The Liability Reports show information about your liabilities, broken down by general ledger (GL) account. For more information about GL accounts, see GL Accounts, and for more information about using reports, see Reports.
Liabilities represent amounts that you are obligated to pay or pay back at some point, such as government taxes, a customer's refundable security deposit, or a prepayment amount that can be applied to future invoices. A liability amount must first be paid by your customer for it to become your responsibility. For example, you are not liable for a company's security deposit until the company has paid the deposit.
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Depending on your assigned role and permissions, and the version of Kube your organization uses, some or all of these menus or services may not be available or displayed.
A liability amount must first be paid by your customer for it to become your responsibility. For example, you are not liable for a company's security deposit until the company has paid the deposit.
You can use the Company Overview dashboard to see the security deposit and prepayment amounts on file for a company. For more information, see Company Overview main information section.
Use reports from your accounting software for reporting purposes. Reports in Kube are for reference purposes only.
To view the Liability Reports, select Reports > Liability and select the report from the drop-down menu.
Liability Summary Report
The Liability Summary Report lists the amount you have collected for each of your liability GL accounts by month. The report totals monthly amounts for all liability GL accounts in the Grand Total row at the bottom of the report and yearly amounts for each liability GL account in the Total column.
Selecting a liability GL account in the Liability Summary Report brings up the Liability Detail Report that shows all of the paid invoice charges for the liability GL account you selected. See the following section of this article for more information about the Liability Detail Report.
The following graphic shows an example of the Liability Summary Report screen:
Liability Detail Report
The Liability Detail Report shows all of the paid approved invoice charges that make up the liability GL row you selected in the Liability Summary Report. Charge amounts total in the Grand Total row at the bottom of the report.
NOTE: To view the security deposits and prepayments on file for a company, visit the Company Overview screen.
The following graphic shows an example of the Income Detail by Account Report screen:
