Read your financial statements
Because SKU.io keeps a full double-entry ledger, it can roll your entries up into the two statements every business lives by — an Income Statement (how you're performing) and a Balance Sheet (what you're worth) — with no exporting or spreadsheets.
Before you begin
- You need accounting entries to report on — see review the ledger.
Income Statement
- Go to Accounting → Reports → Income Statement.
- Set the Start Date and End Date, and a Period (month, quarter) to break the columns down over time.
- Read it top to bottom: Sales (your revenue), Direct Costs including Cost of Goods Sold, then Total Gross Income and Gross Margin — followed by expenses down to Net Income and Net Margin.
- Click Export to download it, or Refresh after posting more activity.
Balance Sheet
- Open the Balance Sheet tab.
- Set the As of Date — the balance sheet is a snapshot at a moment in time.
- It lists Assets (Inventory, Inventory In Transit, Accounts Receivable), Liabilities (Accounts Payable, Accrued Purchases), and Equity (retained earnings), with a Balance Check confirming assets equal liabilities plus equity.
Other reports
The same workspace has Accounting COGS (cost of goods sold in detail), GINR Balance (goods invoiced not received), and Lock exceptions for closed-period issues.
Next steps
- Review the ledger — drill from any figure into the entries behind it.
- Value your inventory — the inventory figure on your Balance Sheet, broken down.
Video transcript
Because SKU.io keeps a full ledger, it produces your financial statements on demand. The Income Statement shows your sales, cost of goods sold, and margin, month by month. The Balance Sheet is a snapshot of what you're worth — your inventory and receivables against what you owe — and it always balances.
At month end these statements are captured as the month's numbers of record — see month-end close.