Tip of the Week #57 – How to Create Account Schedules
PrintVis CFO Birthe Brøndum Jacobsen has a tip this week for all of you out there who are tasked with handling the company books and ensuring the data is well organized and matches up where it should.
If you need to show your financials, of course you can choose just to print out a simple balance.
But you also have the possibility to make it look better if you create an account schedule.
Go to Departments, then Financial Management and click on Account Schedules.
You can create many different Account Schedules – so they can fit to whatever specific data you need to show.
To create the Account Schedule you press new – name the schedule – and press edit to start creating your schedule.
In this Account Schedule, you have the possibility of making groups, and adding the value of several accounts into one line.
You can make a subtotal in every group (formula line). In this example line 21 and 22 are the amounts we want to show in the subtotal.
Remember to make a total at the end – where you add the different subtotal lines.
When you have entered all your lines – press Overview
You can setup different period in the date filter.
This overview you can export to excel, just by pushing action – and export
This Excel sheet you can customize/decorate – in your own style – and make it presentable.
You have the possibility to make an Excel template, and simply copy the new totals in daily – weekly – monthly.
Another valuable use of this feature is to create a master Account Schedule whose formula would include every individual account (“a to z”) – from which you can cross-reference the correct sums of other Account Schedules.
For example, many of these lists will include accounts that have existed for years – even decades – within your company books. When you establish a new account in a company that maintains hundreds, it’s quite possible to forget to include it in every pertinent report. Creating an Account Schedule that runs your company numbers through several filters can help you discover a discrepancy between 2 (or more) totals that should match.