PROSPERO FINANCIALS

Financial Statements

Prospero's Financial Statements pull directly from every posted transaction in the system — invoices, bills, payments, journal entries — into a live Income Statement and Balance Sheet. Pick a period, pick a basis, and it's there. No template to maintain, no numbers to reconcile from three different tools first.

Everything you need to see where you stand, built in.

1. Income Statement and Balance Sheet, always current

Every posted invoice, bill, payment, and journal entry feeds straight into both statements — run either one for any date range, as of any moment, with no separate close process required to see current numbers.

2. Cash or accrual, one toggle

Switch between cash-basis and accrual-basis reporting instantly. Accrual recognizes revenue and expense at invoice or bill date; cash recognizes it when money actually moves — both run off the same underlying data.

3. A Balance Sheet that has to balance

Assets always equal Liabilities plus Equity, checked and displayed on every report. If it doesn't, that's a real signal something in the ledger needs attention — not a rounding footnote to shrug off.

4. Filter by entity, location, or department

See the whole company or narrow down to a single business unit, office, or cost center — the same report, filtered to just the numbers you need for that conversation.

5. Only Posted transactions ever show up

Draft invoices, unapproved bills, and unposted journal entries never leak into a financial statement — what you see is exactly what's been reviewed and recorded, nothing pending.

Built for anyone who needs real numbers, right now.

Business owners — check where you stand without waiting for a monthly close or a call with your bookkeeper.

Bookkeepers and accountants — hand a client a current, correct statement in the exact format and basis they need, on demand.

Multi-location or multi-entity businesses — see the consolidated picture or drill into a single location without maintaining separate books.

If "how are we doing this quarter" currently means a few hours of pulling numbers together, this is what replaces that afternoon.

From blank screen to statements, in three steps.

Step 1 — Set the period and basis

Choose a date range and pick cash or accrual basis. Add an entity, location, or department filter if you want to narrow the view.

Step 2 — Run the report

The Income Statement and Balance Sheet build instantly from every Posted transaction through that date.

Step 3 — Export if you need to

Send it to Excel or CSV for a board package, a lender, or your own further analysis.

Built from the ledger, not a copy of it.

Financial Statements in Prospero don't pull from a separate reporting database or a nightly sync — they're calculated directly from the same journal entries every other part of the system posts to. An Income Statement you run at 9am reflects an invoice someone posted at 8:59.

FAQ's

What's the difference between cash and accrual basis here?

Cash basis recognizes revenue and expense when money actually moves — a payment received or a bill paid. Accrual basis recognizes it at the invoice or bill date instead, regardless of when cash changes hands. Toggle between them on the same report.

Why doesn't a Draft invoice or bill show up in my numbers?

By design. Only Posted and Sent/Approved transactions are recognized — Draft items haven't been reviewed and finalized yet, so they're excluded until they are.

Can I see just one location or department's numbers?

Yes. Filter the same Income Statement or Balance Sheet by entity, location, or department to see a single business unit on its own.

What if my Balance Sheet doesn't balance?

It's designed to always balance if every posting followed normal double-entry rules. If it doesn't, that's worth investigating immediately — usually traceable to a specific out-of-balance entry.

Can I export to Excel?

Yes — every report can be exported to Excel or CSV directly from the Financials screen.

Stop reconstructing your numbers every time someone asks.

Turn to Financials and see exactly where you stand, right now.