Almost every company needs to produce financial statements. And almost every finance team dreads it. But why? In our experience, it’s usually because they are difficult to produce, the design is always changing, and there’s always at least one user of the reports that wants ‘a little something different’.
As with most projects, useful financial statements start with good design. Not just what pretty font to use, or GREEN for profit and RED for loss, but a well-designed chart of accounts. If you are a fast-growing company and/or you have acquired other companies along the way, chances are your chart of accounts could use a facelift – or maybe even a complete overhaul. By using Microsoft Dynamics™ GP as your financials with ADD Energy E3® and ADD eStore®, you have the tools you need to complete that update without losing the ability to report on any of your historical data.
Once you have the chart of accounts set up, the next step is using a report writer with the flexibility to design reusable reports. Your Income Statement layout may always look the same, but the Department Managers want one report for each department with a roll up of all departments, while your regional manager may want to see each location side by side in a column format, with the total of the region in the last column. And that doesn’t even include the leadership team who wants to see actual compared to budget, compared to forecast, compared to… And the list goes on.
By using the Management Reporter tool within your Microsoft Dynamics GP system, you can design your reports using Building Blocks – an easy to use tool that allows you to create a report simply by selecting a layout of the data, the columns you want to see, and the segment trees that break it down the way you need it. This not only gives you the ultimate flexibility in report creation, it also gives you the ease of updating one core report block and having all reports connected to that block immediately show that update.
Finally, by running report groups, or setting reports up to generate to an electronic library, users can view or print reports on demand, rather than only at a specified time. And those reports will still have the level of detailed drill down that is appropriate for those users.
ADD Systems has a highly successful, long-term partnership with our preferred Microsoft Dynamics GP partner – Blue Moon Industries. This partnership provides our customers a fully integrated solution that has been developed for the industries serviced by ADD and is exclusively available to ADD Systems customers.