Financial reporting is essential for analysing business performance, tracking revenue, and making informed decisions. Whether you’re new to financial reporting or looking to streamline the process, this guide walks you through the simple steps to generate a report efficiently.
Creating the User Defined Report
Step 1: Navigate to “Financial Reports”
To begin, use the search bar to locate “Financial Reporting.”
On the Financial Reports page (previously Account Schedules). This list contains all the financial reports available, including system-maintained reports (starts with “M-”).
This section helps organise financial data into structured reports, making analysis clearer and more effective.
Step 2: Create a New Financial Report
On the Financial Reports page, select the New action to create a new financial report. This step allows you to set up a report tailored to your specific financial tracking needs.
Step 3: Enter Report Details
To complete the setup, fill in the required fields, including:
- Name – Assign a unique identifier for the report.
- Description – Provide a brief explanation of the report’s purpose.
- Row Definition – Structure the financial data based on categories or account types. Refer to the instructions below for setting up Row Definition.
- Column Definition – Specify how the financial figures will be displayed for easy interpretation. Refer to the instructions below for setting up Column Definition.
- Negative Amount Format – Controls how negative values appear in the report (Options: Minus Sign, Parentheses)
- View by – Determines the time period for displaying amounts, with options including Day, Week, Month, Quarter, Year, and Accounting Period.
- Date Filter – This setting allows you to define specific date ranges that will be used to filter amounts in the window.
- Show All Lines – With this option, you can choose whether the page should display all lines.
- Default Excel Layout – Defines the Excel format that will be applied when exporting the report.
- Internal Description – specifies a short internal summary of the financial report, offering key details for reference.
- Edit Introductory/closing paragraphs:
- Introductory Paragraph: A concise overview of the financial report, highlighting its key objectives and scope.
- Closing Paragraph: A summarization that reinforces the main findings and provides a final perspective on the report.
Generating a Financial Report: A Simple Guide
Producing accurate financial reports is essential for tracking performance, budgeting, and making informed business decisions. Whether you’re preparing for an audit or simply need a snapshot of financial data, this step-by-step guide will walk you through the process effortlessly.
Step 1: Select Your Financial Report
Start by navigating to the Financial Reports page, where you’ll find a list of available reports. Choose the financial report you wish to print, then click Print/PDF to proceed.
Step 2: Customise Report Parameters
Before generating the report, you’ll need to configure key details in the Options Fast Tab:
- Starting Date: Select the start date to define the beginning of the financial data range. This field is mandatory.
- Ending Date: Set the end date to determine the cutoff for financial data. This is also mandatory.
- G/L Budget: If needed, click the dropdown button and select a relevant General Ledger (G/L) Budget from the available list.
- Cost Budget Filter: If needed, click the dropdown button and select a relevant code for a cost budget that the report will be filtered on.
Show Fast Tab: Tweaking these settings helps make your reports clearer, more efficient, and visually easier to read, so you can better understand your financial data.
- Show Error setting determines whether the report will display error information. You can choose from the following options:
- None – No error details will be shown.
- Division by Zero – Highlights errors related to division by zero.
- Period Error – Displays errors related to incorrect period data.
- Both – Includes both types of error information for a comprehensive review.
- Show Row No. – Enables row numbers for easy reference and tracking.
- Print Alternating Shading – Shades every second row to improve readability.
- Skip Zero Balance Lines – Automatically removes lines where the balance is zero to declutter reports.
- Show Currency Symbol – Adds currency symbols to amounts for better financial clarity.
- Show Empty Amounts As – Defines how empty account balances should be displayed:
- Blank – Leaves the field empty.
- Zero – Displays a zero value.
- Dash – Uses a dash as a placeholder.
- Negative Amount Format – Controls how negative values appear in the report:
- Minus Sign – Uses a standard minus (-) sign.
- Parentheses – Displays negative amounts in parentheses for better distinction.
Step 3: Print or Preview Your Report
Once you’ve entered the necessary details, finalise the process by choosing one of the following options:
- Print – Generates a physical or digital copy of the report.
- Preview & Close – Allows you to review the report before finalising.
Sample User Defined Financial Report
Row Definitions in Financial Reports
Row definitions play a critical role in organising financial data that can’t be calculated directly from the chart of accounts. In this guide, we’ll walk you through the steps to create and define rows for precise financial reporting.
What Are Row Definitions?
Row definitions allow users to set up custom calculations and organise financial elements within a report. They help break down financial data into structured sections, such as assets, liabilities, and income, for easier analysis.
Step 1: Access Row Definitions
To begin, go to the Financial Report page and click “Edit definitions”, then select “Row Definition”. You can also use the search bar to locate it quickly.
Step 2: Open Row Definition Editor
Once on the Row Definition page, click the Assist Edit button to modify existing row structures or create a new definition.
Step 3: Create a New Row Definition
Click New to add a new row definition and fill in the necessary fields:
- Name – Assign a unique identifier.
- Description – Provide a brief explanation of its purpose.
- Analysis View Name – Choose from a predefined list or create a new one.
Step 4: Define Financial Elements
Create rows for each financial component you’d like to include in the report (e.g., current assets, fixed assets). Click OK to confirm.
Step 5: Insert Accounts into Row Definitions
On the Row Definition page, select the financial data types you’d like to insert . Options include:
- G/L Accounts – Add general ledger accounts for structured tracking.
- Cost Types – Include cost breakdowns for financial analysis.
- CF Accounts – Incorporate cash flow accounts for a holistic view.
For this example Insert G/L Accounts is used. Select all relevant G/L accounts, click OK, and they’ll be added to your Row Definition.
Step 6: Configure Row Details
Customise each row by defining key parameters:
- Row No. – Identifies the line; default is Account No. (editable).
- Description – Specifies how the row appears in the financial report.
- Totalling Type – The type determines which accounts within the totalling interval you specify in the Totalling field will be totalled.
- Totalling – Defines a range of accounts or a selection of account numbers. The corresponding entries within these accounts will be aggregated to calculate a total balance, with the totalling method determined by the Account Type field.
- Row Type – Defines the row type for the row definition. The type determines how the amounts in the row are calculated . (Options: Net Change, Balance at Date, Beginning Balance)
- Amount Type – Identifies the type of entries that will be included in the amounts in the row definition. (Options: Net Amount, Debit Amount, Credit Amount, Carbon Fee, CO2e)
- Show Opposite Sign – Adjusts debit/credit sign formatting.
- Formatting Options – Apply bold, italics, underline, or enable a page break.
Finalise Your Row Definition. All modifications are automatically saved as you work on the Row Definition page, ensuring data accuracy without manual saving.
Column Definitions for Financial Reports: A Step-by-Step Guide
A well-structured financial report relies on properly defined columns to ensure accurate comparisons and insightful analysis. Whether you’re tracking year-over-year changes or organising a detailed 12-month budget overview, setting up column definitions is a crucial step. This guide walks you through the process of defining columns to customise your financial reports.
Why Use Column Definitions?
Column definitions allow users to specify which financial data should be included in a report. You can create layouts that compare net change and balance for the same period across different years or set up multiple columns to break down budget details across months.
Step 1: Access the Column Definition Page
To begin, use the search bar to find “Column Definition” .
Step 2: Create a New Column Definition
Click New to set up a fresh column definition. Then, enter:
- Name – Assign a unique identifier.
- Description – Provide a brief explanation.
- Analysis View Name – Select an existing analysis view or create a new one.
Step 3: Edit Column Definition
After creating the column definition, click Edit Column Definition to configure individual columns.
Step 4: Define Columns
Customise the columns by specifying key parameters:
- Column No. – Assign a number to identify the column in the analysis view.
- Column Header – Set a label for the column in your report.
- Column Type – Choose how amounts will be calculated.
- Ledger Entry Type – Select between Entries or Budget Entries to define data sources.
- Amount Type – Specify the type of entries included.
- Budget Name – Indicate which budget amounts will be totalled.
- Formula – Apply calculations to financial data (e.g., Column A + Column B).
- Show Opposite Sign – Adjust debit/credit sign formatting.
- Comparison Date Formula – Specifies a date formula that specifies which dates should be used to calculate the amount in this column.
- Show – Configure visibility settings for the column in reports.
- Rounding Factor – Determine how figures will be rounded.
Finalising Your Column Definition. Once you’ve completed the setup, all changes are saved automatically, ensuring consistency in your financial reports.