Financial Statement Reporting

Okay, now we have come to the end of the topic. Now we have done the outgoing payment.

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Okay, let us check the financial statement, how it looks. You know how to go to the financial statement, right? Let me just do something first. Let me just not display the accounts with zero balance. You see I have cost of sales and a profit of 1500. Where are our trade debtors and trade creditors?

Wait, You can’t see it, right? The reason being, both the accounts are zero. and unless you set this flag here, it will never show zero balance accounts. Okay, let me show you the trade debtors and trade creditors. Both are zero, which means we have no accounts payable and accounts receivable. All are fully paid and this is fully received.

All right. This is the final standing of our financial statement. This is the end of the basic training, and we go for advanced training session afterward in a separate training session altogether. Let me close this. Before that, let me just show you the diagram.

 

 

Yeah. We have seen all this data flow. Okay, just bear in mind. These are what typically happens in a company. These are the dealings with external entities like customers and vendors. Okay, let me close the topic.

 

You may watch the full course on the following YouTube link

https://www.youtube.com/watch?v=BsrVyTC6bZc&list=PLN17Nn94liux88cwVwqbiRQQo1qK4sOdQ&index=11&pp=iAQB