Some of the major accounting reports are:

1. Company and Accounts

General Ledger

Go to: Accounts > Company and Accounts > General Ledger.

The General Ledger provides a comprehensive overview of all transactions recorded for each account, with each transaction comprising a Credit and Debit account, thus encompassing all entries.

This report is derived from the GL Entry table and can be refined using various predefined filters such as Account, Cost Centers, Party, Project, and Period, among others. These filters facilitate obtaining a comprehensive overview of all entries posted within a specific period for any account. The resulting report can be organized by Account, Voucher/Transaction, and Party, featuring opening and closing balances for each group. Additionally, in the context of multi-currency accounting, there exists an option to view amounts in currencies other than the company’s base currency.

2. Accounting Statements

2.1 Accounts Receivable and Accounts Payable (AR / AP)

Go to: Accounts > Accounting Statements > Accounts Receivable.

These reports help you to track the outstanding number of Customers and Suppliers. It also provides ageing analysis i.e. a break-up of outstanding amount based on the period for which the amount is outstanding.

2.1.1 Accounts Receivables based on Payment terms

You can also see Accounts Receivables based on Payment Terms.

Accounts Receivable report based on payment terms can be seen by clicking the checkbox ‘Based On Payment Terms’.

Outstanding amount against each payment term can be seen. Invoiced Amount shows each payment term amount and Paid Amount shows paid amount against each payment term. Payment against each term is allocated in FIFO order.

2.1.2 ‘Revaluation Journals’ filter on Accounts Receivable/Payable

The ‘Revaluation Journals’ filter ensures precise reporting of outstanding invoices by addressing currency conversion discrepancies for parties through Exchange Rate Revaluation journals. This filter is only relevant in cases of extensive utilization of multi-currency transactions and Exchange Rate Revaluation.

2.2 Trial Balance

Go to: Accounts > Accounting Statements > Trial Balance.

A Trial Balance is a financial report that details the account balances for all Ledger and Group Accounts within a specified reporting period. Companies typically generate a trial balance periodically, often at the conclusion of each reporting period. The primary objective of compiling a trial balance is to ensure the accuracy of entries within a company’s accounting system. It is crucial that the total Debit and Credit columns equate for any given period, ensuring the accuracy of the recorded transactions.

In BizCentric, the trial balance report comprises the following columns:

• Opening (Dr): The opening debit balance as of the specified start date.
• Opening (Cr): The opening credit balance as of the specified start date.
• Debit: The total amount debited to the account during the selected period.
• Credit: The total amount credited to the account during the selected period.
• Closing (Dr): The closing debit balance as of the specified end date.
• Closing (Cr): The closing credit balance as of the specified end date.

Additional options are available to include or exclude Period Closing Entries, display or conceal accounts with zero balances, and exhibit unclosed balances from the previous fiscal year’s Profit and Loss (Income & Expenses) statement. All figures in the report are presented in the company’s base currency.

2.3 Balance Sheet

Go to: Accounts > Accounting Statements > Balance Sheet.

A Balance Sheet is a financial statement that summarizes a company’s assets, liabilities, and equity at a specific moment in time.

In BizCentric, the Balance Sheet offers enhanced flexibility for analyzing your financial standing. You can generate the report across multiple years for value comparisons. Additionally, you can review values for a specific Finance Book or Cost Center. Furthermore, you have the option to display balances in any other chosen currency.

2.4 Cash Flow Statement 

Go to: Accounts > Accounting Statements > Cash Flow.

A Cash Flow is a financial statement which shows the incoming and outgoing of cash or cash-equivalents for a company. It is used to analyze the liquidity position of the company.

2.5 Profit and Loss Statement

Go to: Accounts > Accounting Statements > Profit and Loss Statement.

2.6 Consolidated Financial Statements

Go to: Accounts > Accounting Statements > Consolidated Financial Statement.

The report presents a consolidated perspective of the Balance Sheet, Profit and Loss Statement, and Cash Flow for a group company by amalgamating the financial statements of all subsidiary companies. It displays balances for each individual company as well as accumulated balances for the group company.

3. Taxes

3.1 Sales and Purchase Register

Go to: Accounts > Taxes > Sales Register or Purchase Register.

The Sales and Purchase Register report provides a comprehensive overview of all sales and purchase transactions within a specified period, detailing invoiced amounts and tax particulars. Each tax category is presented in a separate column, facilitating the calculation of total taxes collected or paid for each tax type during the period. This aids in accurately reporting and remitting taxes to the government.

4. Budget and Cost Center

4.1 Budget Variance

Go to: Accounts > Budget and Cost Center > Budget Variance Report.

Within BizCentric, you have the capability to allocate expense budgets to specific expense accounts associated with any designated cost center. This report offers a comparison between the budgeted and actual expenses, providing insights into the variance (the variance being the disparity between the two) across monthly, quarterly, or yearly perspectives.

5. Tax reports for India

5.1 GSTR-1 (India)

Go to: Accounts > Goods and Services Tax (GST India) > GSTR-1.

The GSTR-1 report assists Indian users in submitting their monthly returns for outward supplies. This report displays all sales transactions of the company in the format specified by the government. The report’s output varies depending on the selected type of business (B2B, B2C Large, B2C Small, CDNR, and Export).

5.2 GSTR-2 (India)

Go to: Accounts > Goods and Services Tax (GST India) > GSTR-2.

The GSTR-2 report helps Indian users to file monthly return of inward supplies. The report gives the details of all inward supplies of goods or services received during a month, in Govt specified format.

6. Analytics

6.1 Item wise Sales and Purchase Register

Go to: Accounts > Analytics > Item-wise Sales Register or Item-wise Purchase Register.

The Item Wise Sales and Purchase Register report provides a comprehensive overview of all sales and purchase transactions within a specified period, including item rates, quantities, amounts, and tax details. Taxes are displayed in separate columns, facilitating the identification of individual taxes for each item. This report enables users to analyze which items are sold or purchased most frequently.

For more detailed analysis, the ‘Group By’ filter can be utilized to obtain sales data for specific customers, suppliers, territories, etc. This allows users to identify which items are popular in particular regions or which customers are purchasing specific items more frequently.

6.2 Sales or Purchase Invoice Trends

Go to: Accounts > Analytics > Sales Invoice Trends or Purchase Invoice Trends.

Another very useful report is invoice trends, From this report you can easily get the trending items on monthly, quaterly, half yearly or yearly basis. You will get the idea of sales and purchase both in quantity and amount.

7. To Bill

• • Ordered Items To Be Billed: This report displays items that have been ordered by customers but for which a Sales Invoice has not yet been created or has been partially created.
  • Delivered Items To Be Billed: This report lists items that have been delivered to customers but for which a Sales Invoice has not yet been created or has been partially created.
  • Purchase Order Items To Be Billed: This report presents items that have been ordered from suppliers but for which a Purchase Invoice has not yet been created or has been partially created.
  • Received Items To Be Billed: This report shows items that have been received from suppliers but for which a Purchase Invoice has not yet been created or has been partially created.

8. Other Reports

8.1 Party Wise Trial Balance

Go to: Accounts > Other Reports > Trial Balance for Party. Usually, you might need to see the trial balance for your customers and suppliers. You can easily get for all of your customers or suppliers and also for individual.

8.2 Customer Credit Balance

The report shows the credit limit, outstanding and credit balance for each customer.