Acra Financial Statements are a great way to track and manage your business’s income and expenses. Acra is an easy-to-use tool for accountants, bookkeepers, small business owners, or anyone who needs help managing their finances.
In this article, we will walk you through how to read an acra financial statement.
There are many ways Acra can help you manage your finances, and we encourage you to ask questions about how it works or whether it’s right for your business if this is the first time you’ve heard of us.
The acra financial statements provide key details that will allow an accountant, bookkeeper, or small business owner to quickly aggregate all the business data from acra. This is a great way to help balance your books and prepare tax documents when they are due!
In general, an Acra financial statement contains:
The total of sales made by the company during the reporting period (in this example, it would be January 2015)
- Amounts and dates for each transaction;
- Details about debits and credits (for example, “Salary” and “Fees — Legal Services”);
- Corresponding names for debits and credits (for example, “Joe Smith” or “Legal Services — Fees LLC”);
- The account balance at the end of each month; and
- A list of all transactions that were not posted to an existing ledger.
In conclusion, Acra financial statements are a great way to keep track of your business’s income and expenses.