{"id":6109,"date":"2024-09-30T12:12:14","date_gmt":"2024-09-30T10:12:14","guid":{"rendered":"https:\/\/www.kananas.com\/en\/?page_id=6109"},"modified":"2026-05-27T14:41:42","modified_gmt":"2026-05-27T12:41:42","slug":"balance-sheet-and-income-statement","status":"publish","type":"page","link":"https:\/\/www.kananas.com\/en\/documentation\/accounting\/balance-sheet-and-income-statement\/","title":{"rendered":"Balance Sheet and Income Statement"},"content":{"rendered":"<div class=\"breadcrumbs align wp-block-bcn-breadcrumb-trail has-text-color has-background\" vocab=\"https:\/\/schema.org\/\" typeof=\"BreadcrumbList\">\n\t<span><\/span>\n\t<span property=\"itemListElement\" typeof=\"ListItem\"><a property=\"item\" typeof=\"WebPage\" title=\"Go to Kananas.\" href=\"https:\/\/www.kananas.com\/en\" class=\"home\" aria-current=\"page\"><span property=\"name\">Kananas<\/span><\/a><meta property=\"position\" content=\"1\"><\/span><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">A <strong>balance sheet<\/strong> 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):<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Balance Sheet<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Assets<\/strong>: cash, fixed assets, receivables.<\/li>\n\n\n\n<li><strong>Liabilities<\/strong>: debts, obligations, equity.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"roundDiv has-base-background-color has-background wp-block-paragraph\">To generate the balance sheet, use the <strong>Balance Sheet<\/strong> button on the Finance\/Analytics page.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Income Statement<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The income statement is another essential document for any association. Unlike the balance sheet, it doesn&#8217;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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With <strong>Kananas<\/strong>, 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.<\/p>\n\n\n\n<p class=\"roundDiv has-base-background-color has-background wp-block-paragraph\">To generate the income statement, use the <strong>Income Statement<\/strong> button on the Finance\/Analytics page.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"619\" src=\"http:\/\/www.kananas.com\/en\/wp-content\/uploads\/sites\/2145\/2024\/08\/Screenshot-2024-08-30-at-16-32-51-SOA-club-Accounting-_-Analytic-1024x619.png\" alt=\"\" class=\"wp-image-5886\" srcset=\"https:\/\/www.kananas.com\/en\/wp-content\/uploads\/sites\/2145\/2024\/08\/Screenshot-2024-08-30-at-16-32-51-SOA-club-Accounting-_-Analytic-1024x619.png 1024w, https:\/\/www.kananas.com\/en\/wp-content\/uploads\/sites\/2145\/2024\/08\/Screenshot-2024-08-30-at-16-32-51-SOA-club-Accounting-_-Analytic-300x181.png 300w, https:\/\/www.kananas.com\/en\/wp-content\/uploads\/sites\/2145\/2024\/08\/Screenshot-2024-08-30-at-16-32-51-SOA-club-Accounting-_-Analytic-768x464.png 768w, https:\/\/www.kananas.com\/en\/wp-content\/uploads\/sites\/2145\/2024\/08\/Screenshot-2024-08-30-at-16-32-51-SOA-club-Accounting-_-Analytic-1536x929.png 1536w, https:\/\/www.kananas.com\/en\/wp-content\/uploads\/sites\/2145\/2024\/08\/Screenshot-2024-08-30-at-16-32-51-SOA-club-Accounting-_-Analytic-2048x1238.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 id=\"learn-more-about-finance-management\" class=\"wp-block-heading\">Learn more about finance management<\/h3>\n\n\n<ul class=\"wp-block-page-list\"><li class=\"wp-block-pages-list__item\"><a class=\"wp-block-pages-list__item__link\" href=\"https:\/\/www.kananas.com\/en\/documentation\/accounting\/import-bank-statements-with-ai\/\">Import Bank Statements with AI<\/a><\/li><li class=\"wp-block-pages-list__item\"><a class=\"wp-block-pages-list__item__link\" href=\"https:\/\/www.kananas.com\/en\/documentation\/accounting\/transactions\/\">Transactions<\/a><\/li><li class=\"wp-block-pages-list__item\"><a class=\"wp-block-pages-list__item__link\" href=\"https:\/\/www.kananas.com\/en\/documentation\/accounting\/setting\/\">Setting<\/a><\/li><li class=\"wp-block-pages-list__item\"><a class=\"wp-block-pages-list__item__link\" href=\"https:\/\/www.kananas.com\/en\/documentation\/accounting\/tag-a-revenue-expense\/\">Tag a revenue or an expense<\/a><\/li><li class=\"wp-block-pages-list__item\"><a class=\"wp-block-pages-list__item__link\" href=\"https:\/\/www.kananas.com\/en\/documentation\/accounting\/balance-sheet-and-income-statement\/\">Balance Sheet and Income Statement<\/a><\/li><li class=\"wp-block-pages-list__item\"><a class=\"wp-block-pages-list__item__link\" href=\"https:\/\/www.kananas.com\/en\/documentation\/accounting\/new-exercice\/\">New exercise<\/a><\/li><li class=\"wp-block-pages-list__item\"><a class=\"wp-block-pages-list__item__link\" href=\"https:\/\/www.kananas.com\/en\/documentation\/accounting\/closing-account\/\">Closing account<\/a><\/li><li class=\"wp-block-pages-list__item\"><a class=\"wp-block-pages-list__item__link\" href=\"https:\/\/www.kananas.com\/en\/documentation\/accounting\/check-deposit\/\">Check Deposit<\/a><\/li><\/ul>","protected":false},"excerpt":{"rendered":"<p>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 With Kananas, generating this document takes just a few clicks. The platform aggregates all the financial data entered &#8230; <a title=\"Balance Sheet and Income Statement\" class=\"read-more\" href=\"https:\/\/www.kananas.com\/en\/documentation\/accounting\/balance-sheet-and-income-statement\/\" aria-label=\"Read more about Balance Sheet and Income Statement\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":4871,"menu_order":4,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-6109","page","type-page","status-publish"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.8 - aioseo.com -->\n\t<meta name=\"description\" content=\"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\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<link rel=\"canonical\" href=\"https:\/\/www.kananas.com\/en\/documentation\/accounting\/balance-sheet-and-income-statement\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 4.9.8\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"Kananas - association and membership management software\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"Balance Sheet and Income Statement - Kananas\" \/>\n\t\t<meta property=\"og:description\" content=\"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. 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