Versions Compared
Key
- This line was added.
- This line was removed.
- Formatting was changed.
You can add Add a tab in your Profit and Loss budget workbook in which you can created for your Balance Sheet budget . If required, you can tab and automatically derive your Cash Flow budget from the Profit and Loss and Balance Sheet budgets. You can then publish those budgets as streams in the Financial Statements module.
Add a Balance Sheet tab
Click the blue plus button next to the Main tab, enter a name for the Balance Sheet tab, select Balance Sheet, then click Add.
Image Removedfor 3-statement budgeting.
Create or open the financial budget workbook, then add the tab using one of these methods:
Click the Tab menu > Add tab > Balance Sheet.
Click the Add button at the bottom of the workbook and select Balance Sheet.
Set up the Balance Sheet and Cash Flow as follows:
Expand | ||
---|---|---|
| ||
|
|
|
Set the Balance Sheet budget hierarchy (determines how the dimensions are grouped in your workbook):
Select the dimension you want to sit at the top level in your budget hierarchy.
|
|
|
Select the Opening Balance stream, period end date (this date must be before your budget period start date) and measure. [should add more words around why you need to select opening balance, and also explain how there will be an opportunity to make adjustments to bridge the info to be the end-of-year balance sheet]
Click Create Balance Sheet.
Proceed to explore your new budget worksheet(s). A new tab is added to your budget workbook for the Balance Sheet budget. If you opted to add a Cash Flow budget, an additional tab is added for that budget.
Image RemovedExplore the Balance Sheet budget
[Need to also add a bit more detail on the ‘why’]
Worth talking to Kaan about cash being the balancing figure for the balance sheet to keep it balancing- will explain tomorrow what I’m talking about here if you’re in.
Click the Balance Sheet tab to view the budget, which has the following key elements, as identified by the numbers in the image below.
Opening balance column with data brought in from the selected stream.
Adjustments column where you can enter adjustments.
Adjusted opening column displays the new opening balance after your adjustments are taken into account.
Period columns
The data in every column references the data in the column to its left. For example, January 2021 references the Adjusted Opening column and February 2021 references January 2021.
If you enter a value in a cell, you will see that everything to the right of that cell will change.
Add an adjustment line
Gives you the ability to change the value above it
A hidden sum row sits under the adjustment line that references the left column and as a result, the data in all the columns to the right of that column updates accordingly.
Image RemovedView Retained earnings
The Retained Earnings (P&L Movement) value in the Balance Sheet is automatically inserted for you. This value comes from the Net Profit After Tax value in the Profit and Loss statement on the Main tab.
Image RemovedImage RemovedThe Shareholder Equity plus the P&L Movement gives you the value for the next column.
You can also add adjustment lines in this section of the Balance Sheet.
Other
You can reorder dimensions, add comparison rows.
Publish a balance Sheet
[info copied from elsewhere - to reword - from Dan: Publish a Balance Sheet- you refer to “I” a couple times when talking about publishing the difference but not sure it makes sense?]
You can publish your Balance Sheet budget to a stream.
Publishing a balance sheet is slightly different than publishing a budget. Instead of publishing the raw values which are in the cells, we have to publish the difference between where you are versus where you came from. So, for example, if I was published in the value for Feb 2021, I came from Jan 2021, and the difference here is zero. So I would publish a zero for Feb 2021.
Image RemovedImage Removed
On this page
|
Expand | ||
---|---|---|
| ||
This step is applicable if you selected the Include mini drivers… checkbox in the previous step. Otherwise, you can ignore it and proceed to the Retained Earnings mapping step. You can add four types of drivers. This part of the setup can be complex, so see Use mini drivers in the Balance Sheet budget for detailed information. Image AddedAfter you add the drivers, click Next. |
Expand | ||
---|---|---|
| ||
|
Expand | ||
---|---|---|
| ||
|
Proceed to explore your new Balance Sheet and Cash Flow budgets, which are displayed in separate worksheet tabs.
Expand | ||
---|---|---|
| ||
Please note that some elements in the video look different from how they currently look, due to design changes. However, the process is the same. Create a Balance Sheet budget.mp4 |