GL Financial Statement Inquiry overview

Most of the time, the summary information is sufficient to answer a question. At other times, more detail is required. Using the financial statement inquiry helps you to find answers quickly.

For example, you may want to investigate a particular expense on the income statement. You can highlight that line item on the income statement and drill down to specific accounts. From the account level you can highlight a particular account number and drill down to the General Ledger transactions. At the transaction level, you can drill down to the Accounts Payable journal. From the AP journal you have access to the same information available in Accounts Payable Transaction Inquiry, such as invoice details, General Ledger distribution, vendor information, and purchase order information.

GL Financial Statement Inquiry does not consolidate information across companies. If you have more than one company set up and you want to view financial statements information for each company, you must run GL Financial Statement Inquiry for each company from within that company. If you run a consolidated financial statement and attempt to drill down on the information, you are only able to view financial information for the company that you are logged into at the time.

The internal GLIF/GLIFA records that are created and stored when you run GL Financial Statement Inquiry are static records, and are not affected by additional postings. However, all of the other screens that you use as part of the drill-down process are real-time records. Any changes or postings that are made after the GLIF/GLIFA records are created are reflected in all other screens, but not in GLIF/GLIFA. Therefore, it is possible that the balances you view in GLIF/GLIFA do not match the balances shown elsewhere in the drill down process. If a significant amount of time has passed since the initial GLIF/GLIFA records were created, you may want to run GL Financial Statement Inquiry again.

The GL Financial Statement Inquiry-Detail window displays the detailed account information for the line selected on the GL Financial Statement Inquiry window. History comparison records and budget records are displayed for the current year and up to four previous years, if the information is available. If historical information is not available, zeros are displayed. Budget information is based on the latest version of the budget.