A balance sheet is an essential document that provides a snapshot of the financial health of the association at a given moment. It outlines the assets (what the association owns) and liabilities (what it owes):
Balance Sheet
- Assets: cash, fixed assets, receivables.
- Liabilities: debts, obligations, equity.
With Kananas, generating this document takes just a few clicks. The platform aggregates all the financial data entered throughout the year to provide a complete and detailed balance sheet. Association leaders no longer need to handle complex spreadsheets or rely on external accounting software. The balance sheet is updated in real time, ensuring complete transparency for the general assembly or financial audits.
To generate the balance sheet, use the Balance Sheet button on the Finance/Analytics page.
Income Statement
The income statement is another essential document for any association. Unlike the balance sheet, it doesn’t present a financial position at a specific moment but over a defined period (usually one year). It measures the financial performance of the association by listing revenues (income) and expenses. The final balance shows whether the association had a surplus or deficit over the period.
With Kananas, creating the income statement is just as simple as generating the balance sheet. The platform produces the final document, ready to be presented to association members or funding organizations.
To generate the income statement, use the Income Statement button on the Finance/Analytics page.
