Sample output from the The Ledger X-Ray prompt in the Sonar AI Prompt Library, run against a NetSuite test account. Every name and number here is test data. Back to the post · The library
■ SONAR AI · DEEP SCAN COMPLETE · ACCOUNT TD3016323 · 2026-09-01

THE LEDGER
X-RAY

One general ledger. Two completely different companies living inside it. This is the story of SuiteStep, LLC in 2026 — what the books say, what the transactions prove, and the $2.7M question sitting between them.
SCOPE  : Q2 2026 board prep · FY2026 YTD EBITDA · 3-quarter comparatives
SOURCE : live GL · transactionaccountingline · posting-only · validated vs native IS (report -200, zero variance)
STATUS : all FY2026 periods OPEN — every figure preliminary
LIVE DATA · QUERIED THIS SESSION · NOTHING ESTIMATED
ACT I — THE SURFACE READING

On paper, a company having a very good year.

Every headline metric points the right direction. Revenue accelerating, margins expanding, costs flat, cash growing, debt trivial. If you stopped here, you'd write the press release.

Q2 Revenue
$3.31M
▲ 29.5% YoY · ▲ 13.4% QoQ
Operating Margin
17.0%
up from 11.2% a year ago
Opex Growth YoY
−1.2%
flat costs vs +29.5% revenue
Cash · 6/30
$2.62M
+$345K in H1 2026
YTD EBITDA
$1.20M
14.27% margin · to the penny vs report -200
Interest Coverage
73×
EBITDA ÷ interest — leverage is a non-issue
ACT II — SWITCH ON THE X-RAY

Then you ask one question:
who actually got invoiced?

Split Q2's $3.31M of revenue by how it entered the ledger, and the picture fractures. Six manual journal entries — memo'd "Beg Balance Entries", posted on the 1st of each month, no creator recorded — carry 81% of everything.

Q2 2026 REVENUE · BY ENTRY MECHANISM
6 journals
$2,682,167 · 81%
108 invoices
$600,377 · 18%
133 cash sales
$23,607 · 1%
THE GHOST COMPANY

The Journal Book

Exists as six entries a month. No customers. No invoices. No names.
$2.68M / quarter
  • Entry vehicle JE121–123 · JE145–147
  • Memo, every time "Beg Balance Entries"
  • Creator recorded — none —
  • Pattern age every month since Jan 2025
  • A/R it created $1.24M (untied to any invoice)
  • Audit survivability fails day-one tie-out
THE REAL COMPANY

The Transactional Book

241 documents. 82 named customers. Every dollar traceable.
$624K / quarter
  • Growth, YoY +89.8%
  • Growth, QoQ +50.2%
  • Active customers 82 (was 70) · +17%
  • Best month ever Jun 2026 · $233,739
  • Backlog integrity 57 orders · $124K · 100% clean
  • Audit survivability fully supported today
20 MONTHS · ORGANIC (GREEN) VS JOURNAL (GREY) REVENUE — THE REAL COMPANY IS ACCELERATING UNDERNEATH
J25
F25
M25
A25
M25
J25
J25
A25
S25
O25
N25
D25
J26
F26
M26
A26
M26
J26
J26
A26
ORGANIC (INVOICED) JOURNAL-POSTED common scale · journal peak $931.8K (Aug 26) · organic peak $246.2K (Nov 25) · organic Q2'26 run = the growth story
ACT III — WHERE THE TWO COMPANIES COLLIDE

The balance sheet keeps the receipts.

Journals that book revenue against A/R — without ever creating an invoice — leave fingerprints. Both control accounts now carry a seven-figure balance that no subledger can explain.

Accounts Receivable
GAP: $1,235,065
$928K REAL INVOICES
$1.24M JOURNAL-CREATED
Accounts Payable
GAP: $1,178,716
$181K
$1.18M JOURNAL-CREATED
And inside the $928K of real receivables, a second fire: 60% is more than 90 days past due — including one invoice from May 2025 that has now been outstanding for fifteen months.
A/R AGING · OPEN CustInvc · BUCKETED VS 2026-09-01
OPEN A/R · $928,247 · BY AGE
Current
$91,513 · 9.9%
1–30
$43,564
31–60
$124,483
61–90
$109,766
90+
$558,920 · 60.2%
26
DAYS
The flattering DSO.
Real invoices ÷ journal-inflated revenue.
MISLEADING — DO NOT PRESENT
56
DAYS
The GL DSO.
Journal-swollen A/R ÷ journal-swollen revenue.
INTERNALLY CONSISTENT, HOLLOW
135
DAYS
The honest DSO.
Real invoices ÷ the organic revenue that created them.
DEFENSIBLE — OWN THIS NUMBER
Meanwhile vendors get paid in ~8 days. SuiteStep collects in 135 and pays in 8 — financing everyone else's working capital from its own bank account.
DPO 8.3d SUBLEDGER · A/P 95% CURRENT · LARGEST BILL: DAVIDSON LEASING $120K
ACT IV — THE NUMBER LENDERS WILL ASK FOR

EBITDA: $1,197,137 — and it reconciles to the penny.

FY2026 YTD, bridged from net income with every line traced to a query and validated against NetSuite's own Income Statement with zero variance. The quirk: this business is so asset-light and debt-light that EBITDA ≈ EBIT ≈ operating income.

Net Income REPORT -200 · TIES TO GL EXACTLY
$1,174,240.26
+ Income Tax NOT FOUND IN GLNO PROVISION POSTED — CONFIRM (PASS-THROUGH LLC?)
$0.00
+ Interest Expense ACCT 8100 · ONLY INTEREST ACCOUNT
$16,399.04
= EBIT VS NET ORDINARY INCOME $1,191,536.80 · Δ $897.50 FULLY ITEMIZED
$1,190,639.30
+ D&A NAME-HEURISTICACCTS 6810 + 6880 · CONFIRM VS FAM SCHEDULE
$6,497.56
= EBITDA 14.27% OF $8,388,816.61 REVENUE
$1,197,136.86
$6.5K of annual-run-rate D&A on an $8.4M revenue company means there is essentially no fixed-asset base in these books. Whoever owns the machines, it isn't this ledger.
TOTAL YTD D&A = 0.08% OF REVENUE · FAM BUNDLE INSTALLED BUT NEAR-SILENT
ACT V — EVERY CLAIM HAS A RECEIPT

Nothing here was estimated.

Each finding traces to a live query run in this session, against posting transactions only.

The 81% journal finding
TAL ⋈ transaction ⋈ account, periods 177/178/179, Income accounts, grouped by transaction.type. Journals: $2,682,167 across JE 40473–40475, 40497–40499. Full 62-line GL detail pulled on JE123.
The A/R gap
SUM(tal.amount) on accttype='AcctRec' = $2,163,312, of which $1,238,672 posted by type='Journal'. Open CustInvc subledger = $928,247. Gap ≈ journal A/R to the dollar.
Organic growth +89.8%
Monthly Income split journal-vs-other, periods 156–182. Q2'26 organic $623,985 vs Q2'25 $328,775. Monotonic within the quarter — no quarter-end loading.
EBITDA validation
Native Income Statement (report -200), crit_1_from=173, crit_1_to=183, consolidated, periodVerified=true. Net income $1,174,240.26 — zero variance vs TAL roll-up.
The tax false-positive
%TAX% name scan returned exactly one account: 6460 "Taxi & Car Rental" ($16,399.04 — coincidentally identical to interest expense). Excluded. No income-tax provision exists in the posted GL.
Clean backlog
SalesOrd status A/B/E/F ⋈ lines (mainline='F', taxline='F', ABS): 57 orders, $124,151, all dated 2026, zero intercompany customers, largest SO4322 · Magna Tech · $13,686.
CLOSING ARGUMENT

The verdict.

A genuinely good business is growing inside a set of books that can't yet prove it.

The transactional company — the one with 82 named customers, +90% growth, clean backlog, flat costs, and $2.6M in the bank — is real and accelerating. But it lives inside a ledger where four out of five revenue dollars arrive by anonymous monthly journal, and where both control accounts fail their subledger tie-outs by seven figures. Fix the wrapper, and the company inside is the story everyone wants.

LEAD WITH
  • +89.8% organic growth — the fully-auditable number
  • 17.0% operating margin, up ~6pts in a year, opex flat
  • 73× interest coverage, $2.62M cash, A/P fully current
FIX BEFORE ANYONE ASKS
  • Document & remediate the "Beg Balance" journal regime
  • Reclass or rebuild the $1.24M / $1.18M control-account gaps
  • Reserve & chase the $559K of 90+ day A/R (Mercury Co. first)
WATCH
  • Aug 2026 cash −$46K — first negative month of the FY
  • GM slipped 41.5% → 39.7% QoQ (journal-blended)
  • Top-2 customers = top-2 receivables — risk overlap