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home/Knowledge Base/Reporting/Report – Financial – Definitions

Report – Financial – Definitions

11 views 0 December 1, 2022 Updated on December 16, 2022 mippsupportadmin

What is included in the Financial tab:

Balance Sheet

The balance sheet presents a company’s financial position at the end of a specified date. Some describe the balance sheet as a “snapshot” of the company’s financial position at a point (a moment or an instant) in time.

Trial Balance

The trial balance is an internal report run at the end of an accounting period, listing the ending balance in each account. The report is primarily used to ensure that the total of all debits equals the total of all credits. The account code is added with the account name. The reports are grouped by account class and total summary for each account class.

Aged Receivables (Tenant)

An accounts receivable aging is a report that lists unpaid tenant invoices. Also known as “AR Aging Report” or “AR report.”

Aged Receivables (Owner)

An accounts receivable aging is a report that lists unpaid owner invoices—also known as “AR Aging Report” or “AR report.”

Profit & Loss (Income Statement)

The P&L (income statement) report presents the financial results of a business for a stated period of time. The statement quantifies the amount of revenue generated and expenses incurred by an organization, as well as any resulting net profit or loss. There is now an option to select multiple properties in the Profit & Loss Report.

General Ledger

The General Ledger reports provide the starting balance, ending balance and all of the transactions for the period organized by account. The Reports are ordered by Account Code.

Account Transaction

The Account Transactions report displays transactions recorded to one or multiple accounts in your chart of accounts.

Sales Tax Report

The Sales Tax Summary report is part of the Sales Tax Report and links to the Sales Tax Audit. It shows the total net sales tax charged or paid by a business for the selected period.

Aged Payables

Accounts payable aging is a report that lists unpaid vendor bills. Also known as “AP Aging Report” or “AP report.”

Invoice Report

Summary of all invoice details between a date range of a property.

Tenant Invoice Payments

Summary of invoice payment details between a date range of a property.

Bill Payments

Summary of bill payment details between a date range of a property/vendor.

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