Hello again ACCOUNTS advisors and beta testers.
We have had some requests for a General Ledger details report in ACCOUNTS, usually at the request of user organizations’ accountants. Unfortunately, based on research, that appears to not be a completely standardized concept. We have received varying details of this request in the emails we have received from users, and web searching about General Ledger reports also yields varying details.
My best guess is that it should be something that shows the detailed transactions in all accounts (of all types – Asset, Liability, Fund, Income and Expense) with either starting and ending balances, or running balances. That would be for an “as of” date, showing data from the last fiscal year start to that date (like the Trial Balance report).
It’s a bit tricky to see what do with funds, which as I trust you are aware can have both explicit transactions (ones where the fund account is actually used in the transaction, like say an inter-fund transfer) and implicit transactions (ones involving income or expense accounts linked to that fund account).
Since this is being requested by accountants, I think the balances in it should most likely match the existing report for accountants, which is the Trial Balance. If you look at the description of that report in the Help or the Report Browser, you will see the following:
On this report … Fund/Equity balances include direct transactions on their accounts up to the “as of” date, plus the implicit balance changes from transactions on linked income and expense accounts up to the end of the previous fiscal year; and Income and Expense totals are for the fiscal year, up through the “as of” date.
Does it make sense to you that we do essentially the same thing then for the General Ledger report? Show the starting balance based on both explicit and implicit transactions on the fund up to the starting date, then show only any explicit transactions on the fund during the reporting period.
I’m thinking that the formatting of the report would be basically like the Report -> Details -> One Account Details report, but for all accounts, with no splits shown, and with opening and closing balances. (Opening balances for income and expense accounts will always show as $0.)
Please send any thoughts or comments on this to us directly by email, or as direct comments on the blog. Thank you.
– Dan Cooperstock, firstname.lastname@example.org