Contents of the Manage Financial Statements Screen

Use the fields and options to configure the Manage Financial Statements screen.

When to Use This Screen

Design the layout of the primary financial statements as part of your system initialization. Because each account in the Manage Accounts screen must belong to the primary balance sheet, the primary income statement, or the statement of cash flows, this is one of the first screens you should use as you set up Costpoint.

Enter the financial statement line for your net profit/loss on the Configure General Ledger Settings screen during initialization.

Before you can link accounts to the non-primary financial statement lines on the Link to Accounts subtask, you must first set up accounts on the Manage Accounts screen.

Warning: If you are changing project account groups, owning organizations for projects, revenue levels or formulas, or organization structures, you should wait to make these changes until final revenue has been computed for the fiscal year being closed. Making changes at the wrong time could result in incorrect calculations in the current fiscal year.

Income Statement, Statement of CI, and Balance Sheet Subtotals and Line Sequence

The major subtotal titles and group headings you set up here for an income statement, balance sheet, or statement of CI (comprehensive income) define the subtotals that display on the financial statements. The order in which you set up financial statement lines in this screen determines the order in which these lines display on your financial statements.

You must set up the financial statement line for profit/loss here before you can enter it in the FS Line on the Configure General Ledger Settings screen.

Statement of Cash Flow Subtotals and Line Sequence

The statement of cash flows subtotals by activity type. The order in which the lines default from your primary balance sheet and income statements defines the order in which they display under each activity type. You can change the system-generated statement of cash flows on the Manage Preliminary Cash Flows Statement screen.

Financial Statement Set Up

Field	Description
Financial Statement Code	Enter a financial statement code for the financial statement you are setting up. You use this code to identify the financial statement when you generate financial statements. Costpoint provides a default primary balance sheet, income statement, and statement of cash flow, with codes of BALSHT, INCSTM, and CSHFLOW, respectively. You can either modify these default statements or set up new primary financial statements to replace them before saving this information for the first time. Note: After you have saved the financial statement code, you cannot change it. If you need to set up new a new financial statement as the primary balance sheet, income statement, or statement of cash flows, first clear the Primary Financial Statement check box for the current primary financial statement of that type.
Description	Enter a description of the financial statement.

Financial Statement Classification

Type

Select the option for the type of financial statement you are designing.

Field	Description
Balance Sheet	Select Balance Sheet (this is the default) if the major subtotal lines reset their totals on every change of title.
Income Statement	Select Income Statement if the major subtotal lines maintain a running total despite a change of title.
Cash Flows	Select Cash Flows if you are seeking sources of net cash provided to your company. If you select Cash Flows, the columns in the table window (see below) change accordingly and the fields in the Cash Flows block are enabled. The statement of cash flow, the balance sheet, and the income statement must be at the same organization level because Costpoint derives the statement of cash flow from both the balance sheet and the income statement.
Statement of Comprehensive Income	To set up a separate statement of comprehensive income, select Statement of CI. Multicurrency users who revalue their balance sheet accounts use this financial statement if they want a separate statement rather than displaying the other comprehensive income at the bottom of the income statement. When you select this option, the Income Statement Code field is enabled. Note: This option is only available if Separate Statement of CI is selected in the Other Comprehensive Income Info block on the Configure General Ledger Settings screen.
Primary Financial Statement	Select this check box to make the financial statement one of your primary financial statements. You must set up the primary financial statements before you can begin entering accounts on the Manage Accounts screen. Each account you set up on the Manage Financial Statements screen must belong to one line of the primary balance sheet or the primary income statement. You can only have one primary balance sheet, primary income statement, and primary statement of cash flows. If you want to make a different balance sheet, income statement, or statement of cash flows your primary statement of that type, first clear this check box for the current primary financial statement. Note: If you designate a different balance sheet or income statement as primary after selecting this check box, you must then link accounts to financial statement lines on the Link to Accounts subtask. You must do this each time you replace a primary statement.
Sync with Cash Flows Statement	Select this check box for a balance sheet or income statement to synchronize that financial statement with the linked statement of cash flows. If you select this check box, Costpoint updates the statement of cash flows if you change the linked income statement or balance sheet.

Cash Flows

Field	Description
Balance Sheet Code	If you selected Cash Flows in the Type group box, enter, or click to select, the financial statement code for the balance sheet that you want to link to this statement of cash flows.
Income Statement Code	If you selected Cash Flows in the Type group box, enter, or click to select, the financial statement code for the income statement that you want to link to this statement of cash flows.
Load	Click this button to load the details of the balance sheet and income statement into the statement of cash flows.

Income Statement

Field

Description

Include Unposted OCI Amounts

This check box is only available if you select Income Statement in the Type group box and if the OCI on the Income Statement option in the Other Comprehensive Income Info block on the Configure General Ledger Settings screen is also selected. Select this check box if you want the income statement to include other comprehensive income amounts that were not posted to the general ledger as part of the balance sheet revaluation process. Do not select this check box if you want the income statement to include only other comprehensive income posted by the balance sheet revaluation process to the general ledger account that you specified on the Configure General Ledger Settings screen.

Statement of CI

Field	Description
Income Statement Code	This field is only available if you select the Statement of CI option in the Type group box. Enter, or click to select, the financial statement code for the income statement from which you want Costpoint to calculate the net income amount displayed on the first line of the statement of comprehensive income.

Table Window: General Description

Note: The columns in this table window vary depending on the option you select in the Type group box.

For an income statement or balance sheet, add a row in the table window for each line of the financial statement. Your actual financial statement prints each line in the same order that you establish in this screen, with totals and subtotals based on your major subtotal titles and group headings. The statement of cash flows subtotals by activity type ("Operating," "Financing," and "Investing").

To prepare for setting up a financial statement, we recommend that you first organize it on a paper or in a spreadsheet. First, decide on the major groupings (major subtotal titles) you want, such as Assets, Liabilities and Equity, Gross Margin, Net Profit Before Taxes, and so on. All group headings and line titles set up with the same major subtotal title are subtotaled together on the financial statement, if they are in the correct sequence in the table window.)

Next, determine the group headings. For example, in the Assets group, you are likely to have Current Assets, Fixed Assets, and Other Assets. All line titles set up with the same group heading are subtotaled on the financial statement, if they are in the correct sequence in the table window.)

With the group headings defined, decide on the line descriptions within each group. For example, within the Current Assets group, you could have Cash, Billed Receivables, and so on.

Next, enter the information for each line of the statement into the table window in the order in which you want the lines to display on the financial statement. For example:

Major Subtotal Titles	Group Headings	Line Titles	Reverse Sign
Assets	Current Assets	Cash	Not selected
Assets	Current Assets	Billed Receivables	Not selected

In this example, amounts for Cash and Billed Receivables are included in the subtotal for Current Assets on the financial statement. The subtotal for Current Assetsis in turn included in the subtotal for Assets, along with any other groups for which you entered Assets in Major Subtotal Titles. You must set up financial statement lines in this table window in the order in which they should print on the financial statement in order for the subtotals to work correctly. In other words, all items that have the same group heading must be grouped together in the table window, and all items that have the same major subtotal title must be grouped together.

To complete the process, use the Link to Accounts subtask to assign the accounts that contribute amounts for each line of the financial statement.

Note: As you move from one row to another, Costpoint takes a moment to load the accounts behind each individual row. It does that so that, when you click the Link to Accounts link, there is no delay. To move around more quickly in the table window, use the mouse to click on the row with which you want to work, instead of using the arrow key or TAB key.

Table Window: Balance Sheet, Income Statement, Statement of Comprehensive Income

Note: The table window contains the columns described here when you select the Balance Sheet, Income Statement, or Statement of CI option in the Type group box.

Field	Description
Major Subtotal Titles	Enter a major subtotal title for the financial statement line. For example, common entries for balance sheets are Assets and Liabilities and Equity. Enter the same major subtotal title for each line of the financial statement that falls under it. Group all of those lines together in the table window in the order in which you want them displayed in the financial statement. The financial statement contains a subtotal of amounts for all lines assigned the same major subtotal title.
Group Headings	Enter a group heading for the financial statement line. For example, common entries for balance sheets under Assets are Current Assets, Property, Plant, and Equipment, and Other Assets. Enter the same group heading for each line of the financial statement that falls under it. Group all of those lines together in the table window in the order in which you want them displayed in the financial statement. The financial statement contains a subtotal of amounts for all lines assigned the same group heading.
Line Titles	Enter a line title for the financial statement line. This title is displayed for the corresponding detail line on the financial statement. For example, the line titles for detail lines under the Current Assets group heading could be Cash, Billed Receivables, Prepaid Expenses, and Notes Receivable. Assign line titles in the table window in the order that you want them displayed on the financial statement.
Include Unposted OCI Amounts	This column is only available if you select Statement of CI in the Type group box. Select this check box if you want this line of the statement of comprehensive income to include other comprehensive income amounts that were not posted to the general ledger as part of the balance sheet revaluation process. Do not select this check box if you want the statement of comprehensive income to only include other comprehensive income posted by the balance sheet revaluation process to the general ledger account that you specified on the Configure General Ledger Settings screen.
Reverse Sign	Select this check box if the line normally has a credit balance so the amount for the line displays as a positive amount. Do not select this check box if the line normally has a debit balance. For example, you normally select Reverse Sign for an accounts payable line but not for a cash line. The following table provides general guidelines: Account Type Selected? Assets Not selected Liabilities Selected Equity Selected Income Selected Expenses Not selected When you add a balance sheet, be sure to link the appropriate income statement accounts to the financial statement line for net profit/loss so the balance sheet will balance.
Revenue	This column is only available if you select Balance Sheet or Income Statement in the Type group box. Select this check box if the line contains revenue account balances. Do not select it if the line does not contain revenue accounts. Do not link a single financial statement line to both revenue and non-revenue accounts.
FS Reclass Debit Account	This column is only available if you select Balance Sheet or Income Statement in the Type group box. Enter the number of the account that will be used for the debit side of the cost transfer journal entry for this financial statement line, or use Lookup to select the account. When the cost of a project is charged to the performing organizations and the revenue is collected by the owning organization, the Create Cost Transfer Journal Entry process automatically creates a journal entry to reallocate the cost from the performing organization to the owning organization. After posting this journal entry, you can generate income statements by organization. If they do not already exist, set up the financial statement reclass debit accounts on the Manage Accounts screen. They should be detail accounts with the Project Required check box cleared. Assign them only to lines on income statements and only to lines that contain project costs. Note that the reclass accounts for the pool costs are entered on the Manage Cost Pools screen. Therefore, it is not necessary to enter account numbers in this table window for financial statement lines that contain only burden cost accounts. Debit and credit accounts should be unique for each financial statement line, to provide visibility to the reclass process. Be sure to link the reclass account numbers to the proper organizations and to their respective financial statement lines when you assign accounts.
FS Reclass Credit Account	This column is only available if you select Balance Sheet or Income Statement in the Type group box. Enter the number of the account that will be used for the credit side of the cost transfer journal entry for this financial statement line, or click to select the account.
Elimination Account	This column is only available only if you are licensed for the Consolidations module and only if you select Balance Sheet or Income Statement in the Type group box. Enter the number of the account you want to use as an elimination account for the financial statement line. You can enter elimination accounts only for primary financial statements. Elimination entries are journal entries that eliminate duplicate revenue, expenses, receivables, and payables. These duplications occur as the result of intercompany work when the sending and receiving companies both recognize the same effort. Both entities correctly recognize the revenue, expenses, receivables, and payables on their respective company financial statements, but at the consolidated level, these amounts are duplicates and must be eliminated. Elimination journal entries are calculated on a year-to-date basis and are reversing. Costpoint uses the accounts entered in this field to eliminate the amounts on the financial statement line when the elimination entry is created. That process sums the balances of each account linked to the financial statement line and creates an elimination entry to the account in this field.

Table Window: Cash Flows Statements

Note: The table window contains the columns described here when you select the Cash Flows option in the Type group box.

Field	Description
Primary F/S Line Titles	This column displays the line titles from the linked balance sheet or income statement. You cannot modify line titles and account links directly for the statement of cash flows. However, you can select the balance sheet or income statement and make changes there.
Cash Flows Account Type	Enter the cash flow account type code that you want to associate with the accounts linked to the financial statement line, or use Lookup to select the account type. Each account type has an assigned calculation method that controls the calculation of amounts for that financial statement line.
Activity Type	Enter the activity code for the line, or click to select it. The valid options are: Operating Financing Investing Not Applicable Note: If you assign the activity types incorrectly, the statement of cash flows still balances, but the activity type subtotals are incorrect.

Subtasks

Subtask	Description
Cash Flow Accounts	Click this link to open the Cash Flow Accounts subtask.
Link to Accounts	Click this link to open the Link to Account subtask.