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Financial Reports

Books generates financial reports in real-time from your general ledger data. All standard financial statements are available, plus MSP-specific reports for client profitability and recurring revenue analysis.

Standard Financial Statements​

Income Statement (Profit & Loss)​

Shows revenue, expenses, and net income for a period.

  • Revenue — All revenue accounts (4000-4999)
  • Cost of Goods Sold — Direct costs (5000-5999)
  • Gross Profit — Revenue minus COGS
  • Operating Expenses — All expense accounts (6000-6999)
  • Net Income — Gross profit minus operating expenses, plus/minus other income/expense

Access: Reports > Income Statement

Filter by date range, entity, or department. Compare periods side-by-side (e.g., this month vs. last month, this year vs. last year).

Balance Sheet​

Shows assets, liabilities, and equity at a point in time.

  • Assets — Current assets (cash, AR, inventory) + fixed assets
  • Liabilities — Current (AP, credit cards) + long-term
  • Equity — Owner's equity + retained earnings + net income

Access: Reports > Balance Sheet

The balance sheet always balances: Assets = Liabilities + Equity.

Cash Flow Statement​

Shows cash inflows and outflows by category:

  • Operating Activities — Cash from day-to-day operations
  • Investing Activities — Cash from buying/selling assets
  • Financing Activities — Cash from loans, equity, distributions

Access: Reports > Cash Flow

Trial Balance​

Lists every GL account with its debit or credit balance. The sum of all debits must equal the sum of all credits.

Access: Reports > Trial Balance

Use the trial balance to verify your books are in balance before generating financial statements.

Accounts Receivable Reports​

AR Aging​

Shows outstanding invoices grouped by age:

BucketDescription
CurrentNot yet due
1-30 days1-30 days past due
31-60 days31-60 days past due
61-90 days61-90 days past due
90+ daysMore than 90 days past due

Access: Reports > AR Aging

💡Review AR aging weekly. Follow up on invoices in the 31-60 day bucket before they become harder to collect.

Accounts Payable Reports​

AP Aging​

Shows outstanding bills grouped by age, using the same buckets as AR aging.

Access: Reports > AP Aging

MSP-Specific Reports​

Revenue by Client (Client P&L)​

Shows revenue and direct costs per client, calculating profitability:

  • Revenue from invoices
  • Direct costs (billable expenses, subcontractor time)
  • Gross margin per client

Access: Reports > Client P&L

MRR Waterfall​

Tracks monthly recurring revenue changes:

  • New MRR — Revenue from new clients
  • Expansion MRR — Revenue increase from existing clients
  • Contraction MRR — Revenue decrease from existing clients
  • Churned MRR — Revenue lost from departed clients
  • Net MRR Change — Total change

Access: Reports > MRR Waterfall

Consolidated Reports​

For organizations with multiple entities:

  1. Navigate to Consolidated Reports
  2. Select which entities to include
  3. Books generates consolidated financial statements with intercompany eliminations
ℹ️Consolidated reporting requires at least two entities configured under your organization.

Exporting Reports​

All reports can be exported:

  • PDF — Formatted for printing or sharing
  • CSV — Raw data for spreadsheet analysis

Click the Export button on any report and select the format.

Scheduled Report Delivery​

Set up automatic report delivery:

  1. Open any report
  2. Click Schedule
  3. Set the frequency (daily, weekly, monthly)
  4. Enter recipient email addresses
  5. Reports are delivered via Relay

Next Steps​