![\"\"](\"https:\/\/sagefinancialsknowhow.com\/wp-content\/uploads\/2019\/09\/ReportingImage2.png\")
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Sage Financials gives you no less than FIVE<\/em> different reporting technologies:<\/p>\n Each one has its own unique benefits and this is the first of a series of articles to explain how they work and what you can do with them. This is the first article covering ‘Key Financials Reports’.<\/p>\n The \u2018Key Financial Reports\u2019: Balance Sheet; Profit & Loss; Trial Balance can be accessed from ‘Reports \u2013 KEY FINANCIAL REPORTS’ subtab and all work using the same technique:<\/p>\n KEY POINT:<\/strong> If you change the data by posting new transactions, or unposting old transactions, the dataset will be updated, but if you make changes to the Chart of Accounts, or the report configuration, you have to \u2018Refresh\u2019 the report to see the current data.<\/p>\n You can change the way these reports work through \u2018Configuration \u2013 LEDGER ANALYSIS\u2019 subtab. Here you will see one ‘Ledger Analysis’ for each ‘Key Financial Report’.<\/p>\n WARNING \u2013 Always create a Clone of the Ledger Analysis before making any changes. Correctly setting the Ledger Analysis is not straight forward and getting it wrong can completely break your reports.<\/strong><\/p>\n Here is a standard Balance sheet with Period and YTD columns. Let\u2019s see how its setup:<\/p>\n From the \u2018Configuration \u2013 LEDGER ANALYSIS\u2019 subtab you can open the\u00a0Ledger Analysis<\/em> for \u2018Balance Sheet\u2019 which consists of Column definitions and Row definitions:<\/p>\n The first thing to notice is there are four columns definitions, but only two columns in the Balance Sheet report.<\/p>\n Drilling into a column definition, the \u2018Period\u2019 column definition is reasonably easy to understand:<\/p>\n Financial Year of zero and Period of zero simply means it uses the FY and Period you selected. The other fields should make sense.<\/p>\n Columns C04 and C06 are identical so far as I can see, using a measure of \u2018TTD\u2019 which I believe means YTD plus opening balances.<\/p>\n C05 is different, with Financial Year -1 indicating the previous FY and Period 98 indicating the Year Closing value. It also uses a measure of \u2018YTD\u2019 excluding the opening balances(?) (see https:\/\/help-financials.sage.com\/en-gb\/Configuration\/Define%20fiscal%20periods%20for%20companies.htm?Highlight=period%2098<\/span><\/a>)<\/p>\n Its only when you look at the Row definitions that this all makes sense.<\/p>\n From the Ledger Analysis click on \u2018View All\u2019 to display the Ledger Analysis Rows and check out the field \u2018Column Filter\u2019:<\/p>\n Most rows display column C01 and C04, but some display C01 and C06 (a bit odd as C06 is identical to C04\u2026) and some display C01 and C05 to display the \u2018previous year\u2019 figure.<\/p>\n Looking at one Row the \u2018Group\u2019 defines to top level header the data appears under, and the Subgroup the subhead. The Item Type of \u2018Account\u2019 and the Ledger Account of \u2018003 Office Equipment\u2019 results in a summing up of the balances for all the Subaccounts of \u2018003 Office Equipment\u2019.<\/p>\n TIP:<\/strong> The commonest error with this report is when one of the Accounts is missed out. If you modify the CoA you may also need to modify the Ledger Analysis.<\/p>\n The PnL works in a simpler way with the 3 columns visible on the report controlled by 3 columns definitions in the Ledger Analysis:<\/p>\n <\/p>\n C02 is YTD (note excluding the opening balances as they are not used in PnL) C03 is previous and C04 the increase\/decrease using the formula:<\/p>\n ((VAR(“1 Current YTD”) – VAR(“2 Prev YTD”))\/ VAR(“2 Prev YTD”) * 100) The Row definitions do not use \u2018Column Filter\u2019 so just display all three columns.<\/p>\n The Trial Balance makes substantial use of the Column Filter in the Row Definitions:<\/p>\n Income and Expenses use the ‘YTD’ value (ie excluding opening balances) whereas Assets & Liabilities use ‘TTD’ to include the opening balances.<\/p>\n As well as Columns & Rows, the Ledger Analysis record for each report type has ‘Ledger Analysis Instances’ which are created when you click ‘Create New’ or ‘Refresh’ the report. You have one ‘Ledger Analysis Instance’ for each FY & Period you report on.<\/p>\n The ‘Ledger Analysis Instance’ then has one ‘Ledger Analysis Item’ for each data point in the report. The actual VALUE displayed in the report comes from the ‘Ledger Balance’ object. The Ledger Balance records are kept in sync with the Ledger Items postings so the reports should always display the correct figures. It is possible for the Ledger Balances to become out-of-sync with the Ledger Items and this can be very confusing as the figures in the Balance Sheet or PnL do not agree with those in your Nominal Ledger. If you have unexpected figures, always start by ‘Rebuilding Balances’ (see Sage Help:\u00a0https:\/\/help-financials.sage.com\/en-gb\/General%20Ledger\/Rebuild%20ledger%20balances.htm?Highlight=Rebuild%20Balances<\/a>)<\/p>\n <\/p>\n Did you find this useful? Please\u00a0register to receive regular updates from Sage Financials\u00a0knowhow<\/em><\/a>.\u00a0<\/strong><\/p>\n If YOU are looking for training on reports, please fill in the Alpha Index enquiry form<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Sage Financials gives you no less than FIVE different reporting technologies: Key Financial Reports Salesforce Reports Sage Intelligence Einstein Analytics Financials Reporter Each one has its own unique benefits and this is the first of a series of articles to explain how they work and what you can do with them. This is the first Read more about Sage Financials Reporting Explained – Key Financial Reports<\/span>[…]<\/a><\/p>\n","protected":false},"author":1,"featured_media":834,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[4],"_links":{"self":[{"href":"https:\/\/sagefinancialsknowhow.com\/wp-json\/wp\/v2\/posts\/811"}],"collection":[{"href":"https:\/\/sagefinancialsknowhow.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sagefinancialsknowhow.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sagefinancialsknowhow.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sagefinancialsknowhow.com\/wp-json\/wp\/v2\/comments?post=811"}],"version-history":[{"count":0,"href":"https:\/\/sagefinancialsknowhow.com\/wp-json\/wp\/v2\/posts\/811\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sagefinancialsknowhow.com\/wp-json\/wp\/v2\/media\/834"}],"wp:attachment":[{"href":"https:\/\/sagefinancialsknowhow.com\/wp-json\/wp\/v2\/media?parent=811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sagefinancialsknowhow.com\/wp-json\/wp\/v2\/categories?post=811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sagefinancialsknowhow.com\/wp-json\/wp\/v2\/tags?post=811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
Key Financial Reports<\/h1>\n
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Configuring \u2018Key Financial Reports\u2019<\/h2>\n
The Balance Sheet un-packed<\/h3>\n
![\"\"](\"https:\/\/sagefinancialsknowhow.com\/wp-content\/uploads\/2019\/09\/BalanceSheet-1.png\")
<\/p>\n![\"\"](\"https:\/\/sagefinancialsknowhow.com\/wp-content\/uploads\/2019\/09\/BSConfig1-1.png\")
<\/p>\n![\"\"](\"https:\/\/sagefinancialsknowhow.com\/wp-content\/uploads\/2019\/09\/BSConfig2-1.png\")
<\/p>\nRow Definitions<\/h4>\n
![\"\"](\"https:\/\/sagefinancialsknowhow.com\/wp-content\/uploads\/2019\/09\/BSConfig5.png\")
<\/p>\n![\"\"](\"https:\/\/sagefinancialsknowhow.com\/wp-content\/uploads\/2019\/09\/BSConfig4-1.png\")
<\/p>\nPnL un-packed<\/h3>\n
![\"\"](\"https:\/\/sagefinancialsknowhow.com\/wp-content\/uploads\/2019\/09\/PnL-1.png\")
<\/p>\n![\"\"](\"https:\/\/sagefinancialsknowhow.com\/wp-content\/uploads\/2019\/09\/PnLConfig1-1.png\")
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\nHowever, as pointed out by Stephen Waller, this formula gives you a percentage, but is displayed as currency (\u00a395 instead of 95%). A better option is to edit this to:
\nVAR(“1 Current YTD”) – VAR(“2 Prev YTD”)
\nWhich will give you the difference. <\/em>But note this is the difference between the total for the previous financial year against the YTD for the current financial year.<\/p>\nTrial Balance<\/h3>\n
![\"\"](\"https:\/\/sagefinancialsknowhow.com\/wp-content\/uploads\/2019\/09\/TBconfig1.png\")
<\/p>\nThe Report Dataset<\/h2>\n
![\"\"](\"https:\/\/sagefinancialsknowhow.com\/wp-content\/uploads\/2019\/09\/DataStructure.png\")
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