Design Financial Statements Design Financial Statements
Designing Financial Statements in the accounting system is a simple process. Every G/L Account should be assigned a place on the financial statement. Accounts that are not assigned will not appear on the Financial Statement and may cause it to be out of balance.
Every line that is to show up on the Balance Sheet and on the Income Statement must be selected here. Each line item can be defined as a Heading, a Total, a Single Line Account or a Master Account.
Heading
This type of line item simply prints text on the financial statement. A Heading can be specified as Left Justified, Centered, or a Page Heading. A Page Heading is simply a Centered Heading that will force the printer to start on a new page. Select Centered as the page heading for the first page of the Balance Sheet, not Page Heading. Page Heading is for the 2nd, 3rd, 4th pages, etc.
Total
This line item type will add up the account balances for a selected group of Single Account Line Items, Master Account Line Items, and other Total Line Items. This total can be used only once in a total.
Single Account Line Items
This line item will display the balance of a single G/L account. This single account can also be used for a total line item but it may be used only once.
Master Account Line Items
This line item will display the sum of the balances of a selected group of G/L Accounts. This master account may also be used for a total line item.
There are three possible Financial Statements that may be designed.
1. Design Departmentalized Financial Statements
This option will only be available if in the General Ledger Tab of Setup Accounting Options, Departmentalize was selected. Financial statements are setup through the Design Financials on the General Ledger Main menu. The department ID and descriptions may also be set up through this option.
2. Design Financial Statement Line Items
This option will be available if Departmentalize was not selected in the General Ledger Tab of Setup Accounting Options.
3. Multiple Financial Statements Formats (Preferred Edition Only)
This option will only be available if the Design multiple financial statement was selected in the General Ledger Tab of Setup Accounting Options. This option allows the user to enter multiple Financial Statement formats.
The following screen will come into view.
Press the Add button to enter a new format. Press the Change button to alter an existing format.
Design Financial Statement Line Items
Financial statements are setup through the Design Financials option on the General Ledger Main Menu. The following screen comes into view when Design Financials is selected.
These arrows make it possible to move the highlighted record up one, to the top, down one and to the bottom of the statement, respectively.
Add or Change (button)
See Add or Change a Financial Statement Line Item
Press the Delete button and the following screen comes into view. Press the Yes button and the highlighted record will be deleted and the previous screen comes into view. If the No button is pressed, the program returns to the previous screen.
This button closes the program and returns to the main screen.
Help (button)
see How to use Help
Add or Change a Financial Statement Line Item
Press the Add or Change button and the following screen comes into view.
Heading (radio button)
If this option is selected, the following fields become available.
Enter the Heading text and choose the correct radio button for the position of the Heading. Indicate, by checking the appropriate boxes, if this is the First Line Item on the Income Statement and if this is a report heading for which the font should be large.
There are four special items that may be inserted into the report. These headers must be enclosed in square brackets. The system automatically pulls the bracketed information and inserts the information into the report. Example: If the heading text for one of the line items was "As of [Today]" and today's date was 8-19-99, the system would pull today's date and insert it when the report is printed. The Line item on the report would be "As of 8-19-99".
These special items include [Company], [Today], [StartDate], [Date], [Heading] and [Page].
•[Company] - the company name is pulled from the Company Information file and inserted.
•[Today] - Today's date is inserted.
•[StartDate] - The first day of the selected fiscal period is inserted. If a range of fiscal periods is selected, it is the first day of the first fiscal period. For example: If the selected range was from January 2018 to July 2018, the date inserted in the report would be January 1, 2018.
•[Date] - The last day of the selected fiscal period is inserted. If a range of fiscal periods is selected, it is the last day of the last fiscal period. For example: If the selected range was from January 2018 to July 2018, the date inserted in the report would be July 31, 2018.
•[Heading] - Prints an Income Statement Heading across this line.
•[Page] - Prints the current page number.
Single Account (radio button)
If this option is chosen, the Line item will display the G/L Account description on the Financial Statement. Select from a list of G/L accounts which do not yet appear on the financial statement. The title for this line item will be the name of the selected account.
Master Account (radio button)
If this option is selected, the following field will be available. Enter the Account name. Select any accounts from the list of available G/L accounts. 
Total
If this option is selected, then the following field will be available. Enter the name of the totaling account, then select which line items and/or totals will be included in this total.
Account Number (Display Only)
This number is on the screen for the convenience of the person designing the financial statement. It shows the account number of the account on which work is being done.
Department
Enter the Department for which the Financial Statement is being created. Click the lookup button to select from a list of Departments.
Include This Item on All Departments (check box)
Check this box if this item is to be included on all Departments.
Printed Balance is Usually a Credit Amount (radio button)
Check this button if the balance printed on the financial statement is usually a credit amount, i.e. Liabilities, Equity, Income, etc.
Printed Balance is Usually a Debit Amount (radio button)
Check this button if the balance printed on the financial statement is usually a debit amount, i.e. Liabilities, Equity, Income, etc.
Indent total
Line item descriptions can be tabbed in from the left side of the report. Enter the number of tabs for this line item.
This is the First Line Item on the Income Statement (check box)
Check this box if This is the First Line Item on the Income Statement. Only one line item should have this box checked.
Print in Large Font (Report Heading)(Check box)
Check this box if this line item is a report heading on the Income Statement.
Included Items for Single Accounts, Master Accounts and Totals
Available
This column lists the Available G/L Accounts or Line Items.
Included Account/ Items
This column lists the items and/or accounts included in the current line item.
This button adds the highlighted item to the Included Account/Item list.
This button removes the highlighted item from the Included Account/Item list.
This button removes all the highlighted items in the Included Account/Item list.
Design Departmentalized Financial Statements
For a thorough discussion of Departmentalization, review the Departmentalized Financial Statement topic.
This screen will only be available if in the General Ledger Tab of Setup Accounting Options, Departmentalize was selected. Financial statements are setup through the Design Financials on the General Ledger Main Menu. The department ID and descriptions may also be set up through this option.
Add or Change (button)
Press the Add button or highlight the department and press the Change button. The following screen will come into view.
Department ID
This is a five digit field. The Department may be letters and/or numbers.
Description
This is used to fully identify the department.
Duplicate Existing Department (checkbox)
Check this box to enable the fields below. If one department has already been created, it can be duplicated here. If the original department has already been designed into the financial statement, its setup will also be duplicated, including its inclusion in the Consolidated statement. For this reason, it is wise to complete the financial statement design for the original department before duplicating it here.
Create GL Accounts (checkbox)
Check this box and the system will find all GL Accounts that end in the department digits associated with the department to be duplicated. It will create an exact copy of each of these accounts, with the exception of the account number (which will now end in the department digits associated with the new department), and the name, which can be customized below.
Account Name
Enter a prefix and/or suffix that should be added to the GL Account Description of the account to be duplicated. For example, if a prefix of "<4>" is entered as shown above, GL Account "45103 - Job Income" will be duplicated as GL Account "45104 - <4>Job Income".
Design Financial Statement (checkbox)
Check this box and the system will search the current financial statement for all occurrences of any line item associated with the department to be duplicated. It will create an exact copy of each of these line items, with the exception of the Line Item Description, which can be customized below. This includes searching Consolidated Statement line items and adding the new line items into the totals found there.
Line Item Description
Enter a prefix and/or suffix that should be added to the Line Item Description of the line item to be duplicated. For example, if a prefix of "<4>" is entered as shown above, the line item titled "Total General & Administrative" will be duplicated as <4>Total General & Administrative".
These arrows make it possible to move the highlighted record up one, to the top, down one and to the bottom of the statement, respectively.
Add or Change (button)
See Add or Change a Departmentalized Financial Statement Line Item.
Duplicate Existing Format (button)
Press the Duplicate Existing Format button and the following screen comes into view.
Select the Report Format to duplicate and press the Proceed button. Press the Cancel button to return to the previous screen.
Add or Change a Departmentalized Financial Statement Line Item
Press the Add button or highlight the desired line item and press the Change button. The following screen will come into view.
This screen is identical to the Add or Change a Financial Statement Line Item screen except for the Departments option.
Departments
Enter the department ID or press the lookup button and the following screen will come into view. Highlight the desired department and press the Select button. Enter ‘con' as the Department ID if this line item is to show up only on the Consolidated Income Statement.
Include This Item on All Departments (check box)
If this box is checked, this financial line item will be printed for all departments.
Design Multiple Financial Statement Formats (Preferred Edition Only)
This option will only be available if in the General Ledger Tab of Setup Accounting Options, Design Multiple Financial Statement was selected. This option allows the user to enter multiple Financial Statement formats.
This option is available for both Departmentalized and non Departmentalized Financial Statements. When designing the financial statement formats, departmentalized and non departmentalized formats cannot be mixed. The financial statements are either departmentalized or non departmentalized. However, a financial statement may be designed for just one department.
The following screen comes into view when Design Financials is selected.
Financial Statement Description
This is the description of the Financial Statements that have been setup. The description is user defined.
Add or Change (button)
To modify the information used in designing the Financial Statement, press the Add button or highlight the desired Financial Statement format and press the Change button. Warning: The Financial Statement format is used to store the selected limits. The screen that will come into view is dependent upon the system setup.
1. Design Departmentalized Financial Statements
This option will only be available if in the General Ledger Tab of Setup Accounting Options, Departmentalize was selected. Financial statements are setup through the Design Financials on the General Ledger Main Menu. The department ID and descriptions may also be set up through this option.
2. Design Financial Statement Line Items
This option will be available if departmentalize was not selected in the General Ledger Tab of Setup Accounting Options.
Financial Statement Format
The Financial Statement format is used to store the information used in designing the Financial Statement. This is a user defined field.
Duplicate Existing Format (button)
The Duplicate Existing Format button is the same on both Departmentalized and non Departmentalized Financial Statement screens. This button, when pressed, allows the user to duplicate an existing Financial Statement format. The following screen will come into view when this button is pressed.
Highlight the desired format to duplicate from and press the Proceed button.
Duplicating this existing Financial Statement will replace the current format. To continue with the duplication, press the Yes button. The following screen will come into view. Press the OK button.