Depending on when you do your end of month and generate your Income & Expenditure statements, the transactions may vary slightly.
An Income & Expenditure Statement will show all transactions (income and expenses) for the owner for the full financial period (1 July to 30 June in Australia). The Owner Statement will show month by month transactions.
If you complete end of month on 30 June:
In Australia, if you complete your end of month on 30th June, the owner statements will show all transactions up to and including the 29th June because you have only receipted up to the last full day.
The Income & Expenditure Statement generated on 1 July will account for the transactions up to and including 30 June, so effectively will show that extra day of transactions.
Accountants will require a statement showing all income & expenses up to and including 30 June. The Income & Expenditure Statement will provide your owners accountant with everything they need.
Example of transaction variance:
If you select the Current Financial Date 2021 - 2022, the I & E Statement will only show you the account transaction breakdown from 01/07/21 - 30/06/22. As you generated the statements previously on the 29/06/21, there would be 2 days transactions included in the Balance Brought Forward total that will not be in the detailed account breakdown for the dates 29th & 30th June 2021.
If you select a specific Date Range in Vault eg 29/06/21 - 30/06/22, Vault will pick up the extra 2 days from last year's financial period (29th & 30th June) therefore picking up all transactions in the account breakdown that have not yet been reported previously on the I & E Statement.