TRAVERSE Global v11.1

Preparing Financial Statements

Printing financial statements and reports is an important part of the accounting process. Because statements and reports are used in different ways, variations of the statement or report are often printed, or existing statements and reports are changed. Use the Financial Statements function to produce balance sheets, income statements, and ratio analyses. You might want to produce statements every period for every company. You must set up statements and batch statements in the Statements function and /or Batch statements function.

If you frequently print the same statements for the same companies, use the Batch Statements function to set up the printing parameters for the group of statements in a batch statement record. Then when you print statements, enter the batch statement ID; and the system prints the statements set up in that batch statement record.

Before using the Financial Statements function for the first time, review the sample statement layouts and contents provided with General Ledger. You can use the sample statement layouts and contents to print your own financial statements, make new contents and layouts, copying from the samples, and modify the new contents and layouts to suit your needs, or set up your own statement layout and statement contents, to create your own statements.

Before printing financial statements, make sure that all transactions are entered, corrected, and posted to the GL Master. Then print a Trial Balance Report or an Audit Trial Balance Report to check the account balances. If you find problems, enter adjusting transactions. Then post the transactions to the GL Master.

ClosedPlanning Financial Statements

Before setting up a financial statement, decide what to include, the kind of balance information, column layouts, calculations, and so on. You can design column layouts that show different companies, periods, or account segment detail. You can also define a company for each column that references amounts in the chart of accounts. You can define a column to contain one company, all companies, one account segment, or a combination of these items. The companies must have identical account masks for side-by-side column layouts.

Use the Statement Layout, Statement Contents, Batch Statements, and Financial Statements screens to select the segments and companies for a report. The ranges entered in the statement content have the first priority, the ranges from batch statement has second priority, the range set in the financial statement has the third priority, and the range in the statement layout has the last priority.

For example: If you enter GL period 6 and company AAA on the Batch Statements screen, but you enter GL period 8 and company BBB on the Financial Statements screen, all the account balance lines will be 0.

ClosedDesigning Financial Statements

Use the Statement Layout function to set up a financial statement template for the type of information for each column to contain. Use the Statement Contents function to specify the rows of the template and the accounts to include. Use the Statements function to build several types of financial statements by pairing different content IDs and layout IDs.

ClosedDefining Statement Columns

The statement Layout function controls the width and placement of columns in a report and determines which balances are used. In the statement layout specify these attributes:

  • the statement design
  • the previous fiscal year’s information, if it is used
  • the type of information that goes into the columns, account numbers, descriptions, balances, or calculations
  • types of account balances to be included, actual, budget, forecast, or last year amounts
  • length of the reporting period, current period only, previous period only, quarter to date, or year to date

Before you setup a statement layout, decide what you want on it: the kind of balance information, column layouts, any calculations you want made, and so on.

Several sample layouts are supplied with the General Ledger. Print the Statement Layout List of each sample to look at the layouts. You can use any sample layout as it is (it is recommended that you make a copy of the layout to use to preserve the sample as a template), or modify it as you like. You can also use these samples simply as a guide for creating your own.

ClosedSample Statement Layouts

Balance Sheets Layout ID
Current/Budget Comparison BALA
Current/Last-Year Comparison BALB
Current/Budget and Last-Year Comparison BALC
Change from Last Year BALD
Current Period YTD BALE
Six-Month Comparison BALG
   
Income Statements Layout ID
Budget Comparison (current/YTD) INCA
Last-Year Comparison (current/YTD) INCB
Budget Comparison (current/QTD/YTD) INCC
Last-Year Comparison (current/QTD/YTD) INCD
Budget/Last-Year Comparison (current/YTD) INCE
Budget Variance (current/YTD) INCF
Last-Year Variance (current/YTD) INCG
Budget Variance (current/QTD/YTD) INCH
Last-Year Variance (current/QTD/YTD) INCI
Current Period/Previous Period/YTD INCJ
Current Period/YTD INCK
Current Period/QTD/YTD INCL
Divisions Side by Side (YTD) INCM
Divisions Side by Side (current) INCN
Companies Side by Side (current) INCO
Six-Month Comparison INCP
   
Balance Sheets Layout ID
Ratio Analysis RATA
Not-For-Profit Statements  
Statement of Functional Expenses 3YSFE
Statement of Functional Expenses REXGR
Statement of Functional Expenses SFE
Statement of Financial Position SFP
Statement of Financial Position SFP1
Statement of Functional Expenses SFX
Statement of Activities SOA
ClosedDefining Statement Rows

The Statement Contents function controls the rows of the report. It tells the system which accounts to include in the report. In the statement content you can perform these tasks:

  • an account mask for each statement content, the mask must be identical for companies to have compatible account structures.
  • Specify the accounts and account segments to be used.
  • Add balances and print totals.
  • General report formatting such as printing lines of text, underlines, and shifting of column figures.
ClosedDefining Statements

Use the Statements function to specify the following information:

  • Statement layout and statement content IDs used to generate the financial statement.
  • A header and footer for the financial statement.
  • Paper size and orientation.
ClosedBatching Statements

Use the Batch Statements function to set up print parameters for a group of statements in a single record.

  • Statement IDs to include in the batch to print
  • GL period
  • Range of dates and accounts
  • Companies to include
  • Segment sort order
  • Whether you want segments to print in detail or summary
  • Whether zero balance accounts should be printed
  • The Account Segments you want included with the statement when printed
ClosedPrinting Financial Statements

Use the Financial Statements function to specify the following information:

  • Batch or statement ID to print
  • GL period
  • Range of dates and accounts
  • Companies to include
  • Segment sort order
  • Whether you want segments to print in detail or summary
  • Whether zero balance accounts should be printed
  • The Account Segment numbers you want included with the statement when printed

If some financial statements are routinely produced for the same companies, you can group these financial statements in a batch statements record. Then instead of entering printing parameters each time you produce the statements, enter the batch ID for the group of statements and print the group of statements in a batch.