How to Prepare and Analyze Balance Sheet and Cash Flow Reports in Gridlex Sky?

Published | Aug. 23, 2023, 6:47 a.m.

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The balance sheet and cash flow reports are two of the most important financial statements in accounting. The balance sheet report shows a company's assets, liabilities, and equity, while the cash flow report shows a company's cash inflows and outflows. With the help of Gridlex Sky, users can utilize these reports to capture the condition of the company's finances. Users can dive deeper in the Balance Sheet and Cash Flow Reports that can be used to make business plans for the future. Furthermore, they can export these reports in PDF format as well.


If you need any help with any feature, data migration of your old accounting data, questions on Chart of Accounts (COA) or anything at all, just email apps@gridlex.com, and our team of expert accountants will be here to help you. Remember, that one of Gridlex’s core values is Customer Success. We want you to be successful.
 

Balance Sheet Reports in Gridlex Sky

Step 1: Login into your Gridlex App Suite Account and choose the entity of your choice. Go to the “Reports” tab and select the “By Entity” tab in the Balance Sheet module. 


Step 2: Here, users can view a financial statement that shows the assets, liabilities, and equity of a business at a specific point in time. Select the date range for which you want to prepare the balance sheet. For example, you can set the time period for the previous month, previous year or customize your dates as per your business requirements. You can also customize the view of the sheet. 

Vertical View

Horizontal View:

Step 3: If you need to make any adjustments, you can do so by clicking on the relevant particulars and revising the required changes. Once you have verified that the balances are correct, you can save them by clicking the "Save" button.


Step 4: Users can view and generate their balance sheet according to item-wise, center-wise, division-wise, and label-wise. 

Balance Sheet Reports - Schedule III Format 

Step 1:  Login into your Gridlex App Suite Account and choose the entity of your choice. Go to the “Reports” tab and select the “Schedule III” tab in the Balance Sheet module.


Step 2: Enter your asset and liability accounts into the appropriate sections of the balance sheet template. Click on “Edit Account Mapping” to edit the mapping of the Account Types. Once done, click on the “Save” button. 

Cash Flow Reports in Gridlex Sky

Step 1: Login into your Gridlex App Suite Account and choose the entity of your choice. Go to the “Reports” tab and select the “By Entity” tab in the Cash Flow module. 


Step 2: Users will be directed to the “Entity Cash Flow” section. Here, users can view the Profit & Loss Statement for a certain period. Furthermore, users can utilize the filters to view custom time period i.e From and To Date. In addition, users can view the entire report in Vertical view and Horizontal view. To expand the section, click on (+) and to collapse click on (-). 

Note: Users can download the Profit & Loss Statement in Excel and PDF format by clicking on the “Download” button. 


Step 3: Apart from Entity Cash Flow, users can view and generate their cash flow reports by customer, by vendor, by item, by center, by division, and by label.