Compeat provides financial statement capabilities for your business in two ways: through built-in reports in Compeat, and through custom-built Excel functions that allow you to directly access your Compeat database and create custom reports in Excel.
You can view standard, Compeat-generated Balance Sheet and Profit & Loss reports using the Financial Statements report.
Alternatively, for greater flexibility, you can create a wide variety of financial statements (including Balance Sheet and Profit & Loss) of your own design in Excel using Compeat's eXcellent Financial Functions. The eXcellent Financial Functions are a custom-built set of Excel functions that provide the flexibility and speed essential to generating comprehensive financial reports. To set up Compeat to use these functions, see Installing eXcellent Financial Functions.
Using the eXcellent Financial Functions, you can create both standard financial statements (such as Profit and Loss, Balance Sheet, and Statement of Cash Flow) and customized statements that might be specific to your business (such as a Guest Count Trend Report, a Guest Check Average Report, and almost any other report that gets its data from the General Ledger). Because you build your own reports using the eXcellent Financial Functions in Excel, the reports you can produce are limited only by the information in your General Ledger and your imagination.
Because the financial reports are built in Excel, you can add color, charts, graphs, pictures, and the like to your reports. Additionally, you could easily embed a financial report in a Word document and maintain all of the links to the database, so the report data can be updated seamlessly each time you need to print the Word document. Also, you can create a template for a report you will re-use with only slight changes in data (for example, dates).
To create your financial reports, you should have some experience working with Microsoft Excel. Alternatively, you can contract Compeat for training on building financial statements.