Course Content

Total learning: 10 lessons Time: 6 hours

Intro To Financial Reports

In this lesson, we guide you through the basics of financial reporting. We’ll provide an overview of the accounting process and how it is used in the financial reports for your organization. Then we will take an in-depth look at some core financial statements and the most common types of reports. You’ll learn how they provide you with the information you need to make informed decisions for your organization.

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We will cover the following topics and have noted the timestamps if you wish to skip ahead to review a specific area:

How Financial Reports Are Built

Think of reports as answers to questions someone might have about your organization’s financial activity, position, behavior, and stewardship. Reports use the data stored in Aplos to answer those questions. You can customize reports for your organization, print or export them, or email them directly to your board or staff members.

How An Account Structure Is Used For Financial Reports [2:33]

Customizing Your Chart Of Accounts

Your chart of accounts is essentially a list of categories you use when recording transactions that are used on your financial reports. You can create your accounts and sub-accounts, and then group them together by type. Go to your chart of accounts in Aplos. View the resource on setting up a chart of accounts.

Accounting Tags

Accounting tags allow you to further categorize your transactions in order to see more detailed information on your reports. Tags are an add-on feature in the Aplos Software Suite. For more information, check out the lesson on Financial Reporting Using Tags. Go to your accounting tags in Aplos. View the resource on accounting tags.

Transactions

With each transaction you enter, you add financial data that populates your financial reports. You can record transactions in various ways, including the account register and journal entries. Go to your account register or your journal entries in Aplos. View the resource for recording transactions.

Common Financial Reports

The most common financial reports are the Income Statement and Balance Sheet. We’ll look at how to create and filter these reports and more, and what information these reports tell you about your organization:

Income Statement [13:05]

  • Income Statement
  • Income Statement By Fund
  • Comparative Income Statement
  • Income Statement By Month

Balance Sheet And Fund Balances [26:17]

  • Balance Sheet
  • Balance Sheet By Fund

Budgeting Reports [34:57]

  • Budget To Actual
  • Comparative Budget To Actual

Go to your reports in Aplos. View the resource on generating reports.