Balance Sheet
The Balance Sheet displays the distribution of your firm’s assets, liabilities, and net worth as of the current date.
The report also includes totals for assets, liabilities, net worth, and liabilities + net worth. Total assets should equal total liabilities plus net worth. If these totals do not agree, Deltek displays the amount of the discrepancy at the end of the report.
Settings that Affect GL Reports
You can only generate the cash-basis version of this report if you select the Cash-Basis Reporting option on the Reporting tab of the Accounting System Settings form ().
The Organization Record Access setting for your role on the General tab of the Roles form () determines the organizations for which you can see data on this report.
Organizations and Separate Balance Sheets
If you use organizations, use the Maintain Separate Balance Sheets by Organization option on the Organization General Setup form () to specify whether or not you want to maintain the data needed to generate a separate Balance Sheet for each organization.
You have the following choices:
- If you do not want to maintain separate Balance Sheets, you specify a default organization on the Organization General Setup form. Deltek assigns all explicit and implicit postings to balance sheet accounts to this default organization. You do not need to enter a project number when you enter a transaction that affects a Balance Sheet account. When you generate a Balance Sheet, Deltek generates the report for the company as a whole, using the data for the default organization.
- If you do want to maintain separate Balance Sheets, you enter a project number for every transaction that affects the balance sheet accounts. Deltek uses the project number to determine which organization receives the posted transaction. The result is that Deltek tracks transactions affecting balance sheet accounts by organization. Because of that, you can generate Balance Sheets for individual organizations or generate a Balance Sheet for the company as a whole.
No similar option exists for the Income Statement because Deltek automatically tracks the data required to generate a separate Income Statement for each organization.
Link Bank Codes and Liability Codes to Organizations
To maintain separate Balance Sheets, you must also:
- Link each of your bank codes to an organization on the Bank Codes form ().
- Link each of your accounts payable liability codes to an organization on the Company AP Configuration form ().
Account Groups
You can use account groups to organize accounts on financial reports. You establish account groups on the General tab of the Accounts form ().
Increase Performance with the Use Summary Table Option
Because of the calculations involved, it may take longer to generate this report than other reports. This is particularly true for large databases. To get the best performance, do the following before you generate this report:
- Run the Refresh GL Summary Table utility.
- Select the Use Summary Table option on the General tab of the Options dialog box for the report.
Recommendation: The Refresh GL Summary Table utility calculates and stores the financial data needed for this report in a summary table. We recommend that you schedule the Refresh GL Summary Table utility to run after business hours each night, so that financial reports printed the next day show current data as of close of business the day before.
Multiple Companies
You can generate a consolidated Balance Sheet for multiple companies. To generate that report, go to
You must maintain separate balance sheets (see above). This is necessary so that you can identify the company that "owns" an account when you enter a balance sheet transaction for an account available to more than one company.
If the report includes intercompany accounts receivable or intercompany accounts payable accounts, you can drill down from the account description column in those rows to see supporting detail in the Intercompany Billing Detail report. (This drill-down option is only available if your role security gives you access to the Intercompany Billing Detail report. It is not available from report rows for tax-related journal entries.)
When you drill down from an intercompany accounts receivable account, you see complete detail for the supporting intercompany transactions. When you drill down from an intercompany accounts payable account, you do not see the Originating Company Cost Amount and Originating Company Journal Entry Amount columns.
If the report includes rows for accounts that belong to companies other than the active company, the same drill-down option is available from those rows.
Multiple Currencies
If you use multiple currencies, a report may display amounts in different currencies. If a report contains a total for amounts in a mix of currencies, the report displays
#### as the total, instead of an amount. If the report displays amounts in different currencies, it is a good idea to include currency symbols or currency codes. To do that, click the Layout tab of the Options dialog box and click
in
Currency to open the Format Currency dialog box. You may want to use the currency code in place of the currency symbol when the report includes more than one currency with the same symbol. For example, U.S. dollars and Canadian dollars both use $ as the currency symbol. If you use the code rather than the symbol, the report displays
USD and
CAD instead of $.
An alternative to mixing currencies on the report is to select a presentation currency. When you generate the report, Deltek converts all amounts to the presentation currency. The advantage of this method is that you can make meaningful comparisons between amounts, and the report can display meaningful totals.
Options Dialog Box
Use the Options dialog box to specify reporting options for a report. Depending on the report, the dialog box contains one or more of the following tabs: General, Sorting/Grouping, Columns, Budget, Metrics, User Defined Sections, Activity, Drill Down, Layout, and Graph.