Run Financial Reports

Financial reports are how you communicate the results of a bookkeeping period to your client and satisfy CRA filing requirements. Kuberan Books generates reports in real time — every categorised transaction immediately flows into the reports — so you always have an up-to-date view without a separate closing step.

Navigate to Reports

Inside the client’s Books, click Reports. The screen lists the available reports grouped into categories: Financial Statements, Accounting, Receivables, Payables, Tax, and Banking.

All standard reports are available from the Reports screen.

Income Statement

The Income Statement (profit & loss) summarises revenue and expenses over a period and shows the net income or net loss for that period.

1. Click Income Statement from the Reports screen.

2. Set the date range

   Use the date-range selector’s quick presets — This Month, Last Month, This Quarter, Last Quarter, Year to Date, Last Year, Last 12 Months — or the Fiscal, Calendar, and Custom tabs for a specific span.

3. Choose the accounting method

   The Accounting Method option lets you switch between Accrual and Cash basis, regardless of the client’s ledger setting. This is useful when the client uses accrual books but wants to see the numbers on a cash basis for tax planning. (This toggle is specific to the Income Statement.)

4. Compare periods (optional)

   Tick Compare Periods and choose how many periods to place side by side. You pick each comparison period’s dates, so you can compare month-over-month, quarter-over-quarter, or against the same period last year.

5. Expand or collapse account groups

   The report groups accounts by type. Use the Show Sub-accounts and Show Account Numbers options to control the level of detail.

Balance Sheet

The Balance Sheet shows the financial position of the business at a single point in time: what it owns (assets), what it owes (liabilities), and what the owners have invested (equity).

1. Click Balance Sheet from the Reports screen.

2. Set the as-of date

   The Balance Sheet is a snapshot. Enter the As of Date you want the snapshot taken — usually the last day of the reporting period.

3. Verify retained earnings

   The Equity section includes Retained Earnings, which should equal prior-year retained earnings plus current-year net income, less any drawings or dividends. If it does not match your expectations, drill into it (see below) to investigate.

4. Compare dates (optional)

   Tick Compare Periods and add the as-of dates you want side by side — for example this year-end next to last year-end.

Trial Balance

The Trial Balance lists every account and its balance (debit or credit) as of a specific date. Its primary purpose is to confirm that total debits equal total credits across the entire ledger.

1. Click Trial Balance from the Reports screen.

2. Set the as-of date.

3. Check the totals row

   The total debit column and total credit column must be equal. If they are not, there is a data-integrity issue — likely an import error or an out-of-balance manual entry.

4. Use for period-end spot checks

   Run the Trial Balance at the end of every month as part of your month-end close checklist. Look for account balances with the wrong sign, or unexpectedly large balances in clearing or suspense accounts.

Drill down from any report to source transactions

Numbers on the financial reports are clickable. Clicking an account amount takes you to a filtered list of the underlying transactions that make up that number.

For example, on the Income Statement:

• Click the amount next to “Office Supplies Expense” to see all office-supplies transactions for the period.
• Click the amount next to a revenue account to see all revenue transactions.

From the drilled-down list you can open individual transactions and even edit them inline. This is essential for answering client questions and for preparing tax returns — you can move from a report line to the supporting transactions in a couple of clicks.

Export reports

Each report offers three output options from the Export menu (plus Print):

Format	Best for
PDF	Sending to clients, including in engagement files
CSV	Further analysis, importing into tax software
Print	Physical presentation copies

You can also Save Report to keep a snapshot and revisit it later from Saved Reports.

Other reports available

Beyond the Income Statement, Balance Sheet, and Trial Balance, the Reports screen also includes:

• Cash Flow Statement — cash movements over a period
• General Ledger — every transaction for every account in a selected period; the most detailed report available
• AR Aging — which customers owe money and how long it has been outstanding (see month-end close)
• AP Aging — which vendors are owed money and when bills are due
• HST/GST Report — sales tax collected and ITCs for the period, in CRA GST34 line format (feeds the GST/HST return)
• GIFI Summary — the trial balance grouped by CRA RC4088 GIFI line, ready to hand to T2 / T2125 tax software. Use it at year-end and check the Missing GIFI only filter in the Chart of Accounts first so every account maps to a return line
• Deposit Summary — bank deposits by account and status
• Undeposited Funds — payments received but not yet deposited
• Customer Deposits — customer prepayments and how they have been applied