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 OBJECTIVES    

• Review the design of customized Financials
  Statements
• Discuss Parameter Review report and actual set up
• Understand column selections for financials
• Learn how to create financial statement budgets 

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PREREQUISITES

• The following procedures and records are
  recommended
• Printed General Ledger Chart of Accounts.
• Printed Trial Balance Report (Period and
  Year-To-Date)
• Printed Financial Statement Parameter Review
  reports
• Create a worksheet for initial design

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OPTIONS

• OPTIONS available for producing financials
  statements
• Auto Generate Parameters This option allows you
  to automatically generate the parameters for the
  Balance Sheet and Profit and Loss Statements.
  Standard Financial Statements will be generated
  based on the chart of accounts and control types.
• Auto Generate the standard financial statements,
  then use Add/Modify Parameters to modify the
  standard statements.
• Create customized financial statements using the
  Add/Modify parameters option.

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AUTO REGENERATE AND CHART OF ACCOUNTS

• Chart of Accounts modifications to chart of
  accounts will cause the following informational
  error to appear

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CONCEPTS

•  There are three types of lines or concepts used
  in the financial statement parameters
• HEADERS Used to print long description lines on
  financial statements.
• DETAIL These lines have the chart of account
  number referenced (ACCT SEL) and will show the
  dollar amount for the account number. You can
  have 1 or more account numbers referenced on a
  detail line. The detail line also has the TOTL
  SEL which is the total line number that the
  detail line will add into. Budgets can be added
  to detail lines.
• TOTAL Used to provide a place to add detail
  lines and show totals. Total lines can also add
  into other total lines. Budgets can be added to
  total lines.

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STEP ONE UP FRONT PLANNING

• Planning is KEY to CUSTOMIZED financial
  statements
• Decide how you want the completed financial
  statement to look
• Create the financial statement starting with
  totaling and work up to individual details
• CREATE A WORKSHEET
• Use a worksheet to conceptualize and plan
• Use a worksheet to layout the statement prior to
  input
• Use a worksheet to determine subtotals and
  totals, details and summaries
• Use Auto generated parameter review report as
  guideline

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PARAMETER REVIEW REPORT

• Auto generate parameter review report
• Use as a guideline
• Illustrates how Standard report is created
• Based on account type/control type
• Use Standard system generated financial parameter
  review report as aide to set up and audit

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PARAMETER REVIEW REPORT

• Parameter Review Report Based on account
  type/control type
• AS - Asset Account Control Types
• 105 Cash accounts for Payroll, General Account,
  savings and all other cash accounts.
• 110 Accounts Receivable for all construction
  related work.
• 115 Accounts Receivable for non-construction
  related items. This would include notes
  receivable, deposits, and other like accounts.
• 120 Retainage being held on construction
  billings.
• 125 All accounts that are set up for bad debt
  allowances.
• 130 Accounts that are established for the cost
  of jobs in progress under the completed contract
  method of accounting.
• 140 Accounts established for the posting of
  earned revenue under-billings amounts under the
  percentage of completion basis of accounting.

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PARAMETER REVIEW REPORT

• Parameter review report

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PARAMETER REVIEW REPORT

• Parameter Review Report

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WORKSHEET
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TOTALING

• TRIAL BALANCE 03/31/2006
• 100 CASH-GENERAL  \
  
• CASH-PAYROLL \ CASH EQV.
• 105 PETTY CASH /
  
• ACCTS REC \
  
• AR RET / CURRENT A/R
  
• NOTES REC \
  TOT.
• 125 OTHER REC / OTHER A/R
  CUR.
• 130 EMPLY LOANS
  ASSETS
• 132 RESERVE BAD DEBT
• 135 PREPAID EXPENSES
• 140 MATERIAL INV
• 150 LAND
• 155 AUTO TRUCKS
• 160 MACH EQUIP
• 161 ACC.DEP-MACH/EQUIP

• BALANCE SHEET
• TOTAL ASSETS
• TOTAL LIABILITIES
• TOTAL EQUITY
• TOTAL LIABILITIES
• AND EQUITY

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SUMMARY VERSUS DETAILS

• BALANCE SHEET
• DETAILS
• SUMMARY
• VERSUS
• DETAILS
• LINE ITEM DETAILS
• OR
• SINGLE LINE TOTAL

• TRIAL BALANCE 01/31/2006
• 100 CASH-GENERAL
• 102 CASH-PAYROLL
• PETTY CASH
• TOTAL CASH
• OR
• CASH REFLECT SINGLE LINE AMOUNT FOR
  ALL CASH ACCOUNTS COMBINED

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LINE NUMBERING

• BALANCE SHEET or INCOME STATEMENT
• ESTABLISH LINE NUMBERS
• Line numbering
• Balance Sheet .0100 - .4700
• Income Statement 1.0100 1.5600
• LEAVE ROOM FOR GROWTH
• LINE NUMBERING
• MUST ENTER ALL APPROPRIATE ZEROS
• LIMITS

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PARAMETERS ADD/CHANGE

• BALANCE SHEET OR INCOME STATEMENT
• TOTALS
• ADD OR SUBTRACT
• DEBIT OR CREDIT
• DETAIL LINES
• EVERYTHING IS POSITIVE
• SYSTEM TAKES NATURAL SIGN AND CONVERTS
• TO A POSITIVE FIGURE
• TOTAL LINES PLUS OR MINUS

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ADD/MODIFY PARAMETERS

• Select TYPE Balance Sheet or Income Statement
• Select FORMAT Single Company or Consolidated
• Line Details
• Select the line number you desire, hit tab key
  and the description will display and the action
  button will light up.
• Select the line type
• Header
• Detail
• Total

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ADD/MODIFY PARAMETERS
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ADD/MODIFY PARAMETERS

• Additional Parameters
• Left margin header lines only
• Start this line on a new page
• Skip lines cosmetic spacing
• Divide by total lines only Percentage of

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ADD/MODIFY PARAMETERS
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 ADD/MODIFY PARAMETERS - DETAILS

• Accounts Detail enter account(s) for this line.
• Summary presentation multiple account numbers
• Account Details Account Number
• CREDIT OR DEBIT
• Add or Subtract

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ADD/MODIFY PARAMETERS - DETAILS
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ADD/MODIFY PARAMETER - DETAILS
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 ADD/MODIFY PARAMETERS TOTALS

• Each detail screen requires Total Lines Detail
• Total Lines Detail
• CREDIT OR DEBIT
• Add or Subtract

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TOTAL LINES DETAIL
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ADDING LINES TO EXISTING STATEMENT

• You can add additional lines to an existing
  financial statement
• Create line number between two lines already
  created
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•  Type in a new line number
• Finish filling in the related information on
  Add/Modify screen and then click Add
•  Add Total Line
• Add Account(s) Detail
• Exit

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PRINTING FINANCIAL STATEMENTS

• Inquiries and Reports - Print Financial
  Statements
• Select type of financial
• Balance Sheet
• Income Statement Monthly
• Income Statement YTD
• Ratio Analysis
• Source and Use Analysis
• Select Print Standard Columns or Create your own
  Columns
• Print All Lines
• Parameter Review Report
• Multiple Financial Statements

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PRINTING FINANCIAL STATEMENTS
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PRINTING FINANCIAL STATEMENTS

• Action Codes
• A TIME FRAME
• B CURRENT BUDGET
• C MONTHLY TRANSACTIONS
• D PERCENT OF
• E VARIANCE DOLLARS
• F VARIANCE PERCENT
• G BLANK
• TIMES ONE through FOUR (Up to 4 time periods)
• COL1 and COL 2
• D Percent of
• E Variance Dollars
• F Variance Percent

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PRINT FINANCIAL STATEMENTS
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NON-STANDARD COLUMNS

• Identify Col1 and Col2
• Action Code D Percent of Col1 divided by Col2
• Action Code E Variance Dollars Col2 less Col 1
• Action Code F Variance - Col2 less Col1
  divided by Col2

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PRINT FINANCIAL STATEMENTS
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MORE CUSTOMIZED

• DIVISIONALIZED OR DEPARTMENTALIZED FINANCIAL
  STATEMENTS
• CONSOLIDATED FINANCIAL STATEMENTS
• Activate Company number field

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BUDGETING

• Budget Details
• No Budget
• Monthly Budget
• Budget
• Annual Budget
• Budget Details screen
• Select budget type
• Hit Details  
• Budget screen dependent upon budget selection
• Monthly month by month input amount or
  percent
• - Enter desired (not allowed for total lines)
  Percent of line or Percent of amount
• Annual Amount entered will be divided by 12

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BUDGETING
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BUDGETING
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EXPORT

• Export to Excel
• Export to PDF file
•  

Print to Screen then select Export icon
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EXPORT

• Export to Excel
• Export to PDF file
•  

Select Export type
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FINANCIAL RATIO REPORT
The Print Financial Statements Balance
Sheet Profit Loss - Monthly Profit Loss -
YTD Ratio Analysis Source Use Analysis
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FINANCIAL RATIO REPORT
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FINANCIAL RATIO REPORT

• Current Ratio Current Assets (control types 100
  to 154) divided by Current Liabilities (control
  types 200 to 259)
• Acid Test Cash Accounts Receivable (control
  types 100 to 114) divided by Current Liabilities
  (control types 200 to 259)
• Working Capital Current Assets (control types
  100 to 154) minus Current Liabilities (control
  types 200 to 259)
• Fixed Asset Newness Net Book Value of Fixed
  Assets (control types (160 to 164) less (165 to
  169)) divided by Fixed Asset Cost Basis (control
  types 160 to 164)
• Current Assets to Total Assets Current Assets
  (control types 100 to 154) divided by Total
  Assets (control types 100 to 199)
• Total Liabilities to Net Worth Total
  Liabilities (control types 200 to 299) divided
  by Net Worth (control types 300 to 399 Net
  Profit ((400 to 499) (500 to 599))

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SOURCE AND USE ANALYSIS REPORT

• The Source And Use Analysis report provides you
  with a review of significant changes that have
  occurred in your financial position during a
  selected time period. The analysis is based on a
  comparison of balance sheets at the beginning and
  end of the accounting period. Increases and
  decreases are arranged to present the sources and
  uses of funds during the time period.

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QUESTIONS ???