Running Standard Financial Reports

After posting all journal entries, produce standard financial reports such as a journal edit listing, a trial balance, a balance sheet, an income statement, and projection reports. These reports provide a record of transactions and account balances for the period. Use this procedure to run standard financial reports at the beginning of the period closing process and at the end of the process.

To run standard financial reports

  1. Select the type of financial report you want to run.
    To Run
    Create a trial balance report of units and amounts for a company, company group, select accounting units, accounting unit list, or level group. Trial Balance (GL291)
    Create a balance sheet report showing the current year and last year data for a specified period for a company, company group, select accounting units, accounting unit list, or level group. Balance Sheet (GL292)
    Create an income statement report for a specified period for a company, company group, select accounting units, accounting unit list, or level group. Income Statement (GL293)
    Create a report projecting the fiscal year-end financial amounts for a company, company group, or select accounting units Projection By Level (GL294)
    Create a report projecting the fiscal year-end financial amounts by accounts Projection By Account (GL295)
  2. Run the report. Use the following guidelines to select field values:
    Company

    To print a separate report for each company, choose Select Level (X) in the Company field.

    Accounting Units

    To print a separate report for each of the specified accounting units, select the specific accounting unit name (posting or summary) in one of the Accounting Units fields. To print a separate report for only the accounting units below a specific summary accounting unit, enter a specific summary accounting unit and choose Select Level (X) in the level below it.

    Level One to Level Five

    To print a separate report for each accounting unit (posting or summary) in that level, choose Select Level (X) in any of the Level fields.

    Report Currency and Trans Currency

    Select the currency that is included in the report. The default is None, which lets you include a transaction currency code, which you select in the Trans Currency field.

    You can include Base, Report Currency 1, Report Currency 2, or All, which includes all report currencies and the base currency.

  3. Verify the output.