Run a financial report

See your profit and loss, balance sheet, trial balance, sales tax, aging, cash flow, vendor payments and a health check for any date range.

In the sidebar, open Bookkeeping, then Sales Tax & Reports. The page address is /bookkeeping/reports.

Before you start

• Reports only show what has been posted: categorized bank lines, expenses, invoices and payments. Categorize first if the numbers look thin; see Categorize bank transactions.
• Your role needs permission to read bookkeeping reports.

Steps

1. Set the date range with From and To at the top. They start at the first day of this year and today. Reports that are a snapshot in time, such as the balance sheet and aging, use the To date.
2. Pick a report from the row of tabs:
   • Profit & Loss: income and expenses by account with Net income at the bottom. Under Basis, choose Cash (the starting choice: counted when money moves) or Accrual (counted when invoiced or billed). Switch By account to By dimension (accrual) to split income and expenses by the work order a cost was charged to; everything else sits under (unassigned).
   • Balance Sheet: Assets, Liabilities and Equity as of the To date, with Current earnings, earlier years' retained earnings when there are any, and totals.
   • Trial Balance: every account's Debit or Credit balance. The last row says whether the books are balanced.
   • Sales Tax: Tax collected on sales, Input tax credits (ITC) and Net to remit for the range. See File and remit sales tax.
   • A/R · A/P Aging: under Show, pick Receivable (customers owe us) or Payable (we owe vendors). Amounts are grouped into current, 1–30, 31–60, 61–90 and 90+ days with Total outstanding, and each open document is listed with its due date and days overdue.
   • Cash Flow: Opening cash, operating, investing and financing activity, Net change in cash and Closing cash. Under Method, choose Direct or Indirect.
   • Vendor Payments: Total paid to each vendor in the range. Vendors at or over the threshold named above the table ($600) are flagged under Reportable for 1099-NEC or T4A slips.
   • Health Check: confirms Accounts Receivable and Accounts Payable agree with the open invoices and bills behind them. In balance is what you want to see.
3. Read the table. Change the dates or tab and the report reloads on its own.

What you see

• Amounts show in your organization's currency.
• Across the top sit Close the books (see Close the books for a period) and, when your role allows, the export buttons (see Export your books for your accountant) and Rebuild ledger.

If something looks different

• Trial Balance reads OUT OF BALANCE, or Health Check shows a Difference other than zero: a manual journal entry was posted straight to a control account, or a document skipped it. Look through your journal entries first; see Post a manual journal entry.
• Health Check says the difference is advisory and lists balances by currency: some older records are in another currency and cannot be totalled. That is expected for historical data.
• The report is empty for a range you know had activity: check Basis. On Cash, an unpaid invoice does not count yet.
• A closed fiscal year shows zero net income on Cash: the year-end closing entry is counted on that basis. Switch to Accrual for that year.
• The Document column in the aging list, or a row in By dimension (accrual), shows a code instead of an invoice or work order number: that is Nova's internal reference for the record.
• The numbers still look wrong after categorizing and your role can post journal entries: press Rebuild ledger, then Rebuild in Rebuild ledger?. Nova re-derives every posting from your invoices, payments and other source documents and shows Ledger rebuilt from source documents. It is safe to run again.

Open Reports