Financial statements
The profit and loss, cash flow, sales-tax summary and partial balance sheet FieldQuo builds from what it already records: the period and basis controls, what each line contains, why some lines say Unavailable, and who can open the page.
Financial statements arranges the rows FieldQuo already holds — invoices, payments, expenses, approved hours, pay runs, loans — into the four documents an accountant, a lender or a broker asks for. Its subtitle is the promise: “built from what FieldQuo already records. Every figure says what is inside it.” Nothing on the page is a new kind of number; every line can be opened to show what it is made up of, what it includes, and what it leaves out.
It is reached from the Financial statements link under the title of Insights, and from See the breakdown → on the KPI page's Cash section.
Overview
The page keeps two rules. First, the accounting basis is never implicit: you choose Cash or Accrual at the top, the choice is repeated as a full sentence above the figures, and the profit and loss names it again. Second, nothing renders as $0.00 unless zero is a fact — a line with nothing behind it reads None recorded, and a line FieldQuo cannot answer reads Unavailable with the reason, and contributes nothing to any total, which then reports itself incomplete.
Amended invoices are counted once, at the latest version's amount, dated from the original. A loan repayment is split the way a bookkeeper splits it: only the interest is a cost on the profit and loss; the principal is cash out and a smaller liability, never an expense.
What is on the screen
- Five period buttons — This month, Last month, This quarter, Year to date, Last year — and a From / To pair for any other range. Days are counted in UTC.
- Accounting basis — Cash (the default) or Accrual. Under it, the basis sentence and “{from} to {to}, in {currency}.”
- On the accrual basis, an amber banner: costs on this statement remain cash-recorded, because FieldQuo has no supplier-bill ledger, so revenue is accrual and costs are cash — read the two halves accordingly.
- The four statements — Profit and loss, Cash flow, Sales tax charged, Balance sheet (partial) — each line with a chevron that opens Made up of, Added up from, Includes, Does not include and Could not be included.
- Things that affect these figures at the bottom: hours still awaiting approval, approved hours worked by someone with no rate, a recurring overhead cost that is stored as one row and so appears in one period only, and timesheets that cost more than the pay runs approved.
A period with nothing in it at all — no payments, no invoices issued, no expenses, no approved hours, no pay runs — shows one sentence instead of four zeroed statements: that is an absence of records, not a period of zero activity.
The four statements
| Statement | What it contains | What it does not |
|---|---|---|
| Profit and loss | Revenue excluding tax; Materials, subcontractors and other job costs; Direct labour on jobs (approved hours at each person's rate); Cost of work done; Gross profit; Overhead (rent, insurance, vehicles, admin); Other operating costs; Wages not charged to a job (pay runs less the labour already on jobs); Loan interest; Net profit. | Income tax, depreciation on vehicles and tools, owner drawings, loan principal. |
| Cash flow | Money received (by method); Expenses paid; Wages paid (net of pay runs); Net movement from recorded activity; then, apart from it, the loan repayments the terms on file say are due, split into principal and interest. | Cash at bank, opening and closing — FieldQuo holds no bank balance and no bank feed. |
| Sales tax charged | Tax charged on invoices issued, tax inside the money actually received, and how many invoices charged tax, had it switched off, owed none, or say tax applies but charge none. | Anything filed or remitted, tax paid on purchases, a GST/QST split, tax on refunds. The page says so in as many words: this is not a tax return. |
| Balance sheet (partial) | Money owed to you (unpaid invoices, per invoice) and loans outstanding from the terms on file. | Cash, fixed assets, stock, supplier bills, tax owed, equity and every total — shown as Unavailable, so the sheet states on its face that it does not balance. |
Line labels and the reasons under an Unavailable line — “FieldQuo doesn't record this”, “Your access doesn't include everyone's pay” — are in English on every language's screen today. The headings, buttons and period names are translated.
Cash or accrual
Cash counts revenue as money received in the period and cost as money spent in it; an invoice raised and not yet paid is not revenue. It is the basis most owner-operators file on, and every figure on it is backed by a payment or an expense that actually happened. Accrual counts an invoice in the period it was issued, paid or not — but only for revenue. FieldQuo has no supplier-bill record, so the cost side stays cash-recorded, and the page says so above the totals rather than calling a mixed statement accrual.
Pick the basis your accountant files on and stay on it. A cash and an accrual statement for the same month legitimately show different revenue, and the first question anyone reading a statement asks is which one they are holding.
Who can see it
A profit and loss is the company's whole cost basis with the revenue beside it, so the gate is the widest in this group: the Job costing toggle, See prices, company-wide Expenses access and the ability to manage users. Of the shipped levels that is Manager, administrators and the owner. Crew, Estimator and Dispatcher are refused.
A Manager sees the page without payroll: Wages not charged to a job and Wages paid read Unavailable — “Your access doesn't include everyone's pay” — and every total containing them says incomplete, rather than quietly showing a profitable month with the wage bill missing.
Frequently asked questions
Can I download or print the statements?
No — there is no PDF or export button, and FieldQuo does not export your books as files. Your accountant can read the page with a login of their own, or work from each invoice's PDF. See What to hand your accountant.
Why does my March statement show no rent?
A recurring overhead cost is stored as one row, dated once, and appears only in the period that row is dated in. FieldQuo does not synthesise twelve rent rows nobody entered. The warning at the foot of the page says how many recurring commitments are on file and how many fall in the period.
Why does the balance sheet not balance?
Because it is partial and says so. FieldQuo does not know your bank balance, your fixed assets or your supplier bills, so total assets, total liabilities and equity are shown as Unavailable rather than as zero.
Why is a loan's interest Unavailable?
The loan has no interest rate recorded on Settings → Overhead. A zero rate cannot be told apart from a rate nobody typed, so the line says which loan is missing one instead of booking $0 of interest.
Was this helpful?