Financial Statements release notes

Find out what's new and changed in each version of Financial Statements. This page lists all the releases in the last year, with the most recent release items at the top.


July 18, 2024 (Version 24.6.5)

Users with permission to manage custom statements can now undo and redo actions when managing groups.

July 2, 2024 (Version 24.6.5)

  • All users can now add up to four levels in a financial statement. Previously, this was limited to three. We also enhanced the behavior of the Levels box to make it easier to drag dimensions into and out of the box and drag dimensions from the Levels box across into the Column groups (matrix) box.

    4 levels.mp4
  • Users with permission to manage custom statements can now import group data. In the last release, we introduced the ability to export group data. These features work together to allow you to create and edit your group and entity data quickly.

    Export and Import.mp4

June 26, 2024 (Version 24.6.4)

  • All users can now:

    • Add levels and column groups (matrix) to the Trial Balance statement. These features were previously unavailable in this type of statement.

    • Display the variance value on the Value card. Previously, you could display a variance percentage, but the value-only option lets you focus on the amount required to achieve a target or stay within budget.

  • Users with permission to manage custom statements can now:

    • Clone a group to reuse the data and create new child dimensions.

    • Export the group data for easy validation with other sources.

  • All users in organizations that have the multiple currency setting enabled can now view the foreign currency translation adjustment in the Cash Flow statement.


June 11, 2024 (Version 24.5.9.1)

  • Users with permission to manage custom statements (and budgets and forecasts) can now create a budget from within Financial Statements. All the budget settings are automatically selected with just one click, so you can see the budget straight away in the Budgets & Forecasts module and modify the setup as required.

  • All users will now see a change in the default behavior of the Lower is a better option for rows. This feature was introduced to some customers on January 22, 2024 (version 24.1.1) and has been well received. It inverses the variance calculation when the Lower is better option is selected in the statement setup. For example, a decrease in the cost of sales compared to the previous year now shows as a positive variance.

  • All users will benefit from the updated font that makes the data easier to read.


May 21, 2024 (Version 24.5.3)

All users can now easily see which accounts make up the cash balances on the Cash Flow statement. Expand the Cash at start of period row to view the accounts.


May 7, 2024 (Version 24.4.9)

All users can now:


April 24, 2024 (Version 24.4.4)

Users who have permission to manage custom statements can now manage dimension groups from within the Financial Statements module. Previously, this could only be done by an administrator in the Designer module. See Manage dimension groups to learn how adding dimension groups can enhance the analysis capabilities in your financial statements.

Other small changes:

  • As part of the project to tidy up the chart configuration options, we made additional alignment improvements.

  • The Visible setting in the Measures Formatting window, which allows you to hide a measure from the Measures menu, now works as expected.

  • In the new export feature:

    • We fixed an issue regarding the expand and collapse state of rows. In some cases, the output did not match what was on the screen.

    • We added support for special values, such as BAL, to the Cash Flow statement exports.

Coming soon: Ability to create a budget workbook from within the Financial Statements module.


April 9, 2024 (Version 24.3.7)

  • We’re halfway through a project to tidy up the chart configuration options. This release includes some alignment improvements, and the Pie chart no longer displays incompatible configuration options, such as the ability to view stacked bars. This work will be completed in the next release.

  • We continue to work on new features coming soon: Retained Earnings mapping, dimension groups, and more.


March 12, 2024 (Version 24.2.5)


February 7, 2024 (Version 24.1.3)

  • We fixed an issue whereby the account code details did not display in the account restrictions grid. Users who have permission to manage custom statements will now see these details as expected, making it easier to restrict access to accounts.

  • We are busy working on new features coming soon: Retained Earnings mapping, dimension groups, and spacing improvements.


January 22, 2024 (version 24.1.1)

  • Pie and donut charts are now available.

  • A change to the default behavior of the Lower is better option for row in the statement setup is now available on request. This feature will be available to everyone in the future. When enabled, this feature inverses the variance calculation when the Lower is better option is selected. For example, a decrease in the cost of sales compared to the previous year now shows as a positive variance.


January 8, 2024 (version 23.12.2)

We are busy working on two new features coming soon:

  • Pie charts!

  • A change to the default behavior of the Lower is better option for rows.


December 6, 2023 (version 23.11.2)

  • We changed the default style of the percentage variance columns in the grid. Previously, by default, the percentage variances displayed in red or green color, to highlight where there was a negative or positive difference in values. As some users prefer to see these variances in black (monochrome) color instead, all variances are now displayed in black by default. The new Red/green % variances option in the Style menu allows individual users to turn the red/green color code back on, another way to customize their view of a statement.

  • We fixed two issues in the upload Balance Sheet Exchange Rates process:

    • The header row is now optional. If you use a header row, you can use whatever header text you want. Check latter is true.

    • When an error occurs during the upload process, a message now displays with details about the error that you can use to fix the exchange rates source file.


November 20, 2023 (version 23.11.1)

Enhanced features

  • Statistical streams - Users who have permission to manage custom statements can now add a calculation that uses a Balance Brought Forward statistical stream using the STAT function. For example, you might want to use this calculation to track the number of beds available against items in your Profit and Loss statement. When setting up a new stream within a Financial Statements database, you can select these options: Balance Brought Forward, Statistical and Variance Stream. Previously, the Balance Brought Forward stream type wasn't available in calculations within Financial Statements.

  • Exports - We tweaked the design of the Export window to promote the new style export option (we also removed the Beta flag). Have you tried the new Excel export functionality yet?

Coming soon

We are working on new formatting options in the Styles menu.


November 7, 2023 (version 23.10.2)

Enhanced feature - Multiple measures in custom columns

Users who have permission to manage custom statements can now use multiple measures in their custom column layouts. This option allows you to insert additional columns to enable the analysis of multiple measures from the same data stream within one financial statement.

Resolved issues and small changes

  • All users can now hide the left panel (with the dimensions, focus and reset buttons) to get a better view of the financial statement and see more columns without having to scroll across. This is particularly useful if you have a small screen.

  • We implemented a scroll bar in the budgets list in Manage Budgets window, so it is easier to see budgets with longer names. This change applies to users who have permission to manage custom statements.


October 23, 2023 (version 23.10.1)

Enhanced feature - Exchange rates sync

If you use the Multiple Currencies (Beta feature), you can now connect to sync items in your Phocas site. This enhancement allows you to select exchange rate data from a sync source and quickly replace existing sync files with new exchange rate data, rather than having to edit the Exchange Rate setup each time.

Resolved issues and small changes

  • When you view charts in full-screen mode, the Exit full screen button now works as expected. Also, the chart configuration tabs now have more defined borders.

  • We fixed an issue whereby the status bar below the grid did not display the correct average and count information for the selected rows.

Coming soon

We are busy working on the ability to add multiple measures to custom layouts.


October 9, 2023 (version 23.9.2)

Enhanced feature - Value card chart type (dashboard widget)

We retired the right-click > Visualize feature that was previously used to add value cards to a dashboard. The Value card type of chart is now available in the Charts panel and you can add it to a dashboard from there. This change allows you to create all types of Financial Statements charts in one place.

Resolved issues and small changes

  • Chart enhancements - In addition to the big change mentioned above, we made two small changes to charts:

    • The chart pane now opens by default on the Data tab rather than Text tab.

    • We updated the chart color shades to improve contrast and overall legibility and accessibility.

    • On dashboards, the look and behavior of the Financial Statement chart widgets are now more consistent with that of the Analytics charts. Also, when you edit a financial chart, the Chart pane opens within Financial Statements. Previously, an editing window opened.

  • New Excel export improvements - When we released the New Excel export functionality, we asked for your feedback on the export features you'd like us to develop. The most popular request was to display the exported statement as it is seen on the screen. We have implemented this functionality, so for example, if some levels are expanded but others are collapsed, when you export the statement, it’ll look just the same in Excel.

  • Visual enhancements:

    • We increased the padding slightly on the right-hand side of the screen, so that when you have a longer statement and the scrollbar appears, the bar no longer displays over the grid and all data is clearly visible.

    • We removed the unnecessary gaps that display between columns in the grid when the Columns menu has the following configuration: none of the streams (Budget, Previous, Prior Previous) are selected and the Periods > All option is selected.


September 2023 - New side menu in Phocas

September 20, 2023 (version 23.9.1) New Version numbering

Re-released - ability to expand levels on all rows

Expand calculation rows to easily view the contribution of different items to each element in the statement, or leave them collapsed depending on the view you want. For example, you might want to view a quick breakdown of the Gross Profit by Country. See https://helpphocassoftware.atlassian.net/wiki/spaces/userdoc/pages/413434393.

This improves a version that we released in July, and rolled back shortly afterward following customer feedback. We have tweaked the design, so you can now control whether the calculation rows are expandable or not via a new button next to the Levels box. This button is a switch, so you quickly can turn the feature on and off as required.


September 6, 2023 (version 8.1.32)

New and enhanced features

We made some substantial performance improvements to make the query loading process faster and give you a better user experience. These improvements are most noticeable in statements that have lots of level calculations or dimensions with over 1,000 entities.

Resolved issues and small changes

  • Design changes:

    • In the Financial Year setup window that is available for users who have permission to manage custom statements, the information is more concise and the setup is more intuitive.

    • In the Column groups window that is available to all users, the new Column headers setting for Name and Code replaces the original Display checkboxes.

  • We changed the functionality of the browser’s Back button. Now when you move away from a statement, for example, when you view transactions, then click the Back button to return to the statement, your statement view persists. Previously the statement was reset to the default view.

  • We fixed an issue that occurred when a statement with multiple-level calculations was exported using the new Export option. If any of the calculation rows used division or one of the function keywords, such as Days in Period, the data in the exported file was incorrect. The data now exports as expected.


August 21, 2023 (version 8.1.31)

Enhanced feature - Properties column

The Properties column is now resizable. This is handy in the case where a lot of properties display in the grid and you have to scroll across to view the data values. You can now make the column narrower, so you can get a better view of the data in the grid.

Resolved issues and small changes

  • We fixed issues that were occurring with calculated rows that were based on the [stat] and [avg] functions. Previously, when you added an unmapped dimension as a level in the statement, the total in those rows zeroed out, and when you added a partially mapped stream, the totals changed. We also improved the performance of these functions, so the values load faster in the statement.

  • If you have permission to customize columns, you could previously add a custom Variance column and opt to hide that column from the statement. If you did so, an error message displayed when users tried to view the statement. You no longer have the ability to hide a Variance column, so the error no longer happens. Any hidden Variance columns that were previously saved to layouts are automatically converted to visible columns, to ensure the statements load without an error.

  • We fixed an issue that was occurring with subscriptions to matrix format queries (Column groups feature). When such subscriptions were opened and exported to Excel, the grouped column headings were missing from the exported data, making the data difficult to interpret. The data now exports as expected; all group headings are included.

  • We fixed an issue in Trial Balance statements where sometimes the Total row did not display. This issue occurred when you started in a Profit and Loss statement and removed the Totals column, then returned to the Trial Balance statement. The Trial Balance always has a Total row, regardless of the column configuration.


August 7, 2023 (version 8.1.30)

New and enhanced features

  • Access to Statements window - Users who have permission to manage custom statements can now access the Statements window via the new Customize Statements link in the Statements menu. The original access point in the Actions menu is still available.

  • Current Year Earnings - All users now have the option to hide the current year earnings from the Trial Balance statement. Click the Rows menu* and clear the Current Year Earnings checkbox to hide the row. Your selection persists in favorites and dashboards.

  • *Activity menu now called Rows menu - In the Trial Balance statement, we changed the name of the Activity menu, as it is no longer just for filtering the rows by activity. Since the addition of the Current Year Earnings checkbox, it is called the Rows menu.

Resolved issues and small changes

  • We enhanced the BAL functionality so it now works with multi-currencies and on all levels, including those containing financial ratios.

  • We resolved several issues.

Coming soon

Ability to resize the Properties column.


July 26, 2023

Following customer feedback, we removed the feature we released on 17 July, whereby calculation rows were included when you expanded levels in a statement. The feature was enabled by default for all users. We will reintroduce the feature in a future release, with user control over whether you include the additional levels on your calculation rows.


July 17, 2023 (version 8.1.29)

New and enhanced features

  • ROLLED BACK - 26 jULY Ability to expand levels on all rows - When you add levels to a financial statement, you can now expand all the rows in a statement, including calculated rows, to easily view the contribution of different items to each element in the statement. For example, you might want to view a quick breakdown of the Gross Profit by Country. Previously, when you added a dimension as a level in a financial statement, you could only expand the category (group) rows to view the contribution of different items to the respective group totals.

  • Sparklines now in favorites and dashboards - If your custom view of a financial statement contains sparklines, you can now save that view as a favorite and add it to a dashboard.

  • New Excel export functionality - Financial statements are often exported to Excel for further analysis and sharing results with others. We have a new version (Beta) of the Excel export functionality, which presents your information in a more similar way to how you see it on the screen. The new functionality also allows us to develop and implement changes more quickly. Start the export process in the usual way, then click the blue link to try out the new version. We look forward to hearing your feedback.

Resolved issues and small changes

We resolved several issues.


June 19, 2023 (version 8.1.28)

New and enhanced features

  • All statements now handle multiple currencies (Beta feature) - Does your business operate in multiple countries? Are you grappling with exchange rates? We are delighted to say that we solved the complexity that multiple currencies bring to the Balance Sheet and the Trial Balance. The enhanced multi-currency feature is now available for Beta customers. We look forward to releasing this feature for all customers in the near future. If you are interested in participating in the Beta program, contact your Phocas account manager.

  • Trial Balance now displays the current year earnings - In the last release, we added a new row to the Balance Sheet statements that displays your current year earnings. In this release we extend that functionality to the Trial Balance, so you can easily see your Profit and Loss net results at a glance. In the Trial Balance, the Current Year Earnings row always displays at the bottom of the grid. This row does not contribute to the total row. The row name is in bold formatting and the formula icon displays next to it. When you hover over the icon, a tooltip displays the formula used to calculate the values: sum(Profit and Loss).

  • %revenue and %contribution now available for custom layouts - Following several requests, we’re delighted to introduce the option to add the %revenue and %contribution analysis columns to custom column layouts.

  • Option to hide column code or name in matrix format - We added two options to the Column groups feature that allow you to determine whether the code and/or name of the selected dimensions display in the grid. By default, the code and first property are displayed in the column header but you can remove one of these if they are surplus to requirements. This is particularly useful when the code or name is long and wraps into a new line.

  • Sparkline enhancements - We made two enhancements to the sparkline feature we release last month. When you hover over a display sparklines, the tooltip now displays both the variance and variance percentage. We updated the sparkline design to display a dotted line when there are NaN (not a number) values. These values are common on calculated rows where division is used. You can still hover over these points in the sparkline; the NaN message displays. If all the values are NaN, no sparkline displays.

Resolved issues and small changes

We resolved several issues.


May 22, 2023 (version 8.1.27)

New and enhanced features

  • Sparklines - You can now add sparklines to the in Profit and Loss statements grid. These mini charts display next to each of the values in the total columns. Integrating sparklines into the grid provides a visual representation of your financial information, so you can quickly see trends and spot anomalies. You can hover over the data points in the sparklines to see the corresponding value and date. When you display your financial statements on a dashboard, the use of sparklines allows for more engaging interaction with the information and helps you to deliver insights more quickly.

  • [BAL] function enhancements - It is now quicker and easier to display multiple balance sheet movements for a given period in the Profit and Loss statement.

    • We implemented a new parameter for the [BAL] function; the Movement keyword displays the difference between the Balance Sheet group value at the start of the period and the value at the end of the period. For example, if January 2023 = 50 and March 2023 = 150, the movement is 100.

    • We also improved the interface associated with the [BAL] function, to make it easier for you to select the type of balance (parameter) you want to use. Previously, when you wanted to use the [BAL] function, the Average balance was inserted by default and you could display the Closing balance instead, but you had to type that keyword in manually. Now you can select from a list of options and the function is automatically completed for you.

  • Period information in column headers - The period information now always displays as a secondary header for the columns in your financial statements, regardless of whether the period is different to the main financial statement period or not. Previously, the main financial statement period displayed at the top of the grid and the period would only display under a column header if the subtotal period was different to the financial statement period. This information also displays in exports, snapshots and widgets, so there can be no doubt about the period associated with the values.

Resolved issues and small changes

We resolved several issues.


April 17, 2023 (version 8.1.26)

Enhanced feature - exports

In the last release (8.1.25), we made enhancements to the export feature, to give you more control over the contents and layout of your PDF and XLSX exports. In this release, we added another such enhancement; you can now determine the position of the row group totals in the exported documents. These rows can be positioned either above or below their respective child rows, to meet your reporting requirements.

Resolved issues and small changes

We resolved several issues.


March 20, 2023 (version 8.1.25)

New and enhanced features

  • Comments - You can now add comments to a wide range of values in the Profit and Loss statement. This feature makes it easier to collaborate with team members, as you can ask and answer questions and add links to information in websites and online documents. In most cases, the comment moves with the value as you change your view of the statement, such as add levels or switch to matrix format. We plan on extending this feature to other statements in the future. Let us know what you think - click the Give Feedback link in the top bar of Financial Statements.

  • Ability to remove totals - You can now remove the Total columns when you include all periods in a statement or view a statement in matrix format. This option allows you to free up space in the statement and reduce the need to scroll across to view information. For example, if you are comparing financial information for your regions and do not need to view the overall results, you can remove the Total columns from view. You remove the Total columns (and reinstate them) via the Columns menu. While this functionality is useful it its own right, it will become particularly useful as part of our upcoming multi-currency feature.

  • Export enhancements - We made two enhancements to the export feature, to give you more control over the contents and layout of your PDF and XLSX exports:

    • You now have the option to exclude account codes. As these codes are used for internal reference purposes, they are often surplus to requirements in exported documents. Removing theses codes will make your exports more “report like”, particularly in PDF exports.

    • In PDF exports, you can now export rows exactly how you see them in your current view of the statement. Any rows that are expanded/collapsed in the statement are also expanded/collapsed in the exported document. This new option allows you to display a combination of summary (top-level group) information and detailed account information.

Resolved issues and small changes

We resolved several issues.


February 20, 2023 (version 8.1.24)

New and enhanced features

  • Column groups - The new Column groups feature provides an easier way to pivot the data in the statement grid, to view statements for different countries, branches, departments and so on, side-by-side in a matrix format.

    • Previously, you had to take several steps to filter the Financial Statements grid and get a matrix view of the information. This process took you to the Analytics grid before returning to the Financial Statements grid. While the original method is still available and advantageous (access to the range of Analytics tools for diving deeper into the data), the new method is designed to quickly transform your financial information into a matrix format, without having to leave the Financial Statements module.

    • The new method involves the use of the new Column groups box above the statement grid. It gives you a quicker way to make comparisons and identify differences in your financial statements. It also works seamlessly alongside the new visualization tool (released in December) - as you select different dimensions and/or entities, the chart updates accordingly.

  • Levels enhancement - With the introduction of the new Column groups feature (above), we took the opportunity to enhance the look and functionality of the existing Levels feature. You can still drag levels into the box but you can now also add levels via the new plus button.

  • Style menu - You can now change the look of your financial statements, from a style perspective. The new Style menu allows you to more easily identify key data in the statement and better align the appearance of your statements with your with internal reporting style. The custom style you apply to one statement applies to the other statements too, and it also applies to exported statements. Your custom style is saved, so the next time you log in to Financial Statements, it is automatically applied for you. This is the first version of the style feature. We plan to extend the options in the Style menu and introduce some themes in future releases.

  • Charts enhancements - We continue to enhance the new visualization tool we released in December. In this release, we introduce three new ways to display multiple items (selected rows) in a chart:

    • Stacked bars - Whereas the default behavior is to display the total of the selected items, the Stacked bars option displays the data for the individual items stacked on top of each other, in one bar. When you hover over a section of the stacked bar, that item is highlighted and its data displays in a tooltip. This option is useful when you want to compare the relative contribution of items, such as accounts or counties, over time.

    • Stacked charts - The Stacked charts option displays the data for the selected items in separate ‘charts' within the one chart. The charts are synchronized, so when you hover your mouse over an element in one chart, the same element in the other charts is also highlighted. This option is useful when you want to compare items that that have a dependency. For example, if you want to compare the performance of the Revenue, Cost of Sales and Gross Profit accounts across the financial year. Stacked charts look great in full screen mode when you are making presentations and they work really well with the new matrix functionality described above.

    • Separate items - The Separate items option shows separate bars for each of the selected items, grouped by period. When you hover over a bar, that item is highlighted and its data displays in a tooltip.

  • Balance Sheet columns - We extended the Customize Columns feature to Balance Sheet statements. Previously, it was only available in Profit and Loss statements. If you have permission to customize statements, you can now design your own version of a Balance Sheet by defining the columns that it contains, giving you much greater flexibility in the layout and the analysis capabilities. You can save your column configurations in the form of layouts, then when you switch to a different version of the Balance Sheet, you can apply the saved layout. So you can mix and match your column layouts to have lots of versions of your Balance Sheet.

  • Changes to row selection functionality - In the previous release, we introduced a menu that displayed when you selected the checkbox in the top left corner of the grid. This menu had options for selecting all or none of the rows and options for setting your preferred row selection behavior. Following user feedback, we made the following changes to align the row selection functionality with that of the Analytics grid:

    • We removed the menu. You can now use the checkbox to instantly select all rows, or deselect all selected rows.

    • We made it easier for you to identify that you selected rows in a group. When you collapse a group that contains selected rows, the breadcrumb icon displays on the checkbox of that group row to indicate that the group has some selected rows. This indicator is particularly useful if you are editing a dashboard widget in which multiple rows are selected. Previously, when you first entered edit mode, it was difficult to determine which rows had been selected. With the new breadcrumb indicator, you are guided to where the selected rows are.

    • By default, row selection is cumulative. You will be familiar with this behavior if you use the Analytics grid. To override this behavior (select only one row at a time), press and hold down the Ctrl key while you make your selection.

Resolved issues and small changes

We resolved several issues.


January 16, 2023 (version 8.1.23)

New and enhanced features

  • Calculation tooltips - We’ve introduced a simple feature to help you better understand how a calculation row has been produced. Any row that contains a formula now has a new icon - you can hover to reveal the formula that makes up the calculation.

  • Row selections - You can now easily change row selections on the fly, to suit the different ways in which you prefer to analyze your financial data. This flexible selection method works particularly well with our new slide-out visualization tool, released in December.

Resolved issues and small changes

We resolved several issues.


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