What is Flash Report?
Flash report is one kind of manager report which contains your opening balance of the day and closing balance of the day including of all credit and debit charges.
Where the Opening Balance figure comes from? :
Opening balance is previous day closing balance.
Why don’t the income accounts on the left balance with the asset accounts on the right (as opposed to my example attached)? :
It’s not always mandatory that whatever income you have you get exact payment on the same day. For example: If a guest stays is for 2 nights. income account will show charges for the first night on the first day but the guest is not paying an amount of first night on the same day. It pays the charges of both nights on the second day. so you cant compare income with asset account.
Where the Closing Balance C/O comes from?:
Refer attached image for closing balance formula.