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<< Click to Display Table of Contents >> Navigation: MLS 2026 Fully Integrated Accounting > General Ledger > General Ledger Reports |
The General Ledger reports provide a complete financial picture of your business.
These reports help you:
•Monitor profitability
•Review expenses
•Verify accounting accuracy
•Evaluate financial stability
•Identify trends and problems early
Many businesses review selected reports:
•Weekly
•Monthly
•Quarterly
•Yearly
The more consistently these reports are reviewed, the easier it becomes to make informed business decisions.
The Chart of Accounts report provides a complete sequential listing of all General Ledger accounts established in the system.
The report includes:
•Section headings
•Account titles
•Subtotals
•Grand totals
•Account structure
If configured correctly:
•Main sections print in bold capital letters
•Accounts appear beneath each section
•Subtotals appear indented below grouped accounts
•Grand totals appear at the end of each section
This formatting helps visually organize the accounting structure.
The Chart of Accounts is:
•The foundation of the accounting system
•A reference for all account numbers
•A valuable planning and troubleshooting tool
It is recommended that businesses:
•Print a copy periodically
•Keep a reference copy available
The Account Summary report displays:
•Account number
•Account title
•Year-to-date totals
•Current period totals
•Budget comparisons
•Percentage of budget used
•Prior-year comparisons
This report is extremely useful for:
•Monitoring financial trends
•Comparing performance over time
•Evaluating budget effectiveness
Management often reviews:
•Whether income is increasing
•Whether expenses are rising
•Whether budgets are being exceeded
Examples:
•Falling income may indicate declining business activity
•Rising expenses may suggest operational inefficiency
This report helps identify those problems early.
The Trial Balance verifies the integrity of the General Ledger.
It includes:
•Beginning balances
•Debit totals
•Credit totals
•Ending balances
Optional detail listings may also include:
•Individual transactions
The Trial Balance is one of the most important accounting verification reports.
It is commonly run:
•Before closings
•During audits
•When troubleshooting balancing issues
The Trial Balance helps verify:
Total Debits=Total CreditsTotal\ Debits = Total\ CreditsTotal Debits=Total Credits
If the totals do not match:
👉 the ledger is out of balance.
Many businesses:
•Run Trial Balances weekly
•Perform smaller, more frequent closings
This makes troubleshooting dramatically easier because:
•fewer transactions must be reviewed
This report lists all General Ledger transactions within a specified date range.
Each transaction includes:
•Account number
•Date
•Debit amount
•Credit amount
•Reference information
This report is especially valuable for:
•Troubleshooting
•Locating unclosed transactions
•Identifying invalid accounts
•Reviewing posting activity
A wide date range such as:
01/01/1980 – 12/31/2099
can be used to display:
•all remaining transactions
•uncleared activity
•orphaned postings
The Profit & Loss Statement summarizes:
•Income
•Cost of Goods Sold
•Operating Expenses
•Net Profit or Loss
The report also displays percentages showing how much each category contributes to the overall totals.
This report helps management understand:
•Where money is earned
•Where money is spent
•Which areas are profitable
•Which expenses may be excessive
Profit=Income−ExpensesProfit = Income - ExpensesProfit=Income−Expenses
The Profit & Loss Statement is one of the best management tools in the system.
It can help identify:
•Excessive expenses
•Weak sales areas
•Improving profit opportunities
•Operational inefficiencies
Even small expense reductions can significantly improve profitability over time.
The Balance Sheet summarizes:
•Assets
•Liabilities
•Owner’s Equity
It also displays percentages showing how each account contributes to the section totals.
The Balance Sheet is the primary report used to evaluate:
•Financial stability
•Debt levels
•Available cash
•Overall business health
The Balance Sheet reflects:
Assets=Liabilities+Owner′s EquityAssets = Liabilities + Owner's\ EquityAssets=Liabilities+Owner′s Equity
One of the most important areas to monitor is:
👉 liquid assets (cash availability).
Strong cash flow:
•reduces stress
•improves purchasing flexibility
•helps avoid excessive debt
The Account Auditor creates a detailed transaction listing for a single General Ledger account.
The report includes:
•All transactions
•Date ranges
•Debit and Credit activity
•Reference information
This report is extremely useful when:
•Researching discrepancies
•Reviewing account history
•Verifying adjustments
•Investigating unusual activity
The Formula reports automatically calculate common accounting ratios using General Ledger data.
Reports may be generated for:
•Monthly
•Quarterly
•Year-to-date periods
MLS 2026 calculates:
•Current Ratio
•Quick Ratio
•Average Collection Period
•Return on Equity
•Gross Profit Margin
•Net Profit on Sales
•Return on Assets
•Debt to Net Worth
Financial ratios help evaluate:
•Profitability
•Liquidity
•Debt levels
•Operational efficiency
•Financial strength
These ratios are often used by:
•Accountants
•Banks
•Investors
•Business managers
Measures the ability to pay current liabilities using current assets.
Desired guideline:
Current Ratio≥2:1Current\ Ratio \geq 2:1Current Ratio≥2:1
Measures immediate debt-paying ability using:
•Cash
•Securities
•Accounts Receivable
Desired guideline:
Quick Ratio≥1:1Quick\ Ratio \geq 1:1Quick Ratio≥1:1
Measures the relationship between:
•Borrowed funds
•Owner investment
Desired guideline:
Debt to Net Worth≤1.0Debt\ to\ Net\ Worth \leq 1.0Debt to Net Worth≤1.0
This report prints General Ledger summaries from archived prior years.
MLS 2026 stores historical yearly data files automatically.
Example file names:
Historical reporting allows businesses to:
•Compare yearly performance
•Analyze long-term trends
•Review prior financial conditions
•Prepare tax and audit information
•Review financial reports regularly
•Run Trial Balances before closings
•Monitor trends, not just totals
•Investigate unusual changes immediately
•Maintain archived reports for historical comparison
Financial reports are not just accounting paperwork.
They are management tools that help business owners:
•Understand profitability
•Control expenses
•Improve operations
•Protect long-term financial stability
The more consistently these reports are reviewed, the more valuable they become.