Balancesheet report shows the data for the ‘as of’ specification at the footer of the page.Client need the balance sheet data for specified period monthwise.
Solution:We can customize the standard balance sheet report.
1.Alternative period range Type=Relative to report date
2.Check mark on cumulative value
3.Alternative period range=This fiscal year
4.Range segment=Accounting period
Save.The report will display the balance sheet for each of the year’s accounting periods, as defined in the footer of the report. (Note that there is no significance in the month of the year we chose in the As of date ,the significance only on year.)For example, if we select any month of the year on the footer (even if Feb 2021 or Sep 2021, etc.), a month by month report for the year 2021 will be displayed ( from Jan 2021 to Dec 2021).
The only amount diff from the standard report is of Cumulative Translation Adjustment(Note: Net amount on the Translation Adjustment column in a customized Consolidated Balance Sheet will not be the same with the Cumulative Translation Adjustment balance found under the Amount column when there are manual postings against the Cumulative Translation Adjustment account. Manual postings to the account will not be reflected on the translation adjustment column.)