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Trial balance in. Financial statements out.

A client uploads a trial balance and gets a Profit & Loss and Balance Sheet back automatically, in UK or Singapore format, with a balance check. It all runs in their browser, so nothing they upload ever leaves their device.

Financial statements · live demo

A trial balance, turned into a Profit & Loss and Balance Sheet automatically. Everything runs in your browser.

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The statements balance.

Net assets £66,100 = capital and reserves £66,100

Profit & Loss

Turnover

Online Sales£250,000
Other Sales£20,000
Total turnover£270,000

Cost of sales

Cost of Goods Sold£110,000
PayPal Fees£6,000
Total cost of sales£116,000
Gross profit£154,000

Administrative expenses

Advertising & Marketing£18,000
Salaries£60,000
Rent£24,000
Utilities£4,000
Insurance£3,000
Audit & Accountancy fees£2,500
Telephone & Internet£1,500
Total administrative expenses£113,000
Operating profit£41,000
Profit for the financial year£41,000

Balance Sheet

Fixed assets

Computer Equipment£12,000
Less Accumulated Depreciation on Computer Equipment(£4,000)
Motor Vehicles£20,000
Less Accumulated Depreciation on Motor Vehicles(£6,000)
Total fixed assets£22,000

Current assets

Accounts Receivable£30,000
Prepayments£2,000
Business Account (1)£74,600
Cash£1,000
Total current assets£107,600

Creditors: amounts falling due within one year

Accounts Payable£22,000
VAT£8,000
PAYE Payable£3,500
Net current assets£74,100
Total assets less current liabilities£96,100

Creditors: amounts falling due after more than one year

Loan£30,000
Net assets£66,100

Capital and reserves

Capital - Ordinary Shares£100
Retained Earnings£25,000
Current year earnings£41,000
Total capital and reserves£66,100
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