Analyse your chart of accounts by dimension using account schedules in Microsoft Dynamics 365 Business Central
This blog article builds on from an earlier post explaining the use of Dimensions. Account schedules in Dynamics 365 Business Central and NAV allow us to access and report on this information within the general ledger.
What are Account Schedules in Business Central?
The Account Schedules in Business Central are used to get insight into the financial data stored in the chart of accounts. You use account schedules to analyse figures in general ledger accounts or to compare general ledger entries with general ledger budget entries by Dimensions.
Being a Microsoft product, the account schedules can be exported directly into Excel, it is also possible to export them directly into PDF to attach to an email as a report pack.
The Account Schedule Layout
The account schedule is split into two sections, the first is the Row Layout, and the second is the Column Layout.
The row layout contains accounts from the GL or Budget, the rows can be actual GL accounts, Budget accounts, or calculations based on GL accounts for example, Sales lest cost of sales = profit.
It is also possible to repeat a GL account but with a filter applied, so for example you are able to have the stationary account several times on the rows, but the first time with a filter of Perth, and the description changed to “Perth Stationary” the next line being “Melbourne Stationary” …etc. Following the office breakdown you are able to create a total line.
It is also possible to create headings and structure the report into sections in the same way you would in Excel.
See an example of Row Layout below:
The Column Layouts determine how the numbers will be displayed there are many ways they can be used but some examples might be:
- Calendar vs financial days, weeks, months, years;
- Multiple periods showing monthly columns;
- Budget figures for a period;
- Actuals for a period;
- A calculated column of the variance between budget and actual;
- Columns showing the period to date previous year / month and variance to current.
See an example of Column Layout below:
So there you have it, account schedules allow for the financial users to create their own financial reports & statements, and use the dimensions in the system to allow for a high level of detailed reporting.
The rows and columns that are created by the user when they create new reports can be re-used meaning making new reports or adapting current reports becomes easy.
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Elvin has worked in Microsoft Dynamics NAV and Business Central implementations since 2008, consulting, development and support across a wide range of industries including finance, education, government, hospitality, retail, and textile industries. Elvin has strong business analysis skills gained through project implementation and consulting.