Source truth: - Vision and Product Principles - Money and Rounding - Close

Reports

Reports summarize accounting activity and close status.

• Review reports before closing a period.
• Use reports to identify exceptions and rounding issues.
• Confirm that balances trace back to source documents.

Report basis

• Formal reports derive from posted ledger truth.
• Draft and reviewed entries are not formal statement balances.
• Reports should show their as-of date or covered period.
• Captured reports are review artifacts.
• If a report looks wrong, correct the underlying accounting record or account classification rather than overriding the report output.

Review focus

When reviewing reports, check:

• trial balance for unexpected account balances;
• balance sheet for asset, liability, and equity reasonableness;
• income statement for revenue, cost, expense, and net income trends;
• close status and unresolved exceptions before relying on final period results.