- Statistical Accounts
The Statistical Accounts feature, part of the Advanced Financial module, enables our financial team to track non-monetary data and then use that information on reports and income statements. Financial users can then examine its relationship with the financial activity of our organization.
Users who would find this feature valuable include those responsible for accounting maintenance and period close activities, journal entries, cost and revenue allocation, and financial reporting using ratios such as EPS (Earnings per Share).
Enable Statistical Accounts feature by going to Setup > Company > Setup Tasks > Enable Features > Accounting under Advanced Features.
The Multiple Unit of Measure feature is a requirement for using the Statistical Accounts feature. If it is not enabled, the system automatically enables the feature.
After we enable the feature we can create statistical accounts and make statistic journal entries. We can manually update an absolute statistical account balance through an Absolute Balance Update Offset Journal. We can also create statistical schedules to autogenerate statistical journal entries based on saved searches.
The Statistical Accounts feature cannot be disabled after it has been used. If our system does not contain statistical accounts, statistical journal entries, or statistical schedules, we can disable the feature. The system does not automatically disable the Multiple Unit of Measure feature when we disable the Statistical Accounts feature.