What it does
Phocas Financial Statements turns data from business accounting systems into interactive financial reports, with budget comparisons, consolidated views and transaction detail. Finance teams can add reporting journals without waiting for the next data build. It is sold through an annual named-user subscription, with implementation and platform fees.
Phocas Financial Statements helps finance teams investigate the figures behind their reports. Build statements for income, financial position and cash movements, with earlier periods available for comparison. Actual-versus-budget comparisons show both amount and percentage differences. A report can expand into a branch, product or underlying transaction, while layouts and formulas support the way the business presents its accounts.
Multi-company reporting includes currency conversion and intercompany elimination. AI-assisted account mapping proposes where accounts belong, with changes waiting for your approval.
Add a reporting adjustment
A user needs Financial Statements > Data entry permission. In a statement, open Settings > Create journal to start with that statement's database, or use Data entry > Create journal from the home page and choose the database.
Name the journal and fill the required grid fields. Each line needs a date, account and at least one value, and the journal must balance. Multi-currency data can require both local and reporting values. Closing the editor saves a draft for later work.
After Publish, the journal is available to reports immediately without another database build. Add its stream to the relevant reporting scenario. A published journal cannot be edited or deleted; duplicate it or reverse it when a correction is needed.
These are adjustments to Phocas reports. Update the originating accounting system separately when that adjustment also belongs in its books. Intercompany elimination requires an elimination entity to be set up first.
Subscription and setup
Request a demonstration using the accounting system and reporting needs shown on the booking form. Phocas charges an annual subscription based on named users, plus a one-off implementation fee and an annual platform fee. The platform fee covers items such as data automation, reports, support and training.
The required data sources and their condition affect implementation. Phocas assesses that scope with the organization before confirming the timetable and price.
Strengths
- Reports can drill from a financial statement into operating dimensions and transaction detail.
- Published journals become available without waiting for a new database build.
- Proposed account mappings wait for approval before changing the reporting structure.
Watch out for
- Published journals cannot be edited or deleted directly.
- A Phocas reporting adjustment does not update the originating accounting system.
- The subscription also involves implementation and annual platform charges.
Best for
- Finance teams sharing interactive financial reports with budget owners
- Multi-company organizations consolidating data from business accounting systems
Sources
- Phocas Financial Statements (Oct 27, 2026)
- Create a Phocas reporting journal (Oct 27, 2026)
- Phocas reporting journals and accounting-system boundaries (Oct 27, 2026)
- Phocas demonstrations, subscription fees and implementation (Oct 27, 2026)