About Management Accounts

ONESOURCE Accounts Production provides users of certain templates with a format for generating Management Accounts. Managements Accounts can be configured via the Management Accounts Table Settings dialog accessed from the Summary tab.

Posting

ONESOURCE Accounts Production produces Management Accounts by adding together Journals that are dated within a specific date range. For example, to produce a column in a set of quarterly Management Accounts for the year to date to 30 June 20X7, ONESOURCE Accounts Production would add together the first two quarter’s Journals. Therefore, it is important that you ensure that the Year to Date check box is unselected on the Journal dialog. If the Year to Date check box is left selected, the year to date to 30 June 20X7 column in the report will ignore the Journals.

Editing headings

The Cover page and Profit and Loss Account page headers in the Management Accounts report are based on the Column header for column 1 in the Profit and Loss Columns tab in the Management Accounts Table Settings dialog. In order to change these page headers, either override the column 1 Column header in the Profit and Loss Columns tab in the Management Accounts Table Settings dialog, or edit them directly on the face of the report.

The Balance Sheet page header in the Management Accounts report is based on the Column header for column 1 in the Balance Sheet Columns tab in the Management Accounts Table Settings dialog. In order to change the Balance Sheet page header, either override the column 1 Column header in the Balance Sheet Columns tab in the Management Accounts Table Settings dialog, or edit the page header directly on the face of the report.

The Notes to the Financial Statements page header in the Management Accounts report is based on the dates in the Notes tab in the Management Accounts Table Settings dialog. In order to change the Notes to the Financial Statements page header, edit the page header directly on the face of the report.

Editing styles

Each column in the Profit and Loss Account and Balance Sheet can be altered to show a different style.

Budgets

In order to include a Budget column in the Management Accounts report, post the Budget figures as a Journal, but ensure that the Journal is given a specific classification of ‘Budget’.

If this classification does not exist in the Classification drop-down list on the Journal dialog it needs to first be added via the Journal Classifications dialog.

In the Management Accounts report, edit the relevant tables and include or exclude the ‘Budget’ classification from the columns as appropriate.

Any Journals classified as ‘Budget’ will need to be excluded, when preparing the full statutory accounts, in order to avoid including budgeted figures.

Reversing closing stock

Transactions to reverse closing stock from one period to the next will need to be posted in a separate journal and given a special classification in order to prevent them from being included in any year to date columns in the Profit and Loss Account. Additionally, in the Management Accounts report, edit the relevant tables and exclude the closing stock reversal classification from the columns as appropriate.