Financial Reports

Why Financial Reports?

Reports transform your transaction data into meaningful insights. They answer critical questions:

• How much money do we have?
• Are we on budget?
• Where is money being spent?
• Do our books balance?

Regular reporting is essential for board oversight, member transparency, and audit preparation.

Background Report Generation

Some reports – especially those covering a full fiscal year or large transaction volumes – generate in the background using async jobs. When you request one of these reports, BeeKeeper will notify you when it’s ready. You can continue working while the report generates.

Available Reports

BeeKeeper provides a comprehensive suite of financial reports:

Core Financial Reports

Operational Reports

Vendor & Tax Reports

Balance Sheet

What It Shows

A snapshot of your organization’s financial position at a specific point in time:

• Assets: What you own (cash, receivables, investments)
• Liabilities: What you owe (credit cards, loans, payables)
• Equity: Net worth (assets minus liabilities)

The fundamental equation: Assets = Liabilities + Equity

Running the Report

1. Go to Reports
2. Select Balance Sheet
3. Choose the As Of Date (defaults to today)
4. Click Generate

Reading the Report

Assets Section Assets Checking Account $15,000 Savings Account $10,000 Petty Cash $200 Total Assets $25,200

Liabilities Section Liabilities Credit Card $500 Accounts Payable $1,200 Total Liabilities $1,700

Equity Section “` Equity Retained Earnings $20,000 Current Year P&L $3,500 Total Equity $23,500

Total Liabilities + Equity $25,200 ”`

If Total Assets doesn’t equal Total Liabilities + Equity, there’s an error in your books.

When to Use

• Monthly board meetings
• Year-end financial review
• Audit preparation
• Transition to new treasurer

Profit & Loss Statement

Also called an “Income Statement,” this shows financial performance over a period.

What It Shows

• Income: All revenue received
• Expenses: All money spent
• Net Income: Income minus expenses (profit or loss)

Running the Report

1. Go to Reports
2. Select Profit & Loss
3. Choose date range:
   • Start Date
   • End Date
4. Click Generate

Common Date Ranges

Reading the Report

Income Section Income Membership Dues $5,000 Fall Fundraiser $12,000 Donations $2,500 Total Income $19,500

Expenses Section Expenses Teacher Grants $8,000 Student Programs $3,500 Events $2,000 Administrative $500 Total Expenses $14,000

Bottom Line Net Income $5,500

Positive = surplus (income exceeded expenses) Negative = deficit (expenses exceeded income)

Budget Comparison

When you have an approved budget, the P&L can show:

This helps identify where you’re over or under budget.

When to Use

• Monthly treasurer reports
• Budget vs. actual analysis
• Event profitability review
• Grant reporting

Trial Balance

A trial balance lists all accounts with their debit and credit balances. It’s primarily used to verify your books are balanced.

What It Shows

Every account in your chart of accounts with:

• Total debits
• Total credits
• Net balance

If Total Debits ≠ Total Credits, there’s an error.

Running the Report

1. Go to Reports
2. Select Trial Balance
3. Choose the As Of Date
4. Click Generate

Reading the Report

Account Debit Credit Checking Account $15,000 Savings Account $10,000 Credit Card $500 Membership Income $5,000 Office Expenses $1,500 ... Totals $26,500 $26,500

When to Use

• Troubleshooting balance sheet errors
• Audit preparation
• Year-end close
• Account reconciliation

Most users rarely need this report - it’s a diagnostic tool.

Budget vs. Actual Report

Compares your approved budget to actual income and expenses.

What It Shows

For each budgeted account:

• Budgeted Amount: What you planned
• Actual Amount: What actually happened
• Variance: The difference (over or under budget)

Running the Report

1. Go to Reports
2. Select Budget vs. Actual
3. Choose the Fiscal Year
4. Click Generate

Requires an approved budget for the selected fiscal year.

Treasurer’s Report

A meeting-ready summary designed for board presentations. This report pulls together the most important financial data your board needs to see, formatted for easy reading and discussion.

What It Shows

• Summary of financial position (cash balances across all accounts)
• Key income and expense totals for the reporting period
• Budget vs. actual highlights showing where you stand
• Formatted cleanly so you can present it directly at meetings without further preparation

Running the Report

1. Go to Reports
2. Select Treasurer’s Report
3. Choose the date range
4. Click Generate

When to Use

• Regular board meetings (monthly or quarterly)
• General membership meetings
• Any time you need a quick, professional financial overview

Annual Financial Review

A comprehensive fiscal year review document designed for year-end board presentations and compliance. This report is available in both HTML and PDF formats.

What It Shows

• Bank Reconciliation Status: Whether each bank account has been reconciled and current status
• Beginning Balances: Starting balances for the fiscal year across all accounts
• Payment Verification: Flags missing receipts, missing vendors, and missing reference numbers on payments
• Deposit Verification: Reviews deposits for completeness and proper documentation
• Income/Expense Allocation vs. Budget: How actual income and expenses compare to the approved budget across all categories

Running the Report

1. Go to Reports
2. Select Annual Financial Review
3. Choose the Fiscal Year
4. Click Generate

This report may generate in the background due to the volume of data involved. You will be notified when it is ready.

When to Use

• Year-end board presentations
• Annual compliance review
• Treasurer transition (outgoing treasurer hands off to incoming)
• Audit preparation
• Filing alongside Form 990-EZ

See Annual Financial Review for a detailed breakdown of each section.

Audit Report

A compliance dashboard that consolidates the key data points an auditor or audit committee needs to review in one place. Available as a dedicated page in BeeKeeper.

What It Shows

• Account Summary: Overview of all accounts and their current balances
• Bank Reconciliation: Status of reconciliation for each bank account
• Journal Entry Audit: Flags journal entries with missing receipts or missing vendors
• Vendor & 1099 Summary: Vendor payment totals and 1099 filing readiness
• Budget Compliance: How actual spending compares to the approved budget

When to Use

• Internal audit committee reviews
• Year-end compliance checks
• Preparing for an external audit
• Ongoing financial hygiene monitoring

Vendor Payment Reports

Vendor Payment Summary

Shows total payments to each vendor over a date range. Useful for year-end review and 1099 preparation.

Vendor Payment Detail

Shows itemized payments to each vendor with transaction dates, descriptions, and amounts.

Running Vendor Reports

1. Go to Reports
2. Select Vendor Payment Summary or Vendor Payment Detail
3. Choose the date range
4. Click Generate

Form 1099-NEC Preparation

Identifies vendors who may need a 1099-NEC form (paid $600 or more in a calendar year).

What It Shows

• Vendor name and EIN/TIN
• Total payments for the calendar year
• 1099 threshold status ($600+)

Running the Report

1. Go to Reports
2. Select Form 1099-NEC
3. Choose the Calendar Year
4. Click Generate

Note: This is a preparation tool. You must still file 1099-NEC forms with the IRS separately.

Duplicate Check Number Report

Identifies journal entries with duplicate reference numbers, which may indicate duplicate payments.

Running the Report

1. Go to Reports
2. Select Duplicate Check Number
3. Review any flagged duplicates and investigate

Exporting Reports

All reports can be exported in multiple formats:

HTML

• Opens in browser
• Print-friendly layout
• Good for quick sharing

PDF

• Fixed format document
• Professional appearance
• Ideal for board packets and archives

XLSX (Excel)

• Editable spreadsheet
• Add your own analysis
• Create charts and graphs

CSV

• Raw data format
• Import into other systems
• Maximum flexibility

How to Export

1. Generate the report
2. Click the Export dropdown
3. Select your format
4. File downloads automatically

Report Best Practices

Run Reports Consistently

• Same reports each month
• Same date ranges
• Build trends over time

Keep Archives

• Export and save key reports
• Monthly P&L and balance sheet minimum
• Store securely for audit

Share Appropriately

• Board gets full reports
• Members get summary versions
• Protect detailed transaction data

Review for Accuracy

Before presenting, verify:

• [ ] Date ranges are correct
• [ ] All transactions are categorized
• [ ] Balances match bank statements
• [ ] No unusual entries

Tips by User Role

Treasurers

• Run reports before each board meeting
• Compare to prior periods
• Explain significant variances
• Keep monthly archives

Board Members

• Request reports in advance
• Ask questions about variances
• Compare to budget regularly
• Ensure fiscal responsibility

Auditors

• Request full fiscal year reports
• Need trial balance for verification
• May want transaction-level detail
• Verify against bank statements

Date Range Filtering

All date-based reports support flexible date range filtering with common presets:

• This Month / Last Month
• This Quarter / Last Quarter
• This Fiscal Year / Last Fiscal Year
• Custom date range

Limitations

• Reports show posted transactions only (not pending imported transactions)
• Date ranges limited to your organization’s data
• Budget vs. Actual requires an approved budget
• Form 1099-NEC requires vendor EIN data to be complete
• Custom report layouts not supported

Common Questions

Why doesn’t my balance sheet balance? Usually a transaction wasn’t recorded correctly. Run a trial balance to identify the discrepancy.

Can I see multiple years on one report? Not currently. Run separate reports and compare manually or in Excel.

Why are some accounts missing from reports? Accounts with zero balance may be hidden. Some reports show only accounts with activity.

How do I report on a specific event? Use date range and filter by accounts associated with that event. May need to use consistent account naming.

Can I customize report columns? Export to Excel and modify as needed. In-app customization not available.

Are reports real-time? Reports reflect all saved transactions. If you just entered something, it’s included. Some larger reports generate in the background – you will be notified when they are ready.