There are three primary types of reports available in SkySlope Books: General Reports, Deal Reports and Financial Reports. In this article, we'll review the various types of company-level Financial reports available in SkySlope Books and the data that will be included with each report type.
In this article, we will review:
Generating a Report
To begin generating a report:
- In the left menu, navigate to Reporting. Then, go to the Detailed Reports section.
- In the upper right, click Create Report.
- Under company-level reports, select the type of report you want to generate (Financial Reports). Then select the type of Financial Report you want to generate:
- Income Statement - Account Type Summary - 1099-NEC - Balance Sheet - Accounting Trial Balance - 1099-INT - Account Transactions - Summary Trial Balance - 1099-MISC - Journal - Cash Flow Statement - A/P Aging - General Ledger - A/R Aging - You'll be able to use the following sections to select the data set you want to include in the report, such as report period, grouping and division. As you complete each section, click Next.
- Finally, click Run Report.
PRO TIP: To generate a report more quickly, click theand click Run Report. This allows you to bypass the editable filters you can customize before running the report.
Types of Financial Reports
With a wide variety of financial reports available in SkySlope Books, we've listed the primary purpose for each report below, helping you determine which report you need with confidence. Reports with star icons ★ are the most commonly used reports in Books. Click here to view sample reports.
Income Statement ★ - Using the Income Statement Report, you can view net profit/net loss for a certain period of time. Additionally, using the Compare to Previous Period option, you can compare net profit/net loss for different time periods. This report will generate a list of income and expenses from all chart of accounts, subtract your expenses from income and provide net profit/net loss.
Balance Sheet ★ - The Balance Sheet report will provide you with a list of assets, liabilities and equities from all charts of accounts. This will help you confirm that the company's liabilities and equities are correctly balanced with assets.
Account Transactions ★ - The primary purpose of the Account Transactions report is to provide a list of every transaction (debit or credit) in the chart of accounts within a specific time period. In this report, you can also view applicable reference numbers to easily reference bank transactions to SkySlope Books transactions. You can generate this report for one or multiple bank accounts.
Journal ★ - The Journal Report is a summary of journal entries that are posted when processing items in SkySlope Books.
General Ledger ★ - Similar to the Account Transactions report, the General Ledger report provides a list of transactions that are grouped by account (rather than by time period). This report includes helpful account balances for the selected time period as well.
Account Type Summary ★ - The Account Type Summary report provides a list of all charts of accounts that are added into SkySlope Books, along with the account's selected account type and total debits and credits posted to each account for the selected time period.
Accounting Trial Balance ★ - This report lists every chart of accounts in SkySlope Books and will show whether they are at a debit or credit balance.
Summary Trial Balance ★ - The Summary Balance Report provides a detailed view of the Account Trial Balance (above) and provides all debit and credit entries, as well as the closing balance, for the selected time period.
Cash Flow Statement - Brokerages can use the Cash Flow Statement report to determine how much cash is accessible to the brokerage. This is determined by totaling funds available across bank accounts and other assets and then deducting liabilities and other financing expenses.
1099-NEC, 1099-INT and 1099-MISC ★ - 1099 documents are utilized for tax purposes across the real estate industry. We've created a resource that outlines 1099 reporting in SkySlope Books.
A/P Aging - The Accounts Payable (A/P) Aging report can be used to view any outstanding bills for a specific time period. When selecting the date to generate this report, please be aware that the date selected is the ending date, meaning the report will show any outstanding bills up to the selected date. The outstanding bills are then broken into date-range groups based on how long they have been overdue.
A/R Aging - Similar to above, the Accounts Receivable (A/R) Aging report shows all outstanding invoices that are owed to the brokerage. When selecting the date to generate this report, please be aware that the date selected is the ending date, meaning the report will show any outstanding bills up to the selected date. The outstanding bills are then broken into date-range groups based on how long they have been overdue.
Sample Financial Reports
Take a look at the attachment below to view sample reports of each Financial Report available in SkySlope Books.
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