You can add Add a tab in your financial budget workbook to create Profit and Loss budget for your Balance Sheet budget tab and automatically derive your Cash Flow budget . You can then publish the Balance Sheet and Profit and Loss budgets as streams in the Financial Statements module.
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1 | Click the blue plus button next to the Main tab, enter a name for the Balance Sheet tab, select Balance Sheet, then click Add. | 2for 3-statement budgeting.
Create or open the financial budget workbook, then add the tab using one of these methods:
Set up the Balance Sheet and Cash Flow as follows:
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Select the Balance Sheet
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template Balance Sheet budget. The options available depend on the types of Balance Sheet statements . If your organization only uses one Balance Sheet template, it will be applied by default3 | Set the Balance Sheet budget hierarchy levels
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, as required: Add levels: Click the blue plus button , then select the dimension you want to add at that levelThis setting determines how the dimensions are grouped in your Balance Sheet budget. Reorder the levels: Click and hold the level's Move button (a blue box displays around the row), then drag the level up or down to its new position.
cannot this other dimensions as lower levels. The dimensions that are available in the list depend on how you set up the Profit and Loss budget.4 | (Optional) Select the Cash Flow template. | This setting creates a Cash Flow budget on a separate tab in the workbook. The values in the Cash Flow budget are automatically derived from the values in the Profit and Loss and Balance Sheet budgets. The budget hierarchy levels are inherited from the Balance Sheet budget but if available, you can add custom levels which will help you to group your Cash Flow statement. |
5 | levels here if there are no other levels in the P&L budget setup. Where levels are available, you can have fewer levels in your Balance Sheet than are in your P&L. For example, you might want to do your Balance Sheet and Cash Flow budgets at the company level but include your company and branch in your P&L. To add a level, click Add level, then select the dimension you want to add at that level. The dimensions that are available in the list correspond to the levels in the P&L budget setup. If you add multiple levels, you can reorder those levels to determine how the dimensions are grouped in your Balance Sheet budget. Click and hold the level's Move button (a blue box displays around the row), then drag the level up or down to its new position.
Select the opening balance stream.
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This is the stream from which your Balance Sheet values come
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from. In most cases, this is the Balance Sheet stream
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.6but you might have other options to choose from. (Optional) Change the opening balance start date (previous period end date).
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the period end main Profit and Loss November 2022 to October 2023 period end prior to October 2022 tracked7(Optional) Change the measure.
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By default, the measure is selected for you, as it is linked to the stream you selected in step 5. The measure is typically the same as the measure used in the
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main Profit and Loss budget.8 | Review the Retained Earnings account code and change it, if required. | By default, the Retained Earnings General Ledger account code is selected for you, as it is linked to the Balance Sheet template you selected in step 2. This setting determines the account code P&L budget. Set the measure format (prefix, decimal, and suffix) to determine how the measures (numerical values) display in the grid. (Optional) Select the Include tab checkbox to include a Cash Flow tab in this tab creation process, then select the Cash Flow statement and set the levels. The Cash Flow budget will display on a separate tab in the workbook. The values in the Cash Flow budget are automatically derived from the values in the P&L and Balance Sheet budgets. The budget hierarchy levels are inherited from the Balance Sheet budget but if available, you can add custom levels that will help you to group your Cash Flow statement. Image Added
(Optional) Select the Include mini drivers… checkbox to add drivers to the Balance Sheet. For more information about this feature, see Use mini drivers in the Balance Sheet budget. Click Next.
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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. |
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title | Retained Earnings mapping |
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Map the entities in the selected dimension to the Retained Earnings account(s).
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Profit and Loss .9. Retained Earnings represent the equity of the business (what the business is worth). If you have no levels in the budget, such as in the case of a consolidated Balance Sheet budget, you will only have one Retained Earnings account to map. Otherwise, you might have multiple accounts to map. Depending on your account structure, you can use the same Retained Earnings account for several entities or use different accounts as required. If you have a lot of entities, you can filter the list of entities and/or select the Not mapped option from the All dropdown list on the top right to help you complete the mapping. Image AddedTo map one entity, click the yellow box on the right and select the account from the list that displays. To map multiple entities to one account, select the checkboxes of those entities or click the Select all button in the top left corner of the grid, then select the account from the list that displays. Image Added
Click Next.
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title | Cash account mapping |
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Map the
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cash accounts to the entities in the selected dimension to the Cash account(s). This setting determines the General Ledger account code(s) in the Balance Sheet budget that captures all the changes to cash. Depending on your account structure, you can use the same General Ledger
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bank codes consolidate one 11 | Click Create Balance Sheet. | 12 | 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 Removed