Configuring Financial Reports - Overview
Most of the reports printed in CU*BASE provide a chance for customization when the report is printed, primarily so that you can control what specific information prints on the report. With financial reports (income statements and balance sheets), however, you can also configure the order in which accounts appear as well as control the amount of detail.
For example, you could set up a trial balance income statement that lists all income and expense G/L accounts separately. Or, similar G/L accounts could be summarized under group headings to eliminate clutter and make the report easier to read.
CU*BASE financial reports are flexible and versatile because you have complete control over how they are presented. Some highlights:
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Configure up to 99 reports per company
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Define your own report headings
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Select account numbers in any order
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Summarize by sub-account, group of accounts, or report headings
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Combine any number of accounts into one total
Accounting is based on the measurement of the net debit and credit activity over a period of time. Depending on the type of financial statement, the time period is measured differently:
|
Report Type |
Description |
|
Balance Sheet |
A balance sheet is a statement of financial position based on only an end point—in other words, the total of all debit and credit activity since the credit union was established. |
|
Income Statement |
An income statement shows net debit and credit activity measured from one point in time to another point in time—for example, from January to June. Income and expense totals start from zero as of the beginning point. |
|
Combined Balance Sheet and Income Statement |
This type of report can be used for displaying all of the accounts which would normally appear on both the balance sheet and income statement, using a beginning and an ending date range. |
In addition, budget figures can be printed separately or on any financial report, using special buttons available when printing. No special instructions are necessary when configuring the report, however.
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