Utilize Accounting Master’s financial report tools
By Mary White, Accounting Master Product Owner
Financial reporting is an integral part of running a business. Financial tools such as the Financial Report Wizard and the Financial Report Viewer are designed to accommodate the flexibility needed to generate detailed and accurate Balance Sheets, Income Statements, and other customizable financial reports critical to the operation of your company.
As MACC fully transitions from the outdated Financial Report Code and Report Format screens to the Financial Report Wizard and Viewer, you will experience the following benefits while creating, maintaining, and reporting financials within the Accounting Master system.
- Create consolidated reports across companies.
- Generate data on a single period, multiple months, or 12 rolling months.
- Create a financial at any point during the month using the Estimated Financial feature – no need to close the period first.
- Easily consolidate multiple months and/or multiple companies using the Show Totals option. Report the total column before the detail, after the detail, or without the detail.
- Select from 20 plus categories to display on your report including; current period, YTD, previous year, budget, and percentage based comparisons to name a few.
- Create and display elimination entries for consolidated reporting.
- Display financial results from a grid with an unlimited number of data columns.
- Drill-down from financial total, to GL account balance, to GL account detail, to the source of the transaction.
- Chart your financial results using the chart customization tool. Results can be displayed at both the Total and/or Subtotal level of your financial report.
- Display financial results on a printed report that resizes to fit the amount of data columns selected for print. Up to 13 columns of data can be viewed on a single printed report.
- Choose to print on legal size paper when applicable.
- Print your company logo on the statement.
- Create and save custom report criteria for repeat reporting at a later time.
- Create financial reports at the suffix (expense matrix) level of an account. \
- Customize the display of the report using bold, underline, double underline, indent, or color options.
- Retain ranges of accounts (suffixes) while creating your format so when future accounts are added to your chart of accounts they will automatically be inserted into all applicable reports.
- Assign specific database users access to a statement format.
As a reminder, the Financial Report Format and Financial Report Code screens will be no longer be available in the system after the 16.2 release of Accounting Master (October 2016). MACC will only support the financial reporting features provided with the Financial Report Wizard and Financial Report Viewer. For questions on how to create your financials using these tools, please contact your Accounting Master Software Support Representative.