These three are the Free plan’s financial reports. They read posted journals, not invoice status. Hub locks, PDF/Excel, and Email are in Open reports. The line-by-line ledger is General ledger, not these pages.
Same hub path for every report on this page. See Open reports.
How to open it
| Step | Click |
|---|---|
| 1 | Reports |
| 2 | Profit & Loss, Balance Sheet, or Trial Balance |
| 3 | View report |
You need Reports permission and financial-statements on the plan (Free, Beta, and Starter all have this group). Finalize invoices and bills with auto-post on if you expect the statements to move themselves — Create and send an invoice and Record a bill.
Account type (Income, Expense, Asset, Liability, Capital) comes from the account category. Put an income account in Expenses and it will sit on the wrong statement. See Accounting settings and chart of accounts.
Date range defaults to This Month. Location is optional. Income accounts for the period, then expenses, then Net Income or Net Loss (income minus expense).
Click an account to open the transaction panel for that account in the same date range (and location, if you filtered). Parent accounts can show a subtotal or net when they have children or contra accounts.
What feeds P&L
| You recorded | On P&L? |
|---|---|
| Finalized accrual invoice (auto-post on) | Yes — income (and COGS if inventory tracking posted a General journal) |
| Finalized Cash invoice | No, until you enter a Sales or Receipt Journal |
| Customer payment | No — payments do not journal. Cash still needs a Receipt Journal |
| Finalized accrual bill (auto-post on) | Expense or (for inventory lines) inventory, not expense, until you sell |
| Posted supplier payment | No extra P&L — it clears AP / bank, not income |
| Journal you posted yourself | Yes, if the lines hit Income or Expense |
This is as of one date, not a from–to range. Seedflow totals posted Asset, Liability, and Capital activity from an early start date through that as-of date, then adds current-year net income so the sheet can balance.
Location is optional and uses journal location. Click a real account for the transaction panel. The Net Income (or Net Loss) equity line is this fiscal year’s P&L through the as-of date — clicking it opens Profit & Loss for that year, not a ledger panel. Retained earnings uses the account on Settings → Accounting → General.
How to read it
| Section | Meaning |
|---|---|
| Assets | Debit-normal accounts (cash, AR, inventory) as of the date |
| Liabilities | Credit-normal (AP, VAT payable, loans) |
| Equity | Capital accounts, retained earnings, plus current-year net income |
| Totals | Total assets should equal total liabilities and equity. If they do not, a journal is unposted, unbalanced, or an account is in the wrong type |
As-of date, optional location. Unlike the balance sheet, this is this fiscal year through the as-of date, not all-time. Fiscal year start month is Settings → Accounting → General — see Accounting settings and chart of accounts.
The floating control switches list (flat table) and group by account type. Debit-normal types (Asset, Expense) show a debit column; credit-normal types (Liability, Capital, Income) show a credit column. Total debit should equal total credit.
If the trial balance looks wrong
| You see | Usual cause |
|---|---|
| A sale on Sales Report but not here | No posted journal yet (draft invoice, Cash + auto-post, or auto-post off) |
| Draft journal you typed, missing here | Save and post. Drafts are on the ledger list, not on this statement |
| An account with a flipped sign | Wrong account type on the category — reports follow type, not the name |
| Empty this month but last month had activity | Trial balance starts at fiscal year start. Prior-year balances are not in this report |
Sales reports read invoices and payments. These three read posted journals. A finalized accrual invoice can appear on both. A draft invoice can appear on Sales Report and still be absent here. A Receipt Journal you typed can appear here with no matching Sales Report row.
Other guides in Reports