U IZRADI! Using Date 2 in Displaying Financial Reports

U IZRADI! Using Date 2 in Displaying Financial Reports

As the various financial reports calculated with different date and other criteria, and recorded in various printouts, we recommend that you save these in a template. Templates are tied to a particular form of financial report.

In financial report template there is switch D.2. If it is marked in a position of financial report, the calculation of the positions using a different set of dates as for other financial report positions (see Financial Statement Report - Date 2). . Switch is effective only at the positions, where in the formula appearing value accounts (eg. #K760%).  It can not therefore be used (or is no effect) on positions, where in formula performs a reference to the second positions of the balance (eg. #A51#).

Switch and additional date criteria used in the income statement (see example below) and in the statement of cash flows.

We can mostly avoid usage of Date 2 by not select initial journal as criteria. Such a consideration applies only to cases where the date 2 is used so that we can eliminate the opening balance of each financial report category.

An example of annual P&L report:

One of category of  balance sheet or P&L statement  is formula for Change in stock of products, semi products and unfinished products. For this formula Date 2 information is needed. For this purpose they must be fulfilled two conditions:

• on the first day of the period (current financial year) only initial balance of stock need to be entered in general ledger,
• in Date 2 enter dates from 02.01. to 31.12. of fiscal year calculation is prepared.

We design a logical formula in a position of financial report as follows:

• if the debit transaction (excluding the opening balance, which posted on date 01.01.) is greater than the credit turnover, the difference between the two is considered as increase in stock value,
• if the debit transaction (excluding the opening balance, which posted on date 01.01.) is less than the credit turnover, the difference between the two is considered as decrease in stock value.

Date criteria in such case are entered:

• the dates for all financial report positions, as well as mandatory yet
• date 2 for financial report positions, which use other date criteria.

When we need also data for the previous year, we need to set same pair of dates for the previous year.

When using formulas from that example for calculating change of the value in stock of production and unfinished production in  interim financial reports, which decrease initial balance, we need to  skip date of opening balance in Date 2 parameter.

Example to display the financial report for the month without opening journal:

P&L for March 2015 has set dates in Period:

• from 01.03.15 (first date of the period),
• do 31.03.03 (last date in period).

Date in field Period - Date 2 for P&L which has no opening balance journal need dates set:

• from 01.03.15 (first date of the period),
• do 31.03.03 (last date in period).

Example to display the financial report for the month with opening journal:

P&L for period from January to March 2015 has set dates in Period:

• from 01.01.15 (first date of the period),
• do 31.03.03 (last date in period).

Date in field Period - Date 2 for P&L which has no opening balance journal need dates set:

• from 02.01.15 (second date of the period),
• do 31.03.03 (last date in period).

To simplify our work it would be recommended to use different template for financial reports which include opening balance journal and those without.

An example of intermediate P&L report:

We need to be careful with using formulas and Date 2 for P&L reports by months. If we set formulas without using date 2, document type for initial balance need to be unmarked (DT 400). Else result (value) in first month (January) will be incorrect. The need to find differences between the opening balance and amount at the end of the period fall off.

Setting criteria that do not take into account the opening journal is preferable to use an extract of the income statement by months as the January result does not "spoil" the state of the opening journal in stock items.