Where do financial statements get their numbers?
Financial statements only use data from the general ledger. All G/L entries for a fiscal period are reflected on either the Balance Sheet or Income Statement for that period. Besides the entries which are job-related, overhead invoices and checks, miscellaneous billings and journal entries are posted to the G/L. Journal entries for salary expense or for Work in Progress are examples of costs and income on the G/L, but not the job ticket. The criteria used to print the statements is the fiscal period.
