Description

The Balance Sheet report captures the Asset, Equity, and Liabilities type ledger account balances. The report can be viewed in Standard, Entity, or Comparative format, while allowing for either Consolidated or Unconsolidated balances at all levels of the entity structure. The Balance Sheet layout can be custom formatted to meet any reporting requirements. 

• Configuration Settings
• Report View
  • Report Formats
    • Standard
    • Entity
    • Comparative
• Balance Drill Down
  • Important Calculations
    • Retained Earnings
    • Current Period Income
    • Currency Translation Difference
  • Saving Report
  • Exports
    • Detail Export
    • Summary Export

Configuration Settings

Depending on the Type of report selected you will be presented with different options

1. Column Format - Standard, Entity, or Comparative. This determines whether you are viewing a single column for a Standard report, comparing multiple date periods, or seeing your Locations split out with balances in an entity view.

2. Edit Layout - Open the Report Layout Editor to control what rows show and how data is summarized. See more details here-->

3. Consolidated

   • Enabled - consolidate journal lines for the selected Location and all its children Locations.
   • Disabled - only show journal lines for the selected Location.

4. Location - Location to include journal lines from. Uses Location context from the Location Picker if not set.

5. Date - Will show journal lines data up to and including this date. Uses date context from the Date Picker if not set.

6. Column Type - Month, Quarter, or Year

   • Only available for the Comparative type report

7. Number of Comparative Columns - The number displayed will be the selected number PLUS one (e.g, if selecting 11 months, this will display 12 monthly column periods in the report)

   • Column Type selection will limit the options:

     • Month: 1 - 12
     • Quarter: 1 - 4
     • Year: 1 - 2

Report View

Balance Sheet reports have three types of columns:

1. Headers - Text only (e.g. Cash)
2. Account balances - A list of one or more Ledger Accounts with their balance shown.
3. Summary Rows - A summed value of all the account balances above (e.g. Total Cash)

Report Formats

Standard

The Standard column format will display a single column of account and summarized balances up to and including the date selected.

Entity

The Entity column format will display a list of balances for direct child Locations, elimination entries and the total consolidated balance.

If you have the entity structure above. The report will show these columns

1. Consolidation of North American Operating Entity - Direct child of Holding Company
2. Consolidation of European Operating Entity - Direct child of Holding Company
3. Asia - Direct child of Holding Company
4. Holding - Location selected
5. Elimination - Balance of all elimination type journal lines.
6. Consolidated - Consolidated balance of the Location the report is run for.

Comparative

Report used to compare months, quarters, years side by side in a column view. The farthest right column is Period  to date of the selected configuration date. There will be a Number of Comparative Columns additionally added prior to that column. All balances are equivalent to the standard balance sheet with that columns end date.

Balance Drill Down

Clicking into an account balance will display the Journal Lines associated with it, where the Journal Lines will change based on the Report Configurations (e.g. Entity, Consolidated or Unconsolidated, etc.)

Important Calculations

Retained Earnings

On a consolidated Balance Sheet, the opening Retained Earnings balance will be presented in the consolidated currency of the report. If there are manual entries to the Retained Earnings account, they will be consolidated normally. The opening retained earnings balance will be calculated separately for each closed year prior to the reporting year. Each years balance will be translated using the consolidation rates of that year and then the top level balances for all years will be summed and presented as the opening retained earnings balance.

Current Period Income

Current Period Income, by default shown under Retained Earnings in the Equity section. This balance is based upon the Fiscal year to data sum of all Revenue and Expense Accounts.

Caution: If the previous year isn't closed, prior year data may not be accurate as the Retained Earnings Journal Entry has not yet been booked.

Currency Translation Difference

The Currency Translation Difference, by default shown under the Retained Earnings section under Equity, is a calculated value shown to ensure the Balance Sheet balances when viewed at the consolidated level for a Location that has children Location(s) with more than one reporting currency. Learn more about Currency Translation Difference -->

Saving Report

The following configurations are saved when the report is saved

• Column format
• Edited Report  Layout
• Consolidation
• Location
• Date
• Column Type
• Number of Comparative Columns

Exports

The balance sheet can be exported in two ways.

Detail Export

This view will be equivalent to what's shown in the report view.

Summary Export

This view collapses all sections containing ledger accounts. The collapsed section will omit ledger accounts and direct summary rows. Only the header of that section will show with the balance normally shown in the summary