Financial Statements and Roll-Up

Financial Statements and Roll-Up

The FIMS General Ledger consists of Account records that you can use to track the financial state of your organization. You can use Design Statements to create financial statements that present this data and schedules that your organization, board, and auditors require.

The Row Format and the Column Format together determine which account(s) will print on a particular line (also called a row) of a financial statement and which information will print in each column, (for example, budget or actual, month-to-date, or year-to-date figures). In addition to printing a particular account value you can also print lines that contain information such as text descriptions, calculated totals, underlines, or blank lines.

Example:

In order to create a Statement of Financial Position for the Jefferson Fund you could design a dedicated financial report by specifying (in the Row Formatter) the full General Ledger Account Key for the account balance (or range of account balances) you want to print in each row. For example, one row might always print the balance of a range of specific asset accounts in the Fund. Another row might print the balance of a specific liability account range, and another a specific beginning balance account.

You could save the resulting Row Format and combine it with a simple Column Format under a Statement name such as BAL-JEFF. Then you could run the statement any time you wanted a balance sheet for the Jefferson Fund. However, if you use this method, you will need to create a separate Row Format for each Fund that needs a balance sheet.

Instead of creating a separate Row Format for each Fund, you can enter only the natural account number segments in the From and Through fields. For example, to print the Beginning Fund Balance - Principal account information you could enter 31000 in both the From and Through fields. Then, save the complete Row Format with a Column Format under the generic Statement name BAL. When you run the report (as a Fund Statement), you can specify which Fund or group of Funds you want to create balance sheets for.

You could also run the same report as a Consolidated Financial Statement. If you run the statement without selecting any Fund codes, you will get a balance sheet for the entire organization. This is called a roll-up. If you run the report again via Financial Statements Consolidated, but this time specify that the Sub Type code should be F, you will get a consolidated balance sheet for all field of interest Funds.

In other words, if you use the natural account number in the Row Formatter (instead of the full General Ledger Account Key), you can roll up the statement at run time based on any of the other segments in the General Ledger Account Key.