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.

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. 

Enter a description of the financial statement.

Use this group box to select the option for the type of financial statement you are designing. The options are:

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.

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.

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.

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.

Click this button to load the details of the balance sheet and income statement into the statement of cash flows.

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.

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.

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.

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.

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.

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.

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:

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.

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. 

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 Entries 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.

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.

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.

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.

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.

Enter the activity code for the line, or click to select it. The valid options are:

• Operating
• Financing
• Investing
• Not Applicable