Overview
You can use the General Ledger Report Template to design the financial statements for the company. Financial statements include the Balance Sheet and Profit and Loss statements.
Key Functionality
Definitions and Descriptions
Lookup
Use the Lookup Existing Record field to select a Financial Statement to view or update.
Format Description
Use the Format Description field to define the name of the financial statement.
To create a new Format Description, type the description in the Format Description field.
Format Type
Use the Format Type option group to define the financial statement as either a Profit & Loss or Balance Sheet.
Click either the Profit & Loss or the Balance Sheet option for a new statement. If this is an existing statement, the system automatically displays the Format Type.
Note: If you select Profit & Loss, only accounts with a category of Income or Expense from the chart of accounts display in the Report Format details. If you select Balance Sheet, only Asset or Liability accounts display.
Insert Row Button
Use the Insert Row button to insert a line, including a header or footer, in an existing section of the format.
Click on the row that you want to insert the new row above and click the Insert Row button.
Note: If you erroneously insert a new row, press the Escape key, click the record selector (gray bar to the left of the newly created record), and click the Delete button or press the Delete key.
Type
Use the Type field to define this line item as a Header, Account, or Footer.Type or select the Type to assign to this line item.
The following special rules apply to the Header, Account, and Footer Types:
Header - If you select Header, the following fields are affected:
G/L #
Disabled
Description to Print on Report
Enter the Header information to print on the report in this field. The description can be the main header for the report format or subheadings for different areas of the report such as Current Assets, Current Liabilities, etc.
Other Properties:
Balance Sheet Options: 1, 2, 4 & 5 are available. Options 3, 6, 7, 8, 9, 10 and 11 are disabled.
Financial Statement Options: 1, 4 & 5 are available. Options 2, 3, 6, 7, 8, 9, 10 and 11 are disabled.
Note: Option 1 allows only whole numbers between 1 & 9 and defaults to 1. The System will automatically check Other Properties check box 3 (Normally a Debit) for Assets and Expenses. If this is not a Debit, you will need to uncheck the check box manually. The System will automatically check Other Properties check box 6 for Income. If this is not an Income, you will need to clear the check box manually.
WinTeam automatically selects this option, which causes the Description field to print on the report.
Total Levels
Disabled
Account - If you select Account, the following fields are affected:
G/L #
The only G/L Numbers that display in this list are those G/L Accounts not yet used in the financial format.
Description to Print on Report
Defaults to the description of the selected G/L #. You can modify the description for report purposes without affecting the system’s default description.
Other Properties:
Based on the Format Type, the appropriate properties become available for selection. Special Property settings are as follows:
Balance Sheet Options: 1, 2, 3, 4, 5, 7 & 8 are available. Options 6, 9, 10 and 11 are disabled.
Financial Statement Options: 1, 3, 4, 5, 6, 7 & 8 are available. Options 2, 9, 10 and 11 are disabled.
Note: Option 1 allows only whole numbers between 1 & 9 and defaults to 1.
The system automatically selects this field, which you may clear.
Total Levels
The system automatically selects all 8 (eight) levels. If you clear a level, the system also clears all levels below.
Footer - If you select Footer, the following fields are affected:
G/L#
Disabled
Description to Print on Report
Enter the Footer information to print on the report in this field. Use it to describe the total of the different areas of the report such as Total Current Assets, Total Current Liabilities, Gross Margin, etc.
Other Properties:
Balance Sheet Options: 1, 2, 3, 4 5, 7 & 8 are available. Options 6, 9, and 10 are disabled. Option 11 can only be used once per template.
Financial Statement Options: 1, 3, 4, 5, 7, 8, 9 & 10 are available. Options 2, 6 and 11 are disabled. Option 9 may be used on multiple Footer records, but Option 10 can be can only be used once per template and cannot be used in conjunction with Option 9.
Note: Option 1 allows only whole numbers between 1 & 9 and defaults to 1.
The system automatically selects this option, which causes the Footer Description and totals to print on the report.
Total Levels
Allows you to create subtotals and totals at different levels of the financial statement.
G/L #
Use the G/L # field to define the general ledger account for this line. If the Type is Account, this field is required. If the Type is Header or Footer, this option is disabled.
Type the General Ledger account number in this field, or use the Lookup to locate the GL Number. If the Format Type is Profit and Loss, only Income and Expense accounts are available. If the Format Type is Balance Sheet, only Asset and Liability accounts are available.
Note: If the check box "Show only accounts not yet selected" is selected, the system displays only the accounts not yet used in this financial statement. If the check box is clear, all valid accounts display.
Description to Print on Rpt
Use the Description to Print on Rpt field to define a description for this line. If the Type is Account, this field defaults to the chart of accounts description based on the G/L # field. If the Type is Header or Footer, the field is blank.
For Header or Footer Types, type the Header or Footer description. For Account Types, you can modify the description for report purposes without affecting the system’s default description.
Other Properties
Use the Other Properties options to customize selected properties for each Format Type and Detail Type, as follows:
1. Line Spacing After
Skips extra lines between Accounts, Headers, or Footers on the report. Enter any number of lines from 1 to 9. Negative numbers are not accepted. Default is 1.
2. Page Feed After
Inserts a page feed. The page feed initiates after this line prints on the report. Default is no page feed.
3. Normally a Debit
4. Bold
Formats all of the information on this line in bold characters on the report.
5. Italics
Formats all of the information on this line in italicized characters on the report.
6. Denominator for Sales Ratio
Marks the income accounts to include in the calculation of Sales Ratios. Sales Ratios print on the Budget Income Statement.
7. Print a single line after amount prints
Prints a single line before amount prints.
8. Print a double line after amount prints
Prints a double line below the dollar value for this line item.
9. Taxes and Insurance Total
A special Footer line that totals and prints Payroll Taxes and Insurance from the labor entries (debit entry) in the general ledger.
10. Taxes and Ins Contra Total
This option is the other side of the Taxes and Insurance Total Field. This is a credit entry of the total Payroll Tax and Insurance dollars for all consolidations added together.
11. Total Earnings for Current Year
A special Footer line that totals all of the Income and Expense accounts for the fiscal year in the general ledger file.
Note: Each Balance Sheet should include one Footer line with this box selected. In addition, the system allows only one Total Earnings for Current Year per Balance Sheet.
Note: This option is only enabled for the footers entered on the balance sheet. It is invisible on the Profit and Loss statement and only enabled for selection (a) on the balance sheet when the detail type is Footer.
Check the Print option to print this line on the report. The system checks the Print option by default.
Clear the Print option to suppress this line from printing.
You can clear the Print option when you want to print a total but do not want to print its components. For example, you can suppress Equipment Depreciation, Equipment Repairs, and Equipment Rental, and print a total made up of these items.
Total Levels
Use the Total Levels options for configuring total columns on the financial statement. The system disables this option for lines defined as Header Types.
There are 8 totals buckets that accumulate for totaling sections of information. All 8 levels default to calculate as you enter each account.
When you click on a cleared level, the system selects that level and all the levels above it. For example, if you select level 4–levels 4, 5, 6, 7, and 8 are selected. For Account types only, not Header or Footer types.
When you click on a selected level, the system clears that level and all the levels below it. For example, if you clear level 4–levels 4, 3, 2, and 1 are cleared.
Note: Normally level 8 is used to compute "Net Earnings".