How to Setup Reporting Code 3 for Grouping/Consolidation on the Balance Sheet

1

To utilise these reporting codes, you must first identify the groupings required within the Assets and Liabilities sections of the Balance Sheet.

For example, you may require the following groups:

ASSETS:

            Cash                                                   (A10)

            Debtors and Prepayments                     (A20)

            Property Plant and Equipment               (A30)

There is a special override code used to position type 'L' accounts within the 'Accumulated Funds and Reserves' section of the Balance Sheet:

            Accumulated Funds and Reserves        (NNN)  

2

Decide the order in which you want these subheadings to appear, and to allocate reporting codes accordingly — the key consideration is that the order of the groups is determined by the actual reporting code allocated. In the example above, the reporting codes are in brackets.

It is wise to leave gaps in the code allocations to facilitate easy expansion and scalability in the future.

3

Finance > General Ledger > Setup Information > General Ledger Setup

Setup these valid reporting codes on the 'Reporting Codes' tab. The description entered here is what will appear as the group heading on your Balance Sheet.

4

Finance > General Ledger > Account & Journal Information > Accounts Grid Entry.

The final step is to attach the appropriate Reporting Code (3) to each Asset and Liability GL code in the Chart of Accounts using the 'Reporting Codes Grid'.