Using the New Budgeted Financial Statement: Fall Release 2006

Transcription

1 Using the New Budgeted Financial Statement: Fall Release 2006 Introduction The Budgeted Financial Statement is one of the more frequently used reports in the financial analyst s toolkit. Shelby designed this report to provide a side-by-side comparison of an organization s proposed budget for each account and the actual activity for each account. Initially, this report included a fixed set of selectable columns that the user could choose to include on the report. These options included budget and actual figures for various time frames, calculations of these columns, and comparison columns of last year s figures to the present year. Shelby has enhanced this report further in the Shelby v5 fall 2006 release to allow bookkeepers to compare figures to any number of previous years and to create their own formulas for the creation of new columns. Users can also supply custom column names for built-in and userdefined column descriptions. Additionally, the new version of this report includes six new standard reports that satisfy most of your needs. You will find that many features of the previous versions are the same as the enhanced version. Although you may have used the Budgeted Financial Statement before, this document provides a complete overview of both old and new content.

2 1 Running the Budgeted Financial Statement Overview To run the report, you will first open Shelby v5, locate the report, choose desired report parameters, choose a report format and formatting options, and finally execute the report by clicking the OK button. You may also choose to create your own, customized report format instead of using a built-in Shelby report format. Once you have the report preview on the screen, you may choose to print the report, or save the report as a file. Alternatively, you can choose to export the report to a Microsoft Excel spreadsheet, allowing you to see more information on a page or to perform advanced calculations. Navigating to the Budgeted Financial Statement 1) Start Shelby v5. 2) Locate and click on the General Ledger link. This will start the General Ledger module. 3) Click the Reports link on the General Ledger Home Base screen. 4) Mouse-over Monthly Reports in the context menu. 5) Click on the Budgeted Financial Statement menu option to launch the Budgeted Financial Statement report options screen.

3 2 Report Parameters Report parameters allow you to pick which accounts and for what period of activity should appear on the Budgeted Financial Statement. An option to view percentage adjustments to variable accounts is also available. Choosing which Accounts to Print If desired, you can limit which funds, departments, and accounts to include in the Budgeted Financial Statement. 1) Start by selecting which funds and departments to include in the report. To do this: a) Click the Include/Exclude button near the top of the Parameters tab. b) Select which fund/department combinations you want to show on the report by placing checkmarks next to each desired option. You can use the Select All and Deselect All buttons to quickly check or uncheck all options.

4 c) Alternatively, you can select the Exclude radio button to omit all selected options. d) If you have many funds and departments, you may find that filtering out certain options helpful by using the View All, View Selected, View Unselected, and Filter controls at the top of the Funds and Departments Selection window. To use the Filter field, simply type the first few letters of either the fund or the department description. e) Click the OK button to return to the Budgeted Financial Statement report options screen. 2) After selecting funds and departments, choose which accounts to include in the Budgeted Financial Statement. To do this: a) Click the Include/Exclude button in the Account Filters button group. b) Select which accounts you want to show on the report by placing checkmarks next to each desired option. You can use the Select All and Deselect All buttons to quickly check or uncheck all options. c) Alternatively, you can select the Exclude radio button to omit all selected options. d) If you have many accounts, you may find that filtering out certain options helpful by using the View All, View Selected, View Unselected, and Filter controls at the top of the Accounts Selection window. To use the Filter field, simply type the first few letters of the account description. e) Click the OK button to return to the Budgeted Financial Statement report options screen. 3) If you wish to run the report to include only a small range of accounts, enter a range low and a range high account number in the Beginning and Ending Acct# fields. Otherwise, leaving these fields blank includes all accounts. 4) You can limit the scope of the Budgeted Financial Statement to just Fixed Budget Accounts or Variable Budget Accounts by selecting the appropriate radio button on the left side of the Account Filters radio button group. Leave the All Income & Expense radio button selected to show all account types.

5 Choosing Projects to Print You can run the Budgeted Financial Statement to reflect activity for a particular group of projects. To do this: 1) Select the Print by Project checkbox on the middle-right side of the Print Parameters tab. 2) Click the Project Specific button on the middle-right side of the Print Parameters tab. 3) Choose which projects to include by: a) Select which accounts you want to show on the report by placing checkmarks next to each desired option. You can use the Select All and Deselect All buttons to quickly check or uncheck all options. b) Alternatively, you can select the Exclude radio button to omit all selected options. c) If you have many accounts, you may find that filtering out certain options helpful by using the View All, View Selected, View Unselected, and Filter controls at the top of the Accounts Selection window. To use the Filter field, simply type the first few letters of the account description. d) Click the OK button to return to the Budgeted Financial Statement report options screen.

6 Choosing a Report Time Frame The next step is to decide if you want to run the report for a specific period or for the first, second, third, or fourth quarter. To do this, select the Print for Period or Print for Quarter radio button, and then use the pull-down menu below the radio buttons to select which period or quarter to include in the report. Choosing Department Print Options The report has two department-based printing options, useful for times when you need to distribute the report to department managers. 1) To start a new page for each department, select the Page Break After Each Department checkbox. 2) Selecting the Include Opening and Ending Balance for Each Department includes the opening and ending balance of each department on the report. If this option is selected, and the Page Break after Each Department checkbox is selected, the opening balance will appear under the report title at the top of each page. If this option is selected, but the Page Break after Each Department checkbox is deselected, the department opening balance will print as a line item in the report. In both cases, the ending balance appears as an account line at the end of the department detail. Including Encumbrances Encumbrances are future planned purchases based on the balance of outstanding purchase orders. Selecting the Include Encumbrances checkbox will include these figures on the report. For example, if your company has $100,000 dollars in activity for the current period, and has $50,000 dollars currently pending on purchase orders for the period, the Actual for Period column would show $150,000 dollars if this option was selected and $100,000 if the option was not selected. Choosing a Summary or Detail Type Report By default, the Budgeted Financial Statement will display all activity for all accounts. However, you may use the Report Type pull-down arrow to view a report with only totals for each department, or to view a report with balance summaries based on the leading digit of each account. For example, if you are using a five-digit account notation, and all cash asset accounts in your chart of accounts start with a 12xxx prefix, selecting the Sub Account Summary 2-digit report would group all cash accounts into one account line, named using the most previous

7 Header line. The leading digit reports may not work for you as intended based on your account structure (based on how you use headers). Previewing Changes for Variable Budgets You can use the Budgeted Financial Statement to print a report with that has adjusted amounts for variable budgets. This will save you the trouble of first adjusting each account and then rerunning the report. To print the Budgeted Financial Statement with adjusted variable budgets, enter a percentage in the % Adjustment for Variable Budget Accounts Only field. Note: 100% represents no percentage change. For example, if you wanted to print a report with variable budgets at +10%, you would enter 110 in the % Adjustment for Variable Budget Accounts Only field. If you wanted to print a report with variable budgets at -10%, you would enter 90 in the % Adjustment for Variable Budget Accounts Only field.

8 3 Report Format Options Report format options appear on the Preferences tab. This tab allows you to choose how each account line appears on the Budgeted Financial Statement and allows you to choose a report format. Each report format has different types of columns. You can see a list of columns that are currently selected in the Format Columns list box at the bottom of the window. Several commonly used report formats are built-in to the Budgeted Financial Statement report, however you can choose to design your own report formats. Selecting Account Line Formatting Options Print Line Description on Second Line Selecting this option prints account numbers on the first line and prints the account description indented on a second line. Leaving this option deselected prints the account number and account description together on the first line. Wrap Columnar Account Description Selecting this option prints the account description on the first line with the account number, but will shift the description to the second line if more room is needed to print the whole description. If this option is left deselected, the account description will truncate instead. Print % Year Completed in Heading Selecting this option prints how far, expressed by percentage, the year progressed (e.g. 8.33% for January, 16.67% for February, etc.). Double Space Selecting this option adds an extra line of whitespace between accounts for easier readability.

9 Choosing a Report Format The Budgeted Financial Statement has six built-in report formats from which to choose. Use the Which Format pull-down field to select a format. Once you have selected a format, you can preview which columns will appear on the report by examining the contents of the Format Columns list box. If you are interested in seeing how one of the built-in reports functions, you can select a report using the Which Format pull-down field and clicking the Edit Format button. You will be unable to edit a built-in report; however, you can use a built-in report as the basis to modify for another report (covered in the Custom Formats section). The built-in reports are: Shelby Standard Format Includes current year information such as budgets and actuals for the period, year, and year-to date, and the variance between budgeted and actual amounts. Shelby Standard-Annual & Rev Budget w/actuals Includes proposed and revised budget information for the period and year-to-date, as well as actuals. Shelby Standard-Annual Budget Includes actuals and budgets for the period and year-to-date, variance between the two, and the remaining budget for the year. Shelby Standard-Annual Budget with Variance Includes annual budget, actual and budget year-to-date, and the variance between the two, expressed in dollar amounts and a percentage. Shelby Standard-Multiple Years Comparison Compares actuals for the current year and the previous three years, and reports the variance between the years expressed as a percentage. Shelby Standard-TY Period vs. LY Period Compares actuals for the current year and the previous year, and expresses the results in a percent change and a net change in dollars.

10 4 Custom Formats Custom formats allow you to choose which built-in columns to include in the Budgeted Financial Statement. Custom formats also allow you to create your own columns produced by calculating one column against another. For example, you could choose to include the current period actuals in column A, the actuals from the same period from the previous year in column B, and you could create a formula column that finds the difference by subtracting A from B. Even if you do not need a complex report, you can use the custom formats to change the column order. Creating a Custom Format When you create a custom format, you have the option to create a format from scratch, or to build off an existing format (built-in or another custom format). To create a new format: 1) Navigate to the Budgeted Financial Statement Preferences tab. 2) If you wish to build off another format, select that format using the Which Format pulldown field. If not, select any format. 3) Click the New Format button to the right of the Which Format field. 4) If you wish to build off another format, click the Yes button on the Would You Like to Use (Report Name) as the Basis for the New Report window. If not, click the No button. 5) Enter a name for the report in the Name field. 6) Enter account information options, which columns to include, and create formula columns. Hide and rename each column as necessary. 7) Move a column line up or down in the list by clicking on the column line and clicking finger buttons on the left side of the window. Column A will appear as the first column on the report, column B as the second, etc. 8) Click the OK button when finished.

11 Choosing Account Information Options Although there are three account information options to choose from, you will choose to use Account # and/or Description columns, or you will use the combined Account#/Description column. Using separate columns allows you to separate this information and place on or more columns between the Account # and Description columns. If you plan to have this information side-by-side in your report, however, use the combined Account#/Description column as it takes up less space on the report. Choosing Columnar Information You will notice that there is a column grouping for each year you have in your chart of accounts. If you expand the column groupings by clicking the Plus button next to each year, you will notice that every year has its own set of built-in columns. There is also a formula column grouping (discussed in the Defining a Formula Column section). These built-in columns are: Actual for Period Includes the net financial activity (sum of credits and debits) for the selected period. Actual YTD Includes the net financial activity (sum of credits and debits) since the beginning of the fiscal year to the selected period. Actual Annual Includes the net financial activity (sum of credits and debits) since the beginning of the fiscal year to the end of the fiscal year (regardless of period selected). Budget for Period Includes the proposed budget for the selected period. Budget YTD Includes the proposed budget since the beginning of the fiscal year to the selected period. Budget Annual Includes the proposed budget since the beginning of the fiscal year to the end of the fiscal year (regardless of period selected). Revised Budget for Period Includes the adjusted budget for the selected period.

12 Revised Budget YTD Includes the adjusted budget since the beginning of the fiscal year to the selected period. Revised Budget Annual Includes the adjusted budget since the beginning of the fiscal year to the end of the fiscal year (regardless of period selected). Debits for Period Includes the sum of all debit amounts for the selected period. Debits for YTD Includes the sum of all debit amounts since the beginning of the fiscal year to the selected period. Debits for Annual Includes the sum of all debit amounts since the beginning of the fiscal year to the end of the fiscal year (regardless of period selected). Credits for Period Includes the sum of all credit amounts for the selected period. Credits for YTD Includes sum of all credit amounts since the beginning of the fiscal year to the selected period. Credits for Annual Includes the sum of all credit amounts since the beginning of the fiscal year to the end of the fiscal year (regardless of period selected). To include one of these columns on the report, expand the column grouping for the year you want to include and simply click on each desired column. Feel free to mix columns for varying years. Defining a Formula Column To create a formula column, expand the formula column group and click on Formula 1. You will then see a Formula 1 row appear on the right side of the window. To enter a formula, click on the Formula 1 row and a formula window appears. Enter a formula in the Formula field (see the Examining Common Formulas section) and select the Currency radio button if this is a dollar amount calculation, or select the Percent radio button if this is a percent calculation. Click the X to close the formula window.

13 Renaming Columns Looking at each column row, you can see that the system name for the selected column appears in the grey blocks, and a user-defined name (the column name that will appear on the report) appears in the yellow blocks. You can change the user-defined column name by clicking in a yellow field and typing a new name. The Description field also supports Shelby Printer Markup code that will allow you to bold or italicize the fonts, change the fonts, change the font size, and more. See the Shelby help files (under Supplemental Documents) regarding this subject for more information. The pipe symbol (the vertical line symbol that occupies the same key as the backslash character on your keyboard, i.e. Shift + Backslash) can be used in the yellow userdefined description fields to indicate a line wrap mark. For example, if you type Current Year Actual Amount in the yellow description field, the text will appear in the column heading as so on the report: Current Year Actual Amount Hiding Columns Deselecting the Visible checkbox in a column row will prevent the column from appearing on the report. Typically, you would want to hide a column row if you were using it just for a calculation for another column. You may also want to disable columns temporarily to produce a slight variation of one format without having to create another. For example, if you wanted two copies of the same Budgeted Financial Statement, except one report reversed the signs to help budget committee members read the report, you could create two columns for this purpose, turning one on and the other off as needed. This will prevent you from having to create a separate format.

14 Examining Common Formulas Addition, Subtraction, Multiplication, and Division Use the Plus(+) sign to add, Minus(-) sign to subtract, Asterisk(*) to multiply, or Slash(/) to divide the amounts of two or more columns, or to add, subtract, multiply, or divide a static number to the amounts of a column. Multiplication and division always take place before addition and subtraction. Examples: A+B A+B+C A+100 A+B+900 A-B A-555 A*B A*B*C A/B A/100 A+B*C A*C/2-1*A B-A Rounding If you want to round amounts to the nearest dollar, you can use the ROUND(A, 0) function to do so. To use this function, simply enter the column name for A. Examples: ROUND(A,0) ROUND(B,0) ROUND(A+B,0) Parentheses Use Parentheses( ( and ) ) are used to determine what operation should be carried out first. For example, if you entered A*B+C*D into the formula field, your computer would first multiply A and B, multiply C and D, and then add the two results together. However, if you entered A*(B+C)*D, your computer would first sum B and C, multiply A to the result, and then multiple D to that result. Using this example, if you assumed that A=$1, B=$2, C=$3, D=$4, the first equation would produce $14, whereas the second equation would produce $20. Examples: A*(B+C)*D A/(B-C) A*(A+100) ROUND(A*(B+C), 0) ROUND((A+B) * (C+D), 0)

15 Formulas: Putting It All Together Here is a real world example that puts all of these concepts together. Assume you have one column Column A that represents your budget amount (period irrelevant). Assume you have a second column Column B that represents your actual totals. The formula you would use to calculate your remaining budget: A-B calculate your remaining budget, signed reversed: B-A calculate the percentage of your budget remaining: (B/A)*100 Editing a Custom Format To edit an existing Budgeted Financial Statement format, use the Which Format pull-down field to select the format you want to edit and then click the Edit Format button. You will not be able to edit built-in formats. You can also edit Budgeted Financial Statement formats from the Budgeted Financial Formats area. To navigate to this area and edit a report: 1) From the General Ledger Home Base screen, click Utility on the menu bar at the top of the screen. 2) Choose Budgeted Financial Formats from the Utility menu. 3) Double-click on the report that you want to edit. Deleting a Custom Format You can delete a format from the Budgeted Financial Formats area only (see the Editing a Custom Format area to learn how to navigate to this area). To delete a custom format: 1) From the Budgeted Financial Formats area, right-click on the format you want to delete. 2) Choose Delete from the context menu.

16 5 Advanced Exporting Options After clicking the OK button on the Budgeted Financial Statement options screen, you will see a print preview of the Budgeted Financial Statement report. You can click the Print icon on the Print Preview screen to send the report to your printer. Alternatively, if you do not need a hardcopy of the report, you can save the report as a file for later viewing. You can also export the report results to an Excel spreadsheet for manipulation. If you are using another spreadsheet program, you can save the report in a comma-delimited.csv file. You can also use the.csv file to import the report results into another Microsoft Office product, such as Word. Exporting a Budgeted Financial Statement to Excel To export a Budgeted Financial Statement to Excel : 1) Click the Reports link on the General Ledger Home Base screen. 2) Mouse-over Monthly Reports in the context menu. 3) Click on the Budgeted Financial Statement menu option to launch the Budgeted Financial Statement report options screen. 4) Choose your report options, format, etc. 5) Select the Interface with Excel checkbox. 6) Click the OK button on the Budgeted Financial Statement report options screen as if you were printing the report. Performing these steps will launch Microsoft Excel with the report results placed in appropriate columns and rows instead of launching the Print Preview screen. Saving a Budgeted Financial Statement as a.pdf,.csv, or Rich-Text Format File As mentioned, a.csv file is a comma-delimited file that can be imported into many software products. A.pdf file is a file type that can be viewed with Adobe Reader or an Adobe Reader plug-in for your browser. Since the Adobe Reader program is free,.pdf files have become a universal file type for saving text-and-graphic style documents. The Shelby installation procedure prompted you to install Adobe Reader when you first set up Shelby, so it is likely that Adobe Reader is already installed on your workstation unless you said No to this prompt. One drawback to.pdf files are that they are not editable unless you have purchased Adobe Acrobat, a professional version of Adobe Reader.

17 A rich-text format files (.rtf) allow you to use advanced text formatting options, such as bolding, italics, underlining, font size, etc. These files can be used in most word processors, but the richtext feature was originally incorporated into Shelby to export Shelby reports into calendar programs. To save a report as one of these file types: 1) Execute a Budgeted Financial Statement so that you see the Print Preview screen. 2) Click File on the menu bar at the top of the Print Preview screen. 3) Mouse-over Save As from the menu. 4) Select a file type from the submenu. 5) Choose a file name and location, page range, and compression options (if applicable) and click the OK button to create the file.