Add a financial statement

Create financial statements for different audiences by duplicating an existing statement or adding one from scratch.

User permission: Manage Custom Statements

You can add more Profit and Loss, Balance Sheet, and Cash Flow statements to the database to have different versions for different audiences. To do so, you can either duplicate an existing statement, use a template, or create a new statement from scratch.

For example, you might want to provide Profit and Loss statements with different levels of detail to satisfy the needs of different audiences. Compare the information required by three audiences in the table below.

Board	Management	Branch
Sales Cost of Goods Sold Gross Profit Operating Expenses Earnings Before Interest and Tax Interest Net Profit Before Tax	Sales Cost of Goods Sold Gross Profit Sales & Marketing Research & Development General & Administration Total Operating Expenses Net Profit Before Tax	Sales Direct Labor Direct Materials Total Direct costs Gross Profit Salaries & Wages Marketing Rent & Operating Expenses Insurance General & Other Total Operating Expenses Net Profit before Tax

Duplicate a statement

Duplicating an existing statement is the simplest and quickest way to add a new statement, as you base the new statement on one that is already in your database, taking advantage of existing mappings and so on. You can then edit the new statement as required.

1. In the statement list, click the statement’s options menu.

2. Click Duplicate.

3. Enter a name for the new statement.

4. Click Duplicate.

5. Proceed to edit the statement.

Use a template (coming soon)

This functionality is still in development.

Add a new statement from scratch

1. At the bottom of the statement list, click Add statement.

2. Enter a name for the new statement.

3. Choose how to map the accounts in the statement. Account mapping is managed by the statement dimension. You can:

   • Use an existing dimension (recommended): Reuse the account mapping from another statement.

     • This method saves time now and reduces administration burden later. However, once selected, you can't change this dimension or its mappings.

     • The account mapping of these dimensions is managed elsewhere, either via the Groups feature or in Designer, and often driven by the Chart of Accounts mapping in your ERP.

   • Create a custom dimension: Create a new custom dimension and map the accounts yourself.

Not sure what to do? Read the Overview of dimensions to help you select which dimension to use.

1. Click Add.

2. Proceed to edit the statement.