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Financial Statements

Purpose

QoopOne automatically generates key financial statements from your ledger data. These statements are used to understand the cooperative's financial position and performance, and are required for board meetings, audits, and regulatory submissions.

Who Can Access

  • Administrator
  • Accountant
  • Auditor (view only)
  • Manager (view only)

How to Open This Page

Finance → Accounting → (Select Report)

Available Financial Statements

Income Statement (Profit & Loss)

Finance → Accounting → Income Statement

Shows the cooperative's income and expenses for a period, resulting in a net surplus or deficit.

Key sections: - Income (Interest on loans, levy revenue, investment returns) - Expenses (Salaries, rent, administrative costs) - Net Surplus = Total Income − Total Expenses

Balance Sheet

Finance → Accounting → Balance Sheet

Shows the cooperative's financial position at a specific date.

Key sections: - Assets (Cash, loans outstanding, property, equipment) - Liabilities (Member savings, deposits, payables) - Equity / Reserves (Retained earnings, share capital)

The Balance Sheet must always balance: Assets = Liabilities + Equity.

Trial Balance

Finance → Accounting → Trial Balance

Lists every ledger account with its total debit and credit balance for the period. Used to verify the books are balanced before preparing financial statements.

Cash Flow Statement

Finance → Accounting → Cash Flow

Shows how cash entered and left the cooperative during a period:

  • Operating Activities — day-to-day cash flows
  • Investing Activities — purchases of assets, investments
  • Financing Activities — member deposits, loan disbursements

Generating a Financial Statement

  1. Navigate to the desired statement (e.g., Income Statement).
  2. Set the From Date and To Date.
  3. Click Generate or View Report.
  4. Use Export to PDF or Export to Excel to download.

Tips

Tip

Run the Trial Balance first before generating the Income Statement or Balance Sheet. If the Trial Balance is out of balance, there are unresolved journal entry errors.

Note

Financial statements reflect all transactions posted in QoopOne. Ensure all transactions for the period have been entered and the period is not yet closed.