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.
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 on the Report Parameters tab as "P & L before closing" as shown in below screenshot:
When the user selects this option on the report parameter tab, then the system displays a checkbox labelled as "P&L before closing" during report generation. While generating the financial report form, when the user mark "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 to activate the User Element dimension as a parameter and bind the Profit dimension in user element field on accounting book element tab of accounting book screen. This parameter provides flexibility for the users to generate the various financial reports primarily for comparison purposes.
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.
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 all the 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.
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.
