Financial statements from the ledger
Trial balance, balance sheet and income statement read straight from the general ledger. Chart of accounts import from Excel.
Financial statements in ProBooks are now read straight from the general ledger: the trial balance, a balance sheet that balances and the income statement. In addition, the chart of accounts can be imported from Excel, with a blank template and an export you can bring back in as an import. A bank overdraft now appears in its correct position. The changes are for accountants who prepare the statements and for owners who read them.
When you open the trial balance, the balance sheet or the income statement, the figures come from the postings in the general ledger, not from a separate calculation. For the chart of accounts, you download the blank template, fill it in Excel and import it. If you want to change the existing chart, you export it, edit it in Excel and import it again. A bank account in overdraft shows where it belongs in the statements.
When the statements and the general ledger come from the same source, there are no differences to explain between them, and the balance sheet balances. That makes preparing the statements faster and reviewing them easier. Importing from Excel saves hours when you set up a new chart of accounts or adjust an old one, instead of typing it account by account.
If you are an accountant and want to see the statements with sample data, ask us for a session and we will show you how they connect to the general ledger. We can also walk you through importing the chart of accounts from Excel, step by step. For questions about your own chart of accounts, write to us before you begin.
