A multi-column balance sheet gives us the ability to compare the account balances for the selected reporting period with the account balances for previous reporting periods and includes columns for the total of all debits and credits posted to each account for the selected reporting period. To create a multi-column balance sheet, we need to modify the default balance sheet report in NetSuite.
To create a multi-column balance sheet report:
Go to Reports > Financial > Balance Sheet
Click Customize to open the Financial Report Builder.
In the Name field, enter a new name for the report, such as Multi-Column Balance Sheet.
Click Edit Columns.
The Report Preview displays the single Amount column from the standard report. This column is automatically selected.
Change the Column Label from Amount to Closing Balance.
Do not remove the original Amount column.
Add a column for the opening balance as follows:
In the Add Fields area, open the Financial folder and select Amount.
Move the new column to the left of the Closing Balance column, and change the Column Label from Amount to Opening Balance.
In the Alternate Period Range Type list, select Relative to report date. Additional options appear below the list.
Check the Cumulative Value box.
In the Alternate Period Range list, select Last Period.
Add a column for the total debits as follows:
In the Add Fields area, open the Financial folder and select Amount (Debit).
Move the new column to the left of the Closing Balance column, and change the Column Label if desired.
In the Alternate Period Range Type list, select Relative to report date. Additional options appear below the list.
Clear the Cumulative Value box.
In the Alternate Period Range list, select This Period.
Add a column for the total credits as follows:
In the Add Fields area, open the Financial folder and select Amount (Credit). This adds a new column to the right of the Closing Balance column.
Move the new column to the left of the Closing Balance column, and change the Column Label if desired.
In the Alternate Period Range Type list, select Relative to report date. Additional options appear below the list.
Clear the Cumulative Value box.
In the Alternate Period Range list, select This Period.
Click Save.
