P&L, Balance Sheet & Trial Balance
These are the reports that tell you how your business is really doing. Clorvia builds them from your invoices, payments, expenses, and ledger.
Profit & Loss (P&L)
The Profit & Loss shows your income minus expenses over a period — your profit (or loss). Use it to answer “did we make money this month/quarter/year?”
- Income — sales and other revenue
- Expenses — purchases, rent, salaries, and so on
- Net profit — what’s left over
Balance Sheet
The Balance Sheet is a snapshot of what your business owns and owes at a point in time:
- Assets — cash, bank, receivables, fixed assets
- Liabilities — payables, GST due, loans
- Equity — the owner’s stake
Assets always equal liabilities plus equity — that’s the accounting balance.
Trial Balance
The Trial Balance lists every ledger account with its debit or credit balance. It’s the bridge between your day-to-day transactions and your P&L/Balance Sheet, and a quick way to check the books are in order (total debits equal total credits).
Where the numbers come from: every invoice, payment, and expense feeds your ledger accounts (Accounting). These reports simply summarise those ledgers — so the more consistently you record transactions, the more accurate your reports.
Choosing the period
Set the date range to view a month, quarter, or financial year — handy at filing time or for a board update.
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