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The following will explain in detail how to generate Balance Sheet Detail report and how to modify show how the Balance Sheet Detail row designer to reflect correct Retained Earnings and Current Year Earnings numbersDetail report should be setup to derive a correct value for Retained Earnings account, Current Year Earnings, Balance Sheet accounts and Income Statement accounts.
- First and foremost, make sure that Retained Earnings field in the Fiscal Year screen has been setup with a Retained Earnings account. This is the account where the Net Income from previous year/s be rolled over.
- Generate Trial Balance Sheet Detail report from Report Templates. To open Report Templates, go to Financial Reports module > Report Templates.
Select Trial Balance Sheet Detail and Balance Detail and click Generate toolbar buttonSheet Detail report builder will be generated.
Note You can assign a name for the Balance Sheet Detail report by entering the name of the report in the Assign Name field. If this field is left blank, i21 will automatically provide a name for the report with this format: Balance Sheet Detail - <Date and Time the report template is generated.
Ex: Balance Sheet Detail - November 10, 2015 19:0:38 January 25, 2016 11:43:39
- The Report Builder record with Rows and Columns designed for a Trial Balance will automatically open.
- In the Report Builder screen click on the Row field label Click on the magnifying glass button in the Row field of the Report Builder screen to open the Row Designer record. Most of the rows have Filter Accounts row type and are filtered per Account ID.
- Look for the Retained Earnings account/s and assign Retained Earnings row type to them. This row type will tell the row/s to compute for the Net Income from the prior year/s and roll it over to the next fiscal year. Look for the Revenue and Expense rows with Hidden row type and change Hidden to Current Year Earnings row type.
- Retained Earnings account setup from Fiscal Year will have an Account Type of RE.
- Total Revenues and Total Expenses rows will have an Account Type of CY, which stands for Current Year earnings. These rows are setup to be hidden as well, that is why Hidden checkbox are checked.
- All Balance Sheet accounts, except for Retained Earnings account in (a), will have an Account Type of BS.
- Close the the Row Designer screen to bring you back to the Report Builder record.
- In the Report Builder screen click on the Column field label to open the Column Designer record. Here is how each columns are setup by default.
- For Current Year columns, Start and End Offset will show BOT to 0. BOT here stands for Beginning of Time while 0 means the current month, which is setup from the Run Date. Take note also that Start Date will show first day of the month while End Date will show last day of the month. If you are printing a report, these Start and End Offset dates will be computed based on date entered on As Of field of Report Setting screen. This means that current month is the month entered in the As Of field.
- For Prior Year columns, Start and End Offset will show BOT to EOY-1yr. BOT here stands for Beginning of Time while EOY-1yr means the End of Year minus 1yr or previous End of Year. Take note also that Start Date will show first day of the month while End Date will show last day of the month. If you are printing a report, these Start and End Offset dates will be computed based on date entered on As Of field of Report Setting screen. This means that current month is the month entered in the As Of field.
- Close the the Column Designer screen to bring you back to the Report Builder record.
Note on the following rows:
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The following will show how the Balance Sheet Detail report should be setup to derive a correct value for Retained Earnings account, Current Year Earnings, Balance Sheet accounts and Income Statement accounts.
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The following illustrations will show you how the roll over is happening for Retained Earnings based on different setup like, if Calendar year is used, Non-calendar year is used and different As Of filter types.
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The following will explain in detail how to generate Balance Sheet Detail report and how to modify the Balance Sheet Detail row designer to reflect correct Retained Earnings and Current Year Earnings numbers.
Click on the magnifying glass button in the Column field of the Report Builder screen to open the Column Designer record. Here is how each columns are setup. The following illustrations will show you how the roll over is happening for Retained Earnings based on different setup like, if Calendar year is used, Non-calendar year is used and different As Of filter types.
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