Statement summarizes revenues and expenses over a specific period. It helps you assess your company’s profitability. Here’s how to use it:

1. Access the P&L Statement
   Go to: Accounts > Accounting Statements > Profit and Loss Statement.

2. Customize the Report
   You can run the report for multiple periods, view values for specific Finance Books, Projects, or Cost Centers, and choose to show accumulated balances or period-specific balances.

6. Financial Ratios Report

The Financial Ratios Report provides insights into your company’s financial performance using key ratios. These ratios are divided into three categories:

1. Liquidity Ratios

• Current Ratio: Current Assets / Current Liabilities

• Quick Ratio: Quick Assets / Quick Liabilities

2. Profitability Ratios

• Gross Profit Ratio: (Net Sales - Cost of Goods Sold) / Net Sales

• Net Profit Ratio: Net Profit After Tax / Net Sales

3. Turnover Ratios

• Inventory Turnover Ratio: Net Sales / Average Inventory

• Debtor Turnover Ratio: Credit Sales / Average Debtors

7. Tax Reports

iVendNext also provides specialized tax reports, such as:

1. Sales and Purchase Registers
   These reports show all sales and purchase transactions with tax details, helping you track taxes collected or paid.

2. GSTR-1 and GSTR-2 (India)
   These reports help Indian users file monthly GST returns for outward and inward supplies.