Setting up Financial statement reports
In SunSystems Financials, the Financial Statements function provides most of the monthly, management reporting. You can use it to design and produce any number of reports, including profit and loss statements, balance sheets, and so on. You have more control over the presentation of information with Financial Statement reports than with Financial Analysis reports.
Where Financial Analysis reports on a range of accounts, Financial Statements allows you to pick and choose individual accounts, adding some together while showing others individually.
A Financial Statement report is defined in two parts using Financial Statement Layouts (FSL) and Financial Statement Rows (FSR).
Financial Statement Layouts defines the format of the report, including the report name, the type of values to be included in columns across the report, the amount format, and so on. It is similar to Financial Analysis Layouts (FNL).
Financial Statement Rows (FSR) defines the line by line content and totalling of the report. You can select a single account, or range of accounts, to be printed on each line. You can also restrict the transactions selected for the accounts using selection criteria.
Separating the layout from the report lines allows you to create one format and apply it to a number of statements lines and vice versa. This enables you to produce several types of reports from the same source.
Financial Statement reports include the following features:
Selection Codes and Level Codes
Using Financial Statement Rows (FSR), you can select individual accounts, or a range of accounts to be included on each report line. The account name can be used as the description, or you can define your own description.
With each account range you can identify individual selection criteria. These allow you to narrow down your selection by currency code, journal type, analysis codes, and so on.
For example, you might have a requirement to report sales by product category, where sales are posted to one account and product category is a ledger transaction analysis dimension. You can identify the same account on a number of different lines, each time selecting the range of analysis codes for each product category.
Two level codes control the report sequence and totalling.
Report Columns
A Financial Statement can have up to 12 columns, allowing you to show figures for different time scales, for budgets and so on. You can use predefined columns, for example This Period Actual, This Period Budget, Year-To-Date Actual. Alternatively, you can define columns that have been calculated from other columns. For example, to show the variance between actual and budget columns.
Report Line Totalling
Financial Statements can include up to seven totalling levels. These are identified by Total statement rows, T1 to T7.
The totals are maintained automatically by the report writer, the values printed on every report line are added into all seven total levels. As each total is printed it is reset to zero. T7 Total is the lowest level total, and T1 Total is the final, overall report total.
Multi-Currency Considerations
You can report in any of the currency values available on each transaction. You can also include different values, in different columns. You can access the six period exchange rates available for each currency and use any of these to revalue accounts, or transactions.
Consolidation
A Financial Statement report can draw together data from more than one business unit. This allows you to consolidate different parts of your business. You can also apply currency exchange rates to this consolidation process, if required.
Data Transfer
In addition to producing a printed, or stored, report, Financial Statements can produce a file of the extracted report data. This file can be produced in a variety of formats which enable it to be transferred to other software packages.
Reporting on Balance or Transactions
SunSystems Financials contains an optional Ledger Balances file which contains a summary of the ledger transactions posted to each account. This file can be used to speed up the processing of some reports.
Financial Statements uses the Balance file, if it is available, wherever it is appropriate to a report setup.