Title: FAQ-How to Create a Trial Balance where all Segments Display on a Single Line

Transcription

1 Document Type: INFORMATIONAL Title: FAQ-How to Create a Trial Balance where all Segments Display on a Single Line Question: The default report Accounting>Reports>Normal Trial Balance produces a report with all the segments in a tiered format listed under once column titled Account Code. I would like to see all segments displayed on a single row. How do I do that? Product: Product: MIP Fund Accounting Issue #: Solution: We do not have a formal report that produces a trial balance with a column for each segment; however, selecting one of the following three methods will allow you to create a custom report with all segments displayed on a single line. Method One: Create a Budget Worksheet with Actual Data Method Two: Export a Trial Balance Report to an Excel file using the Export Icon. Method Three: Create a report using the Posted General Ledger Transactions Report Method One: Create a Budget Worksheet with Actual Data Note: You must own the Budget Module to use this method. 1. Create a budget worksheet called Trial Balance. a. Activities>Budget Worksheet b. The worksheet name is Trial Balance. 2. Use a budget version that you are not using for your real budget. In this example, we are not using the Revision Budget to hold a budget so it is available to use.

2 3. Click Next. 4. The Budget Type will be budget dollars. 5. The Worksheet Type will be New Worksheet. Click Next. 6. Budget effective dates would be the year for which you are creating a trial balance, in this case Choose yearly.

3 7. Choose Actual on the Comparative data form. Change the year to the year you need for the TB. 8. Choose the segments you need for reporting purposes.

4 9. Choose all available accounts with ACT for the activity basis.

5 10. Skip the filter. 11. Choose Actual for the calculation method and Zero Budget for the Calculation Method. 12. Choose the begin date of the historical period to be the begin date for period you are creating the Trial Balance. Click Next.

6 13. Click Finish/Save. This will create a budget worksheet with 0 budget dollars with Actual data for the time period you need with the segments in columns. Print to the screen. 14. Export to Excel.

7 15. Open the Excel file. This method produces a report with each segment in its own column and it export the segment name as well. You may continue by formatting the report as you need. Method Two: Export a Trial Balance Report to an Excel file using the Export Icon. 1. Create a Trial Balance by selecting Reports>General Ledger Analysis>Normal Trial Balance. 2. Select the report title and enter the dates for which you want to run the report. If you change any data on the default report, you will need to enter a new report title.

8 3. Add additional segments for reporting on the Content Tab. 4. Export the report to an Excel file using the Export Icon. A window will open allowing you to select the location to save the file and to enter a file name. 1. Select the location to save the file. 2. Enter a file name. 3. Select Excel as the file type and save.

9 5. Open the Excel file. You will have a file with each segment in its own column. You will need to edit the column headings. You may now format the report as you wish. Method Three: Create a report using the Posted General Ledger Transactions Report Note: These instructions assume the most commonly used Chart of Accounts structure. That is first Assets then Liabilities and equity followed by Revenue and Expenditures. 1. Go to Reports>Transaction Reports>Posted General Ledger Transactions 2. Create a new report name and then go to the Content tab. 3. In the Report Body move over all your segments to the Selected Items section in the order you would like them displayed in the report. Also move the column Debit and Credit to the selected items. 4. Go to the Filter Tab. 5. Filter on GL code and set the Compares To section to Between. Set Criteria 1 to your first revenue code. Set Criteria 2 to your last expenditure code. 6. The next filter to set is Effective Date. Again set Compares To section to Between. Set Criteria one to the first day of your fiscal year that you are reporting on. Set Criteria 2 to be the end date that you would like the balances as of.

10 7. Go to the Options Tab and check the box to Summarize Amounts. This report is now ready to run and will display in the format needed. Next is to setup the report to run correctly for all your non revenue and expense reports. The only difference in the report setup will be the Criteria on the Filter tab. 1. On the Filter tab for your GL filter, change Criteria 1 to your first GL code and set Criteria 2 as the last GL code prior to your revenue accounts. 2. On the Effective Date filter change Criteria 1 to the first day of your organization. The reason the report needs to be run two separate times is that the Posted GL Trans report does not have fiscal year closes. Since R&E accounts reset each year it is appropriate to filter the effective date on the first day of the current fiscal year. Assets, Liabilities, and Equity however carry their balances year after year. Because of this the effective date filter must be changed to the start of the organization or before to make sure the full account balances are included and accurate numbers are displayed.