v. 2.1 ; 1/27/2023
CUSTOMIZING FINANCIAL REPORTS
This guide will outline customizing financial reports in Business Central.
FINANCIAL REPORTs and akoyaGO reports
There are two methods for customized reporting in Business Central for akoyaGO:
- Financial Reports
- akoyaGO Reports (Fund Statement, Auditor Report)
The most used reports are a combination of these two methods, and can be run from the Actions menu under Reports
- Balance Sheet by Account – (Financial Report) Rows by G/L Account, columns include beginning balance, net change, ending balance
- Balance Sheet by Fund – (Financial Report) Rows by Fund columns include beginning balance, net change, ending balance
- Fund Statement – Customized for each client using the Fund Statement Layout tool. Rows can include G/L accounts or account groups, as well as transactional data
- Revenue and Expenditures – (Financial Report) Rows by G/L Account, one column for net change
- Auditor Report – Customizable report template which presents data with rows by fund and columns by account/account groupings as requested by your auditor. There are three columnar sections in the report: Income, Expenses, and Balances.
For instructions on how to modify the Fund Statement or Auditor Report, see the specific Knowledge Articles for those items.
Financial Reports allow users to design the account groupings and totals/formulas, to be displayed as rows in financial reports.
Some Financial Reports have been configured specifically for akoyaGO clients using Business Central. These take into special consideration structural factors such as the standard chart of account number ranges, dimensions (Fund, Department) and other features (Net Assets) programmed for akoyaGO.
To view/modify financial reports, navigate to Finance, then select Financial Reports
Each Financial Report has the following properties:
- Name: Shorthand name for the report
- Description: Name displayed in the report header
- Row Definition: Default row set to be displayed in the report
- Column Definition: Default option for the columns to be displayed in the report
- Row/Column Analysis View Name: If you link an analysis view to an Financial Report you can use the dimensions assigned to that view in the Financial Report lines. (Fund and Department are available by default)
To modify one of these properties, choose Edit List.
To create a new Financial Report select New, or select an existing report and choose Copy Financial Report
- Row No: Reference number for the row; can be any number; used in building formulas
- Description: The label displayed on financial statements.
- Totaling Type: You can select Posting Accounts (references g/l or budget accounts), Formula (references other rows in the report), or Account Category to reference any g/l account assigned to a particular g/l account category.
- Totaling: For Posting Accounts, the account, or group of accounts to be included in this row. For Formulas, the formula to be used for this row. For The G/L Account Category, the Category/ies included in this row.
- Row Type: Choose: Net Change, Balance at Date, or Beginning Balance.
- Amount Types: Choose: Net Amount, Debit Amount, or Credit Amount
- Show Opposite Sign: Mark to display debits as credits, or vice versa
- Show: Determines when the row is displayed: Yes (always), No (never), If any column not zero, When positive balance, or when negative balance
- Formatting options: Bold, Italic, Underline, Double Underline, New Page
- Fund Totaling: Use to limit the row to a particular fund, or group of funds.
- Department Totaling: Use to limit the row to a particular department, or group of departments.
The Financial Report Overview page is where you preview the financial report. Open the overview by selecting View Financial Report.
From the overview, users can apply filters and drill down into the data by clicking on the currency values.
Column definitions are used to define the columns that should be included in the resulting report. For example, you can design a layout to compare net change and balance for the same period this year and last year.
To edit column definitions:
- On the Financial Reports page, select the relevant report, and then choose Edit Column Definition.
- On the Column Definition page, create a row for each column by which financial data is shown in the financial report.
- Column No.: Reference number for the column; can be any number; used in building formulas
- Column Header: Column label displayed on the report
- Column Type: Choose from: Formula, Net Change, Balance at Date, Beginning Balance, Year to Date, Rest of Fiscal Year, Entire Fiscal Year
- Ledger Entry Type: Choose either Entries (general ledger) or Budget Entries
- Amount Type: Choose from: Net Amount, Debit Amount, Credit Amount
- Formula: Used for Column Type: Formula (Based on Column No’s)
- Fund/Department Totaling: Limit column results to particular Fund/Department
- Show Opposite Sign: Mark to display debits as credits, or vice versa
- Comparison Date Formula: Specifies which dates should be used to calculate this column
- Comparison Period Formula: Specifies which accounting periods should be used to calculate this column
- Show: Determines when the column data is displayed: Yes (always), No (never), When positive, or When negative
- Rounding Factor: Choose from: 1, 1000, 1000000
- Choose the OK button.
The comparison period is based on the period of the start date of the date filter. Accounting periods must be set up in Business Central for accounting period comparisons to display accurately.
COMPARING ACCOUNTING PERIODS USING PERIOD FORMULAS
Last period of a fiscal year, half-year, or quarter.
Current period of a fiscal year, half-year, or quarter. Use CP in formulas to set the period that starts or ends the formula. For example, FY[1..CP] denotes the time from the beginning of the current fiscal year to the current period.
Fiscal year. For example, FY[1..3] denotes first quarter of the current fiscal year
Examples of formulas:
Entire previous fiscal year
Current period in previous fiscal year
First quarter of previous fiscal year
From the beginning of previous fiscal year to current period in previous fiscal year, including both periods
From current period in previous fiscal year to last period of previous fiscal year, including both periods
If you want to calculate by regular time periods, you must enter a formula in the Comparison Date Formula field instead. For example, if the field is set to -1Y, Business Central compares to the same period 1 year earlier.
“akoyaGO” Financial Reports (AK-BALACCT, AK-BALFUND, and AK-REVEXP) use a specific, predefined layout, and should not be modified directly as changes may be overwritten.
To ensure the akoyaGO Financial Reports are up to date, select Process, then Auto Generate akoyaGO Financial Report, then select a report to update. This process ensures any account/fund changes are reflected in the standard reports.
Business Central provides four standard templates in financial reports. The name on these templates begins with “M”: M-BALANCE, M-CASHFLOW, M-INCOME, M-RETAIND.
Like other financial reports, these templates must be configured for your unique Chart of Accounts. This can be done manually, or automatically based on G/L Account Categories.
G/L Account Categories
To view/modify G/L Account Categories, navigate to Finance, then G/L Account Categories.
To modify the categories, choose Edit List
Assign G/L Account Categories
To assign categories to your G/L Accounts:
- Navigate to Finance, then Chart of Accounts.
- Click on the No. for the account to be modified
- Select the appropriate Account Subcategory
To update standard financial reports based on G/L Account Categories:
- Navigate to Finance, then G/L Account Categories.
- Choose Generate Financial Reports.
- Select whether to create new reports or overwrite existing reports