Accounting Software | Financial Statements

P&L, balance sheet, cash flow. US GAAP and IFRS layouts.

Statements drop the day you close. US GAAP as standard, IFRS for the foreign-parent group view. Cash flow direct or indirect. Drill from any line to the source JE to the source bill.

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What the system does

Capability, input, output.

Capability	Input	Output
P&L generation	Posted ledger and its GAAP mapping	US GAAP layout with comparatives
Balance sheet	Posted ledger and period close	US GAAP and IFRS layouts in parallel
Cash flow (direct + indirect)	Posted ledger + bank movements	Both methods drafted; CFO picks the layout
Book-to-tax bridge	Statements and the tax classification on the COA	The M-1 workings, generated rather than rebuilt in a spreadsheet
Notes drafting	Ledger + segment + related-party master	Notes auto-drafted from the ledger
Drill-to-source	Statement line	JE → bill / invoice / payment, one click
Comparatives	Prior period statements	YoY and QoQ comparatives in the layout

P&L generation

Input

Posted ledger and its GAAP mapping

Output

US GAAP layout with comparatives
Balance sheet

Input

Posted ledger and period close

Output

US GAAP and IFRS layouts in parallel
Cash flow (direct + indirect)

Input

Posted ledger + bank movements

Output

Both methods drafted; CFO picks the layout
Book-to-tax bridge

Input

Statements and the tax classification on the COA

Output

The M-1 workings, generated rather than rebuilt in a spreadsheet
Notes drafting

Input

Ledger + segment + related-party master

Output

Notes auto-drafted from the ledger
Drill-to-source

Input

Statement line

Output

JE → bill / invoice / payment, one click
Comparatives

Input

Prior period statements

Output

YoY and QoQ comparatives in the layout

Compliance + integrations

Statements that match the law your auditor cites.

US GAAP layouts maintained centrally, with IFRS for foreign-parent groups. The book-to-tax bridge comes off the same COA mapping, so the filing is not a separate exercise in a separate tool.

Regulations we work within

US GAAP

Presentation layouts ship with the product and track the standard.
Disclosure set

Scaled to what the entity actually files, rather than a full public-company disclosure pack.
IFRS

IFRS layouts for foreign-parent group view.
Book-to-tax

Statements bridged to the tax return from the same COA mapping.

Connects to

Xero Ledger sync both ways
QuickBooks Ledger sync both ways
Excel / PDF export Auditor-ready packaging

Financial Statements FAQ

What buyers ask.

How much disclosure does a private company actually need?

Less than the product defaults to if you leave it alone, which is why the disclosure set is scaled per entity for a transition year. The difference is mostly disclosure volume rather than measurement, so the statements come off the same ledger either way. What changes is how much of the notes pack gets drafted.

We are preparing for an audit for the first time. Is the transition handled?

Yes. The first audited year is supported with a transition workpaper covering the reconciliation, opening balance adjustments and presentation differences. Your auditor reviews it before sign-off rather than reconstructing it.

Cash flow: direct or indirect method?

Both methods are supported. Most companies file the indirect method under ASC 230; the direct method is available for management reporting. Switch between layouts with no posting impact.

Can we restate prior periods?

Yes. Restatements, whether a prior-period error or a change in accounting policy, are supported as a tracked event. The restated statements export with the restatement note auto-drafted, and the original stays retrievable.

Related features

Run last quarter's statements on your ledger, free.

Connect one entity, post a few JEs, see the balance sheet generate live. Drill from any line to the source JE in one click.