# Standard Financial Statements Reference DualEntry produces four standard financial statements from your general ledger data: the balance sheet, income statement, statement of cash flows, and statement of stockholders' equity. All four generate in real time and share a common set of filtering, comparison, and export capabilities. ## Balance Sheet The balance sheet presents assets, liabilities, and equity as of a specific point in time. DualEntry derives each line from the balance sheet account types configured in your [chart of accounts](/accountants/core-financials/general-ledger/chart-of-accounts). You select a reporting date, and balances reflect every posted transaction through that date. You can drill from any line item to the underlying transactions - journal entries, payments, invoices, and bills - that compose the balance. Run the balance sheet for a single entity or at a consolidated level across multiple entities. When you run a consolidated report, DualEntry eliminates intercompany balances automatically based on your elimination rules. The balance sheet groups accounts into standard categories: current assets, non-current assets, current liabilities, non-current liabilities, and equity. You customize the grouping and line ordering to match your preferred presentation, and you add subtotals at any level. DualEntry formats the statement according to standard reporting conventions by default, so the output is ready for external distribution without manual reformatting. ## Income Statement The income statement (P&L) shows revenue and expenses for a defined period. You select a start date and end date, and DualEntry aggregates all income and expense account activity within that range. Comparison columns are built in. You add prior-month, prior-year, or [budget](/accountants/platform-configuration/budgeting-and-forecasting) columns alongside the current period and DualEntry computes the dollar and percentage variance for each line. Click any line to drill into the individual transactions behind that balance. You run the income statement at any level of detail - by natural account, by department or classification, or by customer or project. Multi-level grouping lets you nest dimensions, so you can view revenue by product line within each department. The income statement also supports year-to-date and quarter-to-date ranges, and DualEntry computes subtotals for gross profit, operating income, and net income based on your account type configuration. ## Statement of Cash Flows DualEntry generates the statement of cash flows using the indirect method by default. The report starts with net income and adjusts for non-cash items and working capital changes to arrive at cash from operations. Investing and financing sections are derived from GL data and account type mappings. You configure which accounts map to which cash flow category in the chart of accounts settings. DualEntry uses those mappings to classify every transaction automatically. If a transaction hits an account that lacks a cash flow mapping, DualEntry flags it for your review. You can also add supplemental disclosures - non-cash investing and financing activities such as capital lease obligations or stock-based compensation - as separate line items. The statement supports the same comparison columns available on the income statement, so you can view cash flows side by side across periods or against budget. ## Statement of Stockholders' Equity The statement of stockholders' equity summarizes changes in equity accounts over the reporting period. DualEntry pulls opening balances, net income, dividends, stock issuances, and other equity movements into a single schedule. The opening balances tie to the prior period's closing equity on the balance sheet. Each equity component - common stock, additional paid-in capital, retained earnings, treasury stock, accumulated other comprehensive income, and CTA - appears as its own column. DualEntry computes the period activity for each component automatically from posted transactions. You customize which equity accounts map to which column in the chart of accounts settings. The statement supports multi-period views so you can show rolling changes across quarters or years. ## Common Capabilities All four statements share the following features: - **Filtering**: narrow results by company or entity, period, and classification dimensions. - **Period comparison**: compare to prior periods or budget in side-by-side columns. - **Export**: download to PDF, Excel, or CSV from any report view. - **Presentation customization**: you adjust grouping, subtotals, and line ordering to match your preferred presentation. DualEntry formats statements according to standard reporting conventions by default. Each statement also supports drill-down from any line to the underlying transactions. You click a balance to see the journal entries, invoices, bills, and payments that compose it. Drill-down respects the same filters active on the statement, so you always see a consistent slice of data. All statements are available for individual entities or at the consolidated level, and consolidated reports apply intercompany elimination rules automatically. Consolidated reports across entities with different functional currencies require a reporting currency selection. See [multi-currency reporting](/accountants/reporting-analytics/multi-currency-reporting) for translation details. For ad-hoc analysis beyond the standard four, use the [custom report builder](/accountants/reporting-analytics/custom-report-builder). To bundle statements into a deliverable package, see [exporting and report groups](/accountants/reporting-analytics/exporting-and-report-groups).