The first step in creating the Financial Statements is to identify how G/L accounts are grouped within reports. To do this, we categorize accounts into statement groups. To review the statement groups, navigate to the Statement Group Entry screen. On the Navigation pane enter [d] General Ledger, then [u] Set Up, then [d] Statement Group Entry:
All accounts flagged as balance sheet accounts will be included in the Balance Sheet.
The ‘heading type’ field on the Statement Group record tells Abio how to organize your Balance Sheet.
The heading type has the following meanings:
- ‘T’ – Title – titles accumulate all values until the next title is encountered.
- ‘C’ – Category – categories are accumulated and a total displayed whenever a title is encountered.
- ‘H’ – Heading – headings are accumulated and a total displayed whenever the next category or title is encountered.
- ‘S’ – Subheading – subheadings are accumulated and a total displayed whenever the next heading, category, or title is encountered.
G/L ACCOUNTS
The first two characters of a G/L Account indicate which Statement Group they belong to. In the above example, Statement Group 31 is described as Accounts Payable. That means that in this company, all Accounts Payable accounts will begin with ’31’:
These accounts will be reported under the heading ‘Accounts Payable’, because that’s how their Statement Group is coded.