Page History
This kind has the following setup:
- Fiscal Year with start and end dates of 1/1/xxxx to 12/31/xxxx
- Trial Balance Detail column setup:
Additional setup to easily read and compare financial reports.
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When you generate a Trial Balance Detail report, the Trial Balance Detail column designer record is defaulted to the above Filter Types with Column Name selected in the Caption field. For this illustration, so as you will see how these filters work, the Caption is changed to Filter Type. This will show the Date coverage of the data.the Start and End Offset dates are computed, and what dates in the Caption should be like.
Then a Page Header is added to match the column name for better illustration.
This is how the report will look like with Filter Type Caption and with Page Header.
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Here is how Retained Earnings row type works.
- This is the fiscal year setup.
- FY2013 FY2014 - 1/1/2013 2014 to 12/31/20132014FY2014
- FY2015 - 11/1/2014 to 122015 to 12/31/20142015FY2015
- FY2016 - 1/1/2015 2016 to 12/31/20152016
- This is the Income Statement Detail report with Net Income per fiscal year.
- This is the Balance Sheet Detail report with As Of End of Fiscal Year setup per fiscal year.
- Print Trial Balance Detail As of Date = 12/31/2014. No Retained Earnings yet on the first year.
Here is the Print Trial Balance Detail figures based on As of Date = 12/31/2015. Retained Earnings amount here was from 2014 Net Income(Loss), which is 1,200.00.
Here is the
Print Trial Balance Detail figures based on As of Date = 121/3126/2016.
To further explain, for Retained Earnings account's Beginning and Ending Balance, it will take the previous year's Total Income or Loss, which is computed as Total Revenue - Total Expenses. That is why Income Retained Earnings amount here was from 2014 and 2015 Net Income(Loss), which are 1,200.00 -192,303.00 = 191,103.00
To further explain, Income Statement accounts (Revenue and Expense type) is are zeroed out and is are rolled over to Retained Earnings account as Beginning Balance for the current year. In the case where there are transaction/s created that use Retained Earnings account, then that same will be added if posted on the credit side and deducted on the debit side to the Total Income or Loss to get the Retained Earnings Beginning Balance.
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