Difference between Managerial and Financial StatementsManagerial: This is the standard (non-accounting) Income Statement showing the complete result for that month, displaying Sales / Cost / Gross Profit / Expenses, and finally, the net profit.Financial: This is the receipts vs. payments, everything received vs. everything paid; one complements the other. If I have a profit in the Managerial statement every month, I will automatically have a profit in the Financial statement.Note: If I have a profit in the Managerial statement and a loss in the Financial statement, it may be due to excessive purchases.
Introduction
The Data Entry system records managerial or financial transactions, storing information entered or imported by month and store. Only one transaction per period and store is allowed.