Minimum Version Required: 22.01
Pre-Conditions
Encompass Financials must be enabled.
Steps
How to Reorder Financial Statements
1. Using Universal Search, navigate to the Financial Sections table.
2. Using the Type column header, apply filtering to display a specific Type.
3. Click the Pencil icon to edit the Sequence field.
4. To edit all the fields at once, click the Sequence header.
a. Click "Edit Column".
5. Enter a value to change the order of appearance in a Financial Statement.
a. The lower the number, the higher it will appear in the statement.
Example: Revenue is set to 500, and each relevant Account Type should have a higher number. If Sale Income is set to 501, it will display under Revenue. If Deposit income is set to 502, it will display under Sales Revenue.
6. Click the Save icon when complete or Save Changes.
Fields And Definitions
Financial Sections table
This table is intended to direct components of financial statements into their appropriate statement type.
Type - There are three Types available in Financial Sections, and each one represents a different financial statement. The three types are Balance Sheet, Profit & Loss (Income Statement), and Cash Flow (Statement of Cash Flows).
Sequence - Sequence numbers are set for Types and Sections that share similar characteristics such as Assets or Liabilities. This enables users to organize financial statements in a way that allows fiscal authorities to verify the completeness of a company’s financial records.
Section - Represents the components that make up a financial statement
Sign - Represents how the balance of each Financial Section is calculated (Credit or Debit balance)
Auto Manage - Automatically classifies Account Types into their respective financial statement
Financial Sections Account Types table
This table is used to combine Financial Sections and Account Type records.
Section - Determines the Financial Sections that is connected to the referenced Account Type in the following field
Account Type - Determines the Account Type that is connected to the referenced Financial Section in the previous field
Code - Represents Account Code set on the Account Type record referenced
Child - A high-level component on a financial statement such as Net Income
Detail - A detailed component on a financial statement such as Net Operating Income or Other Net Income
Best Practices
Confirm or set the sequence on each financial section to reflect the order in which the user would like their financial statements to show.
Remember each sequence may represent a group of Account types. For example, Revenue may have a sequence of 500, and each account type under it such as sales income may have a sequence of 501, Deposit Income may be 502, and so on.