How To Utilize Your Financial Reports

What you need to know: 

Financial reports help you review and understand the financial activity of your business. In AgExpert accounting, you may need to run reports to see how profitable the business is, review account balances, verify transactions, compare financial results over a specific period, and support decision-making. Reports can also help you confirm that information has been recorded correctly and provide organized records that can be printed, exported, and shared with different stakeholders. 

All financial reports will have filters that will allow you to bring up specific information. You will need to click on the desired report to see available filters.  Some reports will prompt you to select filters before rendering the report. 

 

What you need to do: 

  • Confirm which financial report you need to run. 

  • Determine the reporting period or specific date needed for the report. 

  • Determine whether the report should be generated using the Cash or Accrual accounting method, if applicable. 

  • Identify any report-specific filters needed, such as report type, transaction display options, sorting preferences, contacts, accounts, or opening balances. 

  • Decide whether you need to print the report or export it to Excel, CSV, or PDF after it is generated. 

 

How to (Step by Step): 

For Balance Sheet: 

  1. Click Reports.  

  2. Select Balance sheet. 

  3. Use the drop-down filters on the View options slide-out to customize your report: 

  4. Choose the Report view: Detailed, Summary or 5 year comparison. 

  5. Select As at date. 

  6. Choose if you want to Only show opening balances. 

  7. You can print the report with the Printer icon, or export to Excel, PowerPoint, CSV, or XML with the Export icon. 

 

For Capital asset: 

  1. Click Reports.  

  2. Select Capital assets. 

  3. Use the drop-down filters on the View options slide-out to customize your report: 

  4. Choose the number of transactions to show Per page: 50, 250, or All. 

  5. Select how you wish to Sort by: Description, Purchased, or Purchase $ 

    Note: You can sort the list ascending or descending with the Arrow icon 

  6. Select the capital Assets you wish to see for the current fiscal year: All assets, Acquisitions, Current Assets, or Disposals 

  7. Check off which Classes of capital assets you want to see by selecting one or more. 

  8. Select View report to generate the report. 

  9. You can print the report with the Printer icon, or export to Excel, PowerPoint, CSV, or XML with the Export icon. 

 

For FCC net worth statement: 

  1. Click Reports. 

  2. Select FCC net worth statement. 

  3. Select date to Show my net worth information as at. 

  4. Click Next. 

    Note: The FCC Onlines Service net worth statement requires all sections to be completed. 

  5. Click Download. 

    Tip: You can see older net worth statements by clicking the Net worth archive. 

    Note: This report is only applicable if you have FCC lending. 

 

For Income and Expense: 

  1. Click Reports. 

  2. Select Income and expense. 

  3. Use the drop-down filters on the View options slide-out to customize your report: 

  4. Choose the number of transactions to show Per page: 50, 250, or All 

  5. Choose the Report view: Single year or 5 year comparison.  

  6. Select the Date: Current fiscal year, Date range, Last month, or By individual quarter 

  7. Choose the accounting Method: Cash or Accrual 

  8. Select View report to generate the report. 

  9. You can print the report with the Printer icon, or export to Excel, PowerPoint, CSV, or XML with the Export icon. 

 

For Net worth: 

  1. Click Reports. 

  2. Select Net worth. 

  3. Use the drop-down filters on the View options slide-out to customize your report: 

  4. Choose the number of transactions to show Per page: 50, 250, or All. 

  5. Choose the Report view: Single year or 5 year comparison. 

  6. Select the As at date. 

  7. Select View report to generate the report. 

  8. You can print the report with the Printer icon, or export to Excel, PowerPoint, CSV, or XML with the Export icon. 

 

For Retained earnings: 

  1. Click Reports. 

  2. Select Retained earnings. 

  3. You can print the report with the Printer icon, or export to Excel, PowerPoint, CSV, or XML with the Export icon. 

 

For Trial balance: 

  1. Click Reports. 

  2. Select Trial balance. 

  3. Select the As at date. 

  4. Select View report to generate the report. 

  5. You can print the report with the Printer icon, or export to Excel, PowerPoint, CSV, or XML with the Export icon. 

 

Note: You can re-run a report at any time by changing the View options and clicking View report again. 

Still have questions? Contact support  

Contact us at 1-800-667-7893 or email support@fccagexpert.ca if you require additional support. You can find other help options under the question mark Icon in the top right of AgExpert Accounting at any time.