Balance Sheet

Overview

The Balance Sheet feature in the system is designed to generate a comprehensive report of assets, liabilities, and equity for a specific month and year. This feature fetches transactions for the specified period, categorizes them into assets, liabilities, and equity, and calculates the total values for each category.

Components and Flow

  1. API Endpoints:

    • Fetch Balance Sheet Data:
      • Retrieves balance sheet data for a specific month and year.
      • Method: GET
      • Endpoint: /finance/reports/balance-sheet

  2. Database Models:

    • Transactions Table:
      • Stores information about financial transactions, including date, amount, account, and category.
    • Categories Table:
      • Stores information about transaction categories, including name and type (asset, liability, equity).
    • Accounts Table:
      • Stores information about accounts, including names.

  3. Implementation Details:

    • fetchBalanceSheetData Function:

      • Fetches all transactions for the specified period.
      • Fetches categories and accounts to get names and types.
      • Aggregates transactions into assets, liabilities, and equity based on categories.
      • Calculates the total values for each category.
      • Returns the aggregated data in a structured format.

    • BalanceSheet Component:

      • Displays the balance sheet data.
      • Uses React state to manage loading and data.
      • Fetches balance sheet data on component mount.

Flow Diagram (Tree-like and Linear)

Users/Clients
    |
    +---> API Endpoints
             |
             +---> Fetch Balance Sheet Data (GET /finance/reports/balance-sheet)
                        |
                        +---> Fetch Balance Sheet Data Function
                                    |
                                    +---> Fetch Transactions from DB
                                    |          |
                                    |          +---> Transactions Table
                                    |
                                    +---> Fetch Categories from DB
                                    |          |
                                    |          +---> Categories Table
                                    |
                                    +---> Fetch Accounts from DB
                                    |          |
                                    |          +---> Accounts Table
                                    |
                                    +---> Process Transactions
                                    |          |
                                    |          +---> Aggregate by Category
                                    |          |          |
                                    |          |          +---> Classify as Asset, Liability, or Equity
                                    |          |                    |
                                    |          |                    +---> Update Asset Records
                                    |          |                    +---> Update Liability Records
                                    |          |                    +---> Update Equity Records
                                    |
                                    +---> Calculate Totals
                                    |          |
                                    |          +---> Total Assets
                                    |          +---> Total Liabilities
                                    |          +---> Total Equity
                                    |
                                    +---> Return Balance Sheet Data

Components

  • BalanceSheet Component:
    • Props: None
    • State:
      • balanceSheetData: The balance sheet data object.
      • loading: Boolean indicating loading state.
    • Effect:
      • Fetches balance sheet data on component mount.
    • Render:
      • Displays loading spinner while data is being fetched.
      • Displays balance sheet data once fetched.