Balance sheet report

Requirement

All registered companies must produce an annual return, which includes a balance sheet report that must be sent to the government.

In South Africa, Financial Reporting is controlled the Financial Reporting Standards Council (FRSC). The FRSC was formed in 2011 and replaces the Accounting Practices Board. In South Africa, these standards are used for reporting:

• Public companies report according to the Full IFRS standards.
• Private companies report according to the IFRS standards for SMEs.

M3 solution

With the M3 Financial Report Generator module (RGR), any type of official report can be formatted and produced from M3 General Ledger. The same reports can also be saved and used to provide the same information as an M3 online enquiry.

Both the Full IFRS standards and the IFRS standards for SMEs that are required for this country are supported.

Configuration guidelines

Program ID	Program name	Description or comment
RGR Module	Report Generator	As for the Profit and Loss report