Configuring Balance Sheet

  1. Ensure that the Group Accounts business object has been configured.
  2. Select Modules > Consolidation > Balance Sheet and click Configure.
  3. Specify this information:
    Total Assets
    Select the top group asset account in the balance sheet hierarchy. You can select only accounts of type A (Assets). Total assets are calculated for the purposes of equal checks, reporting, and consolidation processes. Total assets are also used in the Budgeting & Planning module.
    Total Liabilities
    Select the top group liability account in the balance sheet hierarchy. You can select only accounts of type L (Liabilities). Total liabilities are calculated for the purposes of equal checks, reporting, and consolidation processes. Total liabilities are also used in the Budgeting & Planning module.
    Balance Sheet Profit/Loss
    Select the group equity account that is increased by the period's profit or decreased by the period's loss. You can select only accounts of type A or L. Typically, type L is used. This account receives the results from the profit and loss statement. This account is used in consolidation processes and in the Budgeting & Planning module.
    Schedule Detail for Balance Sheet Profit/Loss
    Specify the ID of the schedule detail for the specified equity account. Typically, this is an opening balance.
    Deferred Tax - Assets
    Select the group account to store system generated deferred tax assets. You can select only accounts of type A.
    Deferred Tax - Liabilities
    Select the group account to store system generated deferred tax liabilities. You can select only accounts of type L.
    Currency Translation Differences
    Select the balance sheet group account for system generated currency exchange differences. Those differences result from the retranslation of the balance sheet statement with the balance sheet exchange rate. You can select only accounts of type A or L. We recommend that you set up this account with a meaningful name, such as Translation Reserve BS.
    Rounding Differences
    Select the balance sheet group account to store system generated rounding differences that result from consolidation processes. You can select only accounts of type A or L. We recommend that you select the same account as in the Currency Translation Differences field.
  4. Click Save.