Build Financial Statements from raw GL extract

[Viet]

Hi all,

I need to build financial statements from raw data GL extract. I basically need to build managerial statements and only have GL data to start with. I have attached the sample file for your references. Would be great if you could help!

Thanks,
Vince

 

[Viet]

Somehow I can't attached the sample file. Please let me know how to attached it here. Thanks a ton.

 

[bklynboy]

Nothing attached. Generally the account structure lends itself to base financial statements so should be relatively easy to just spit one out.

 

[Viet]

Nothing attached. Generally the account structure lends itself to base financial statements so should be relatively easy to just spit one out.

I was not able to attach the GL excel for some reasons, the file is only 172kb.

I think the issue I'm having is pulling the correct Balance by month for each GL. Just wondering if there is a right way to do that. Do you know any other way to share the file?

Thanks!

 

[Viet]

In term of the correct approach, do you convert the GL data into a TB data before building the Financial Statement? Or its it better to just use the GL data?

Thanks

 

[kirby]

Does your download consist of the month-end g/l accounts and their month-end balances or all the transactions for the month or what? The G/L itself should have a set of standard reports such as trial balance, month end balance sheet and income statement.

 

[Viet]

Yes the GL export has month end amount in one column and running balance on the other. I do have full P&L in a different format, but I would like to learn the process of creating an excel version of the PL and BS from the exported GL. Without having the TB, is it best to recreate the TB from the GL extract before building the statements? is it even possible to do in excel without having an add-on?

thanks for your help, kirby,
Vince

 

[kirby]

Your download shows the detail debits and credits for the cash acct 10100 for January 2015 and part of February 2015. If you wished to use this type of data to create a BS in Excel for say Jan 2015 you would have to download all data from inception of the company thru Jan 2015 then sum the debits and the credits to arrive at the Jan 2015 balance for acct 10100 of 36,296.21, which the GL already has calculated.

However, the typical method is to obtain a download of the Jan 2015 ending balances by acct. That would show one line item for acct 10100 as having a balance of 36,296.21

The GL already contains all the detail debits and credits so why do you wish to duplicate all that data in Excel?