Financial Report Form Enhancement
Objective
The primary objective of this enhancement document intends to offer comprehensive data for the adaptability to incorporate or avoid profit and loss prior to closing for generating of the Financial Reports. This detailed explanation is intended to assist both consultants and end users in understanding the functionality of showcasing desired values of Profit & Loss before closing, enabling them to view report output before and after profit & loss closing to meet specific customer requirements and subsequently generate financial reports. is to provide the details so that the user can pull the financial report with or without considering the P&L closing. This document contains the details of the settings if any that need to be done while preparing the report that has the intervention of the P&L closing.
Enhancement Point
2.1 Profit & Loss before closing.
In the standard Financial Report Form of the VIENNA system, previously there was no provision to generate a financial report before closing the Profit & Loss when entries are posted through Profit & Loss Closing screen. .
Now, the user can show the values before the P&L closing. For achieving this, in the latest release VIENNA has introduced a new checkbox system introduces a new option on the Report Parameters parameter tab as called "P&L before closing" as shown in below screenshot:
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in the financial report. When the user selects this option on the report parameter tab, then the system displays a checkbox labelled as labeled "P&L before closing" during report generation.
While generating the financial report form, when if the user mark checks "P&L before closing checkbox as true," then the system retrieves values for the ledger before the Profit and Loss closing entry.
To enable this feature, the user needs users need to activate the User Element dimension as a parameter and . Additionally, they should bind the Profit dimension in the user element field on the accounting book element tab of the accounting book screen. This parameter provides flexibility for users with the users capability to generate the various financial reports primarily for comparison purposes.. Find below the print shot for clarity:
There are some examples shown below with screenshots and details that help the user to understand the "P&L before closing" in detail:
Example: 1 |
| Resulted Report Output | Actual Result (Amount) | Expected Result (Amount) |
Checkbox: P&L before closing | FALSE | Shipping Expenses | -2750 | -2750 |
Parameter [Profit Dimension] | Profit & Loss Dimension |
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While generating the financial report, when the user uncheck "P&L before closing" checkbox, and selects Profit & Loss dimension in Profit Dimension dropdown, the system considers only those posted entries for selected ledger of P&L Closing where that particular profit dimension is linked. As a result, when posted actual amount is 2750 without profit dimension, and posted reversed entry for P&L Closing is –2750 with profit dimension, then the system fetch reversed amount as –2750 in report output.
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Example: 2 |
| Resulted Report Output | Expected Result (Amount) | Actual Result (Amount) |
Checkbox: P&L before closing | FALSE | Shipping Expenses | 0 | 0 |
Parameter [Profit Dimension] | Null |
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While generating the financial report, when the user uncheck "P&L before closing" checkbox, and do not select Profit & Loss dimension in the Profit dimension dropdown, then the system considers those posted entries for selected ledger irrespective of profit dimension. As a result, when posted actual amount is with 2750 without profit dimension, and posted reversed entry for P&L Closing is –2750 with profit dimension, then the system nullify the amount as zero in report output.
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Example: 3 |
| Resulted Report Output | Expected Result (Amount) | Actual Result (Amount) |
Checkbox: P&L before closing | TRUE | Shipping Expenses | 2750 | 2750 |
Parameter [Profit Dimension] | Disable |
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While generating the financial report, when the user check "P&L before closing" checkbox, then profit dimension dropdown becomes read-only, then the system considers those only posted entries where profit dimension is not linked. As a result, when posted actual amount is 2750 without profit dimension, and posted reversed entry for P&L Closing is –2750 with profit dimension, then the system fetches actual amount as 2750 in report output.
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The user can configure the financial reports in the VA system with or without consideration of the P&L closing using this parameter. It is not always mandatory to use this parameter on all the financial reports, wherever it's required the user can enable this functionality.
2.2 EXAMPLES FOR UNDERSTANDING
EXAMPLE1:
The user selected the Profit & Loss Dimension while pulling the report.
In such cases the system will print the report values of P&L dimension only and rest of the details will not be considered by the system.
Ledger Account Details
Ledger Code | Ledger Name | Debit | Credit | User Element1 (P&L Closing) |
30001 | Shipping Expenses | 2750.00 | 0.00 |
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30001 | Shipping Expenses | 0.00 | 2750.00 | P&L Dimension |
Report Output will be as follows:
Ledger Code | Ledger Name | Value |
30001 | Shipping Expenses | (2750.00) |
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EXAMPLE2:
The user not selected the Profit & Loss Dimension while pulling the report.
In such cases the system will consider and print all the values in the report irrespective of dimensions.
Ledger Account Details
Ledger Code | Ledger Name | Debit | Credit | User Element1 (P&L Closing) |
30001 | Shipping Expenses | 2750.00 | 0.00 |
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30001 | Shipping Expenses | 0.00 | 2750.00 | P&L Dimension |
Report Output will be as follows:
Ledger Code | Ledger Name | Value |
30001 | Shipping Expenses | 0.00 |
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EXAMPLE3:
The user selects the 'P & L before Closing' checkbox.
In such cases the system will not consider the P&L Dimension and considers all other dimension while printing the values in the report.
Ledger Account Details
Ledger Code | Ledger Name | Debit | Credit | User Element1 (P&L Closing) |
30001 | Shipping Expenses | 2750.00 | 0.00 |
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30001 | Shipping Expenses | 0.00 | 2750.00 | P&L Dimension |
Report Output will be as follows:
Ledger Code | Ledger Name | Value |
30001 | Shipping Expenses | 2750.00 |
