What is Financial Statements?
- Financial Statements
- Financial Statements are the formal reports of a company's financial performance and position: the Balance Sheet, Profit & Loss Statement, and Cash Flow Statement.
The Three Core Statements
Balance Sheet (as at a date): Assets = Liabilities + Equity — shows the financial position. P&L Statement (for a period): Revenue − Expenses = Net Profit — shows performance. Cash Flow Statement (for a period): shows actual cash movement by activity type. Together they give a complete financial picture.
Financial Statements from ERPNext
All three statements are generated live from ERPNext's General Ledger. No separate preparation is needed — the data is always current. Indian companies must prepare statements per Companies Act Schedule III format, which ERPNext's Balance Sheet and P&L reports follow.
Infonoxe Technologies specialises in ERPNext implementation and custom software for Indian businesses.
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