In D365 Business Central there is no pre-defined Balance sheet/Income statement, because all these accounting statements can be viewed using Account Schedules.
So, in this blog let’s see how we can create new Balance Sheet and how can we check the reports of Balance Sheet.
1. Search for “Account Schedules”
2. Now, go to Balance sheet line, then select “Process” function and then select “Edit Account Schedule”
3. By selecting “Edit Account Schedule” this will open the following page
4. Now, select “Insert” function and then select the “Insert G/L Accounts”.
5. By selecting “Insert G/L accounts” function the following page will open.
6. Now, right click the three dot options as shown and then select the “select more” option.
7. Now, select all the Assets, Liabilities and Equity accounts to create a new balance sheet.
8. When you click “OK” all the accounts will get added to the accounts schedules as shown below in the picture.
9. Now, use the G/L accounts specified in the account schedules to post transactions. Later, when you want to create a report of the G/L accounts used in the balance sheet we can do so with the following steps.
10. Click on “Report” functions and choose the option to “Print” as shown below.
11. The following page will open, where you have options as follows:
a. Send to
12. The report is generated as shown below:
13. In the reports we can check the transactions with the dimensions assigned to the respective G/L accounts. Once, we choose the option to view the reports, we get options to select the dimensions and view the balance sheet report. In the picture below, we have one dimension as “Trader” and “Dan” is the assigned dimension value. Now, click on preview.
14. Below is the picture with the dimensions as displayed on the 2 G/L accounts. The values on the G/L accounts as seen in the picture are only for the dimension entries. Which means, the transactions with dimensions, are only viewed in the report.