AM-E  Format Standard Financial Statements

Purpose of Program

You must use this program before you print your financial statements.  However, if you are formatting your own custom financial statements in AM-I  Format Custom Financial Statements you may wish to use those statements and skip these entirely.  You may also start with this type of statement and change to the custom version in the future.

The major differences between these statement formats is that this version is pre-formatted, while with the custom statement version you can specify more account sub-divisions or non-sequential groups of accounts in your statements.  These statements itemize all GL accounts, while with the custom statement you can consolidate several accounts into one total.  If you want to have a summary statement followed by supporting detail statements, use AM-I  Format Custom Financial Statements.

In this program, you specify the headings and account ranges to print for the following three standard report formats:

Income Statement (Profit & Loss)

Balance Sheet

Statements of Changes in Financial Position (Cash Flow)

Field Explanations

Which Type of Financial Statements?

Enter the type of report here: I - Income Statement (profit and loss), B -  Balance Sheet (assets, liabilities, and owner's equity at a  point in time), C -  Cash Flow (sources of funding acquired and disposition of funds over time).

Income Statement

The field explanations for the income statement format are shown below.  The operation of this program will be presented as a consolidated explanation of all three statement formats after the three format screens are described.

Report Title

The general title for the income statement.  This title will be printed at the top of the statement.  This is a 25 character alphanumeric field.

G/L From/Thru

The starting and ending GL account codes for each GL division or sub-group (Income, COGS, Expenses, and Other).  These fields specify which accounts are to be printed for each division in the statement.

INCOME STATEMENT DIVISIONS

Each title is a 25 character alphanumeric field.  Choose a title that accurately identifies the accounts included in the sub-group ranges.

Income Main Title

The income accounts division title.

Income 1, 2

The income accounts sub-groups you want included in your statement (account code ranges and titles).

COGS Main Title

The cost of goods sold accounts division title.

COGS 1, 2

The cost of goods sold sub-groups (account code ranges and titles).

Expenses Main Title

The expense accounts division title.

Expenses, 1, 2, 3, 4

The expense accounts sub-groups (account code ranges and titles).

Other Inc

The other income division (account code range and title).

Other Exp

The other expense division (account code range and title).

Balance Sheet

The field explanations for the balance sheet format are shown below.  The operation of this program is presented as a consolidated explanation of all three statement formats after the three format screens are described.

Report Title

The general title for the balance statement.  This title will be printed at the top of the statement.  This is a 25 character alphanumeric field.

G/L From/Thru

The starting and ending GL account codes for each division or sub-group (assets, liabilities, and owner's equity).  The fields specify which accounts are to be printed for each division in the statement.

BALANCE SHEET DIVISIONS

Each title is a 25 character alphanumeric field.  Choose a title that accurately identifies the accounts included in the sub-group ranges.

Assets Main Title

The assets accounts division title.

Assets 1, 2, 3, 4

The assets accounts sub-groups (account code ranges and titles).

Liabilities Main Title

The liabilities accounts division title.

Liabilities 1, 2, 3, 4

The liabilities accounts sub-groups (account code ranges and titles).

Owners Equity Main Title

The owners equity accounts division title.

OE 1, 2

The owners equity accounts sub-groups (account code ranges and titles).

Statement of Changes in Financial Position (Cash Flow)

Report Title

The general title for the cash flow statement.  This title will be printed at the top of the statement.  This is a 25 character alphanumeric field.

G/L From/Thru

The starting and ending GL account codes for each division or sub-group (net income, non-cash expenses, assets, and liabilities).  These fields specify which accounts are to be printed for each division in the statement.

CASH FLOW STATEMENT DIVISIONS

Each title is a 25 character alphanumeric field.  Choose a title that accurately identifies the accounts included in the sub-group ranges.

Net Income

The net income accounts division title.

Non-Cash Exp

Non-cash expense accounts division title.

Assets Main Title

The assets accounts division title.

Assets 1, 2, 3, 4

The assets accounts sub-groups (account code ranges and titles to be subtotaled)

Liabilities Main Title

The liabilities accounts division title.

Liabilities 1, 2, 3, 4

The liabilities accounts sub-groups (account code ranges and titles to be subtotaled).

General Program Operation

When you run this program, you first need to choose the type of financial statement you want to set up for printing (boldface indicates menu selection letters):

Income Statement (profit and loss)

Balance Sheet (assets, liabilities, and owner's equity at a point in time)

Cash Flow (sources of funding acquired and disposition of funds over a specified period)

The system uses a standardized financial statement format; you only need to enter the account code ranges for the accounts you want to include, and titles for the statement headings.

Enter a main title for each major division.  Often the divisions are partitioned further into sub-groups, for subtotals within the major total.

For example, if you have two completely different types of sales, such as power tools and laundry equipment, you may want to get not only a total sales figure, but also a subtotal for each group.

To specify your sub-groups as in the example mentioned above, enter the beginning power tool account code in Income 1 G/L From, and the ending power tool account code in Income 1 G/L Thru. You might want to make the Title for Income 1 Power Tool Sales   Then do the same for the laundry equipment using the Income 2 sub-group.  When you print the financial statements the program will print all the power tool sales accounts, with a sub-total, the laundry sales accounts, with a subtotal, and then the total for all the income accounts specified.

If you need to find GL account codes, click on the Lookup button (or press F2) while the cursor is on any of the GL account code fields to select from a lookup window.  The program does not check to make sure that the account codes you enter are accurate, so you should double check account codes when you type them in.  Each major account group should have at least one set of entries completed.  When you have entered all necessary information, click on the Save button (or press F10) to save the format.