GL - Income Statement
Overview
This program is used to produce either:
- A Period Actuals Report.
- An Income Statement (formerly Statement of Financial Performance / Profit and Loss Statement).
- An Income Chart or an Expense Chart.
It uses accounts with an 'Account Type' of 'I' or 'E'. These are set up using program Finance > General Ledger > Account & Journal Information > Accounts on the 'General' tab.
This Income Statement program has extensive options that can be activated via run-time settings. These settings can be saved as a report 'Configuration'.
You can save more than one 'Configuration'.
As an example, you might save different configurations including:
- A consolidated version of the Income Statement that you produce for the school board.
- A detailed version of the Income Statement that you produce for the finance committee.
- A bar chart based on consolidated expenses.
- A bar chart based on consolidated income etc.
To use a previously saved report configuration, select it from the 'Use a Previously Saved Configuration' picklist and click 'Next'.
The 'Use a previously saved configuration' picklist will only be available if a saved configuration exists.
To create a new configuration, click the 'Next' button without selecting an option from the 'Use a Previously Saved Configuration' picklist.
Enter your runtime options for the program.
To save the runtime options that you have entered as a re-usable report configuration, enter a meaningful description into the 'Save this Configuration as' field on the 'Process' or 'Print' tab.
You can delete a report configuration by selecting it from the picklist, clicking the 'Next' button, and then clicking the 'Delete' option.
You can modify an existing configuration by selecting it, making the necessary changes to the run-time options, then clicking 'GO' on the 'Process' or 'Print' tab. You need to ensure the 'Save this Configuration as' field is populated with the report configuration name. This field is populated automatically when an existing configuration is selected.
Period Actuals Report
This produces a report in a landscape format that includes the annual budget, actual figures for each period (usually 1 – 12), and the year total.
General Tab
Select the 'Period Actuals Only' radio button.
Select the options required for your report:
- Year.
- Budget (number).
The tab also displays the segments that can be used as filters for this report. If you are running this report for all segments, leave this blank.
Each segment allows multiple selections to be made. Holding down the 'Shift' key while clicking on your options enables a range selection; holding down the 'Ctrl' key enables selection of multiple discrete (individual) criterion.
For example, producing a Period Actuals report for the 'Middle' and 'Senior' schools (if these have been set up as 'School Sections' in the first segment).
Print Tab
Because you have elected to run this report as a 'Period Actuals Only' on the 'General Tab', the options that are available on this tab are limited.
Export Options
Choose the 'destination' of the report. This can be to Adobe® PDF viewer, Microsoft Excel® or Microsoft Word®. These options will be disabled if the report is being run as a chart.
Formatting Options
Show Table Borders and Alternative Row Colours | The 'Table Borders' and 'Alternate Row Colours' options can enhance the readability of the report but are not available if the listing destination is Excel®. |
Report Options
Print Account Codes | Check this box if you want to include the account code on your 'Period Actuals' report. |
Include Hyperlinks | Use this option to allow 'drill-down' to the account records once the report has been generated in PDF. |
Include Accounts with Zero Balances | Leave unchecked to exclude zero balance accounts from the report. |
Save this Configuration as
To save the settings that you have entered as a re-usable report configuration enter a meaningful description in this field.
Income Statement Report
The Income Statement is a statement of this entity's financial performance based on income and expense accounts.
Important!
The company description at the top of the report uses the description that is set up in Finance > General Ledger > Setup Information > Company Information. It uses the 'Full Name' field first and if it does not find a description, it then reverts to the' Name of School/Company Name' field.
General Tab
Select the 'Income Statement' radio button.
Select the options required for your report:
- Year.
- Start Period.
- End Period.
- Budget (number).
The tab also displays the segments that can be used as filters for this report. If you are running this report for all segments leave this blank.
Each segment allows multiple selections to be made. Holding down the 'Shift' key while clicking on your options enables a range selection; holding down the 'Ctrl' key enables selection of multiple discrete (individual) criterion.
For example, producing an Income Statement for the 'Middle' and 'Senior' schools (if these have been set up as 'School sections' in the first segment).
Print Tab
This tab is split into a number of sections.
Report Types
Income Statement | Check this radio button to run the report using the 'Income Statement' format. |
Trading Entity Statements | Check this radio button to generate Income Statements for the trading entities only. A separate Income Statement will be generated for each Trading Entity. Trading Entities are setup using 'Reporting Code 5'. Examples could be 'School Shop', 'Borders Shop', 'Uniform Shop' etc. The sub-heading at the top of each Trading Entity Income Statement will be taken from the description of each Reporting Code 5. When checked, this option will automatically uncheck the 'Consolidate Trading Entities (uses 'Reporting Code 5') option in the 'Report Options' section of this tab. 'Reporting Code 5' is set up using a similar methodology as outlined in 'How to Setup Reporting Code 3 for Used for Grouping/Consolidating in the Income Statement'. Once the setup of your trading entities has been completed, the way to use this functionality in this report is to:
|
Chart | Check this radio button to run this report as a bar or pie chart. This enabled the 'Charting Options' below. |
Export Options
Choose the 'destination' of the report. This can be to Adobe® PDF viewer, Microsoft Excel®, Microsoft Word® or a screen with hyperlinks.
The 'Screen with Hyperlinks' format is best if you need to 'drill-down' to further information.
These options will be disabled if the report is being run as a chart.
Charting Options
These options are only available if the 'Chart' radio button has been selected in the 'Report Types' section of this screen.
The charting choices available to you are:
- Bar Chart or Pie Chart (Pie Charts can be run with or without the legend).
- Expense accounts only or Income accounts only.
- Month to Date or Year to Date. (This determines which period based figures that will be used in this graph).
Important!
Charts render best in a consolidated mode. Use the 'Consolidate on Reporting Code 3' option (if you have set up group codes as detailed in 'How to Setup Reporting Code 3 Used for Grouping/Consolidating in the Income Statement').
Layout Options
The Layout Options section allows you to pick and choose what data is displayed including period and Year-to-Date, Actuals and Budget information and an 'Include Prior Year' option enables you to include the previous year's figures on your report.
Include Forecast | When this is selected, the Income Statement layout will include an additional 'Forecast' column after the 'Year to Date Variance' column. The amounts will be calculated by summing the 'Year to Date Variance' Amount and the 'Annual Budget' Amount. This option will be automatically disabled when 'Include YTD Actual' is deselected. |
Include Annual Budget | When selected, the 'Annual Budget' column is included. |
Include Period Actual | When selected, the 'Period' column is included. If this option is deselected, the 'Include YTD Actual' option will be automatically selected. |
Include YTD Actual | When selected, the 'Year to Date' column is included. If this option is deselected, the 'Include Period Actual' option will be automatically selected. |
Include Budget/Variance | When selected, the 'Budget and Variance' columns will be included for 'Period' and 'YTD Actuals' (if they are selected). |
Include Prior Year | When selected, the 'Last Year' column will be added under both 'Period' and 'Year to Date'. |
Formatting Options
Show Table Borders and Alternative Row Colours | The 'Table Borders' and 'Alternate Row Colours' options can enhance the readability of the report but are not available if the listing destination is Excel®. |
Exclude Sub-Headings | If you are running this report using one or more 'Segments' on the 'General tab' as filters, the report will print the 'Segment' description and each selected option (under the heading section). Tick this box to exclude these from printing on your report. |
Include Forecast Column | When this is checked, the Income Statement layout will include an additional 'Forecast' column after the 'Year to Date Variance' column. The amounts will be calculated by summing the 'Year to Date Variance' Amount and the 'Annual Budget' Amount. |
Report Options
Print Account Codes | Check this box if you want to include the account codes in your Income Statement. |
Include Hyperlinks | Use this option to allow 'drill-down' to the account records once the report has been generated in PDF. This is not available on consolidated reports. |
Include Accounts with Zero Balances | Leave unchecked to exclude zero balance accounts from the report. |
Consolidate Trading Entities on Reporting Code 5 | When this is checked, the Income Statement will report each Trading Entity as one net total amount, i.e. All income and expense accounts with Reporting Code 5 will be summed. Therefore these accounts will not be shown elsewhere on the Income Statement. This 'Trading Entities' group will be shown at the end of the Income section as per the following sample.
The heading description ('Trading Entities' in the above example) is taken from the description of 'Reporting Code 5'. Each line item description ('Uniform Shop', 'Book Shop' and 'Stationery Shop' in the above example) will be taken from the description of each 'Reporting Code 5' (ordered by reporting code). |
Separate by Reporting Code 2 | 'Reporting Code 2' (Financial Statements - Separation Codes) has been reserved to separate the Income Statement into distinct reporting sections such as 'Operating' and 'Non-Operating'. Within each section, you get a separate income statement and then an overall consolidation at the bottom of the report. 'Operating Surplus or Deficit' + 'Non-Operating Surplus or Deficit' = 'Net Surplus or Deficit'. Hence, 'Reporting Code 2' is used for a higher level of break in the data than 'Reporting Code 3'. 'Reporting Code 2' is set up using a similar methodology as outlined in this documentation for setting up 'Reporting Code 3'. |
Group By | Alternatively, you can elect to group by reporting codes 1 or 4. |
Consolidating Options
No Consolidation | This is the default for the program and the report will show all accounts separately. |
Consolidate on Chart Code | When checked, this option will consolidate the line items shown, based on the 'Chart' section of the GL structure within each account code. The description for each line item will be taken from the account description from the first account code used in the consolidation. In the example below, consolidation would occur at the '1000' chart level:
This option is not able to be checked when the 'Consolidate on Reporting Code 3' box is checked and vice versa. |
Consolidate on Reporting Code N | You would use this option where you need consolidation to occur based on a different reporting code to the one that you chose above to 'Group By'. This documentation refers to this as 'Mid or Custom' level consolidation. As an example, you have used 'Reporting Code 3' to break the income section into the headings suggested in the example in the 'Group By' field above. Income Section Example:
However, you do not want to consolidate on these headings but need to consolidate several accounts within some of these headings. To achieve this you have attached either 'Reporting Code 1' or '6' to the relevant accounts. Therefore you elect to:
|
Consolidate on Reporting Code 3 | This will set the consolidation for your report to 'Reporting Code 3' level. |
Save this Configuration as
To save the settings that you have entered as a re-usable report configuration enter a meaningful description in this field.