Balance Sheet Report

Follow

A simple Balance sheet report is now available using BI4Cloud.

Standard reporting periods available are:

• Period End - The Balance date selected in the date filter
  • if This Month then it is This Month to Date
• Prior Period End - The prior month end before the Balance date selected 
• Period End LY - The same period Last Year as the Balance date
• Prior Period End LY - The month prior to the Balance date Last Year
• EOFY PY - Balance at last Financial Year End

At present we are not able to display the actual dates on each column heading, only the relevant headings as described above.  See the Red dates below to help you understand the dates relative to the selected "Period End" date.

GL Balance Sheet Summary

Change Balance Date

 To Change the Balance date used to report for Period End click on the Calendar icon or click the Purple circles/play buttons to move the date backwards or forwards a month at a time.

Add & Remove Columns (+/- Cols)

To hide some of the columns click on the +/- Cols icon and select which columns to Hide.

GL Balance Sheet - By Account

To see a more detailed Balance Sheet simply

• Change Row dimensions using the Analyse by field or
• Click on a row to Drill down to see the accounts that make up that Account Group

Balance Sheet - by Account and Account-Sub Type

If reporting by Account you might also want to set up Sub-totalling by:

• Account-Sub Type e.g. Bank, Accounts Receivable, then by
• Account-Type e.g. Asset, Liabilities
• Click here to learn how to create multiple Subtotals

Balance Sheet - by Account and GL Account Level headers

Or if reporting by Account you might also want to set up Sub-totalling by:

• GL Account Level Headers that you have setup in your Account List, then by
• Account Type e.g. Asset, Liabilities
• Click Here to learn how to setup GL Account Level Headers

Balance Check

Our standard Balance Sheet reports show a Grand Total which should add to $0. This is designed to be a Balance Check row at the bottom of the report.  To hide this row, click on the Properties icon and untick the  Show Grand Total box.

Consolidated Balance Sheet

Choose the Group Entity to run a Consolidated Balance sheet.

To create a Consolidated Balance Sheet showing each Company as a Column:

• Run one of the Balance sheet Favourite reports 
• Click on the Advanced (Cog Icon)
• Change Report type to Pivot - (Click here to learn more about creating Pivot reports)
• Check the settings:
  • Then by = Company this sets the Company as the Column dimension
  • Pivot = the Data the report will Pivot or report on (e.g. Period end  will show the Balances as per the Selected date range 
  • Date Range = the Selected Date Range for the Balance Sheet - used to determine This Period

The resulting Consolidated Balance sheet will appear as:

Other Suggestions 

Filter your Balance Sheet to focus on only some accounts.

I like to always make sure I have a positive "Net Liquid Assets".  That is, what I have as Cash at Bank plus what will soon be cash (my Accounts Receivable) less what I have to pay shortly (my Accounts Payable and maybe certain GST and Tax obligations).

• Run one of the Balance Sheet Favourite Reports
• Click on the Filter (Blue Funnel) - Click Here to learn about Filters
• Select which Account Sub Types or GL Account Levels to report on
  • Suggest you select account groups, then if later you add in new Bank accounts etc they will automatically be picked up in this report.
  • If you filter for only specific accounts now, then when you add new accounts later you will need to remember to go back and change this report manually to pick up the new accounts.
• Click Done

The Report will look like this. Note the Net Liquid Assets are Positive so this business has enough cash plus cash coming in shortly to cover all Accounts Payable.

Save your Changes as a New Favourite

To keep your hard work Save it as a new Favourite report to run over and over again.

 BI4Cloud.com