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Financial Statements Overview and Setup

Tags: accounting, Financials

The Financial reporting section of OnSite allows Users to perform a variety of functions which are listed below.

Flash Financials: Profit/Loss statements or Balance Sheets can be created for specific and sometimes non-conventional periods of time. Flash Financials can be performed anytime and are NOT tied into the closing of months. 

Close Months: Closing Months prohibits any User from making changes to General Ledger Transactions within the period closed. Financial Statements are associated with each Closed Month.

Budgets: Budgets are used to track sales and expenses and to compare them to other budgets or to Flash or Closed Month Financials. OnSite allows Users to store as many Budgets as they need in the system.

Lock Months: This is a new feature in OnSite that allows Users with specific Access Rights to stop all Users from making ledger entries in specific sections during the specified month. No Profit/Loss statement or Balance Sheet information get created with this feature.

                  Financial Overview and Setup