Set a Category Type against all Nominal Report Categories- Expand Nominal Ledger from the left menu > Utilities > Ledger Set Up > Report Categories.
- Select the Category Type for each report category. Your choices will be either Asset or Liability for a Balance Sheet category and Revenue or Cost for a Profit and Loss category.
Note: If a report category is left as having an 'Undefined' category type, it may not calculate on reports in the correct manner.
Create a new Revenue and Cost LayoutTip: This article explains how to make your Revenue and Cost report look like a Profit and Loss report. You can of course, choose to make the layout look however you wish. - Navigate to Excel Reporting from the left menu > Financial Data Designer.
- Click Add > Assign a name to the layout > choose Revenue and Cost from the Layout type drop down.
- Highlight the relevant layout > Edit.
To set up a Revenue and Cost Layout StructureYou will find all Nominal Report Categories in the left-hand pane and the layout details in the right-hand pane. The first step is to build the layout structure in the Layout Details pane. All Nominal Report Categories in the left-hand window will eventually be inserted into this window.
The Layout Details screen works like a tree structure. When creating the structure, start with the bottom line of the report and work upwards. In this example, the bottom line of a Profit and Loss Report is the net profit or loss value so this is the first group that needs to be added to the report. - Select Add Group > Right-click on the new 'Untitled group' > Rename Group > rename the group to Net Profit/Loss.
Net profit/Loss is made up of Gross Profit/Loss less any overheads. The next 2 groups to add are Gross Profit/Loss and overheads. - Right-click on Net Profit/Loss created in the previous step > Add group, rename your new group in the same manner as before, in this case, Gross Profit/Loss. Repeat the process to create the 'Overheads' group. Right-click on Net Profit/Loss > Add group > rename the new group as 'Overheads'.
The final stage in creating the layout structure is to create the groups that make up Gross Profit/Loss. These are Sales, Purchases and Direct Expenses. - Right click on Gross Profit/Loss > Add Group. Name the group Sales. Repeat the procedure for the Purchases and Direct Expenses groups.
Add the Nominal Report Categories to the layoutAll Nominal Report Categories should now fall into the Sales, Purchases, Direct Expenses or Overheads categories. To complete the layout, drag each of the Nominal Report Categories from the left-hand pane into the relevant group in the right-hand window.
To create a new Asset and Liability LayoutYou will find all Nominal Report Categories in the left-hand pane and the layout details in the right-hand pane. The first step is to build the layout structure in the Layout Details pane. All Nominal Report Categories in the left-hand window will eventually be inserted into this window.
The Layout Details screen works like a tree structure. When creating the structure, start with the bottom line of the report and work upwards. In this example, the bottom line of a Balance Sheet is the 'Total Assets less Total Liabilities' value so this is the first group that needs to be added to the report. - Select Add Group > Right-click on the new ‘Untitled group’ > Rename Group > rename the group to Total Assets less Total Liabilities.
Tip: On a Balance Sheet, the 'Total Assets Less Total Liabilities' figure should balance with the 'Capital and Reserves' figure. Therefore, Capital and Reserves will be the second group. - Highlight the name of the layout > Add Group > Right-click on the new ‘Untitled group’ > Rename Group > rename the group to 'Capital and Reserves'.
- Now we need to create the sub-groups. Total Assets less total Liabilities is made up of Total Assets and Total Liabilities. Ensure the group 'Total Assets Less Total Liabilities' is highlighted > Add Group > Right-click on the new ‘Untitled group’ > Rename Group > rename the group to Total Assets. Repeat the process for Total Liabilities.
- Total Assets is made up of Fixed Assets and Current Assets. Ensure the group 'Total Assets' is highlighted > Add Group > Right-click on the new ‘Untitled group’ > Rename Group > rename the group to 'Fixed Assets'. Repeat this process for the Current Assets.
- Create the 'Total Liabilities' sub-groups. Total Liabilities is made up of 'Long Term Liabilities and Current Liabilities'. Ensure the group 'Total Liabilities' is highlighted > Add Group > Right-click on the new ‘Untitled group’ > Rename Group > rename the group to 'Long Term Liabilities'. Repeat this process for 'Short Term Liabilities'.
- The last step is to add the Profit and Loss group to 'Capital and Reserves'. This is to ensure the Balance Sheet actually balances. Highlight the Capital and Reserves group > Add Group > Right Click on the new ‘Untitled group’ > Rename Group > rename the group to 'Profit and Loss Account'.
To add your Nominal Report Categories to the LayoutUse the 'drag and drop' method to add any Nominal Report Category that has a report type of 'Profit and Loss' from the left pane into your layout in the 'Profit and Loss Account' group. Drag the remaining Nominal report categories with a Report type of 'Balance Sheet' into the relevant group. |