Create Schedule – A summary of the activity
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This activity allows you to create schedules. Multiple schedules, when grouped together will form a financial statement. A schedule is created for a finance book. A schedule must be unique for the type of the book that is the “Posting Finance Book”, “Posting tax book”, “Main finance book”, “ Main tax book”, or “Consolidation finance book”.
A schedule comprises accounts that can figure under a common heading. Multiple schedules can also be grouped under a schedule. You can also have a combination of accounts and schedules under a schedule. The account codes can be grouped under sub groups and a sequence number can be assigned to it. In the process of grouping account codes and schedules repetition of account codes under the same schedule must be avoided.
Schedules can be classified for usage in a “Balance Sheet”, “Income Statement” or a “Cash Flow Statement”. The account codes that form a part of the schedule must also have the same classification in the corresponding chart of accounts. The schedule classified for usage under a financial statement cannot be used in another financial statement that is a schedule that has been classified as “Balance Sheet“ can be used only in a layout of the same classification.
“Cash and Equivalents” or “Short Term Investments” which figure in a “Balance Sheet”, “Sales of Goods” or “Interest Received” which figure in a “Income Statement” and “Foreign Exchange” which figures in the “Cash Flows Statement” are typical examples of a schedule.
This activity also allows you to view the details of the schedule that is under creation. You can also copy the details of the schedule to another finance book present in the same login organization unit or in a different organization unit. You can also copy details of the schedule to another finance book present in a group company.
Getting familiar with the pages inside
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Create Schedule |
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View Schedule |
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Copy Schedule |
What you can do in this activity
Define a sequence for accounts / schedules to appear in a schedule
Group accounts under a schedule
Group different schedules under a schedule
Group schedules and account codes under a schedule
View the schedule before the final creation
Copy a schedule to another finance book
Schedules can be created for a finance book. The schedule must be unique for the type of the book and the finance book for which it is being created.
Go to “Create Schedule” page.
Enter the necessary information.
Define a sequence for accounts / schedules to appear in a schedule
You can formulate a sequential order in which you want the accounts / schedules to appear in the new schedule. If the sequence number has not been entered manually, the system generates a number sequentially.
Go to “Create Schedule” page.
Enter the sequence number. Leave this field blank if you want the system to generate its own sequence number.
Group accounts under a schedule
You can group account codes into sub groups under a schedule.
Go to “Create Schedule “ page.
Enter all necessary information.
Assign the account codes to a group.
Group different schedules under a schedule
You can group schedules into sub groups under a new schedule.
Go to “Create Schedule “ page.
Enter all necessary information.
Assign the schedules to a group.
Group schedules and account codes under a schedule
You can group schedules and account codes as sub groups. While grouping in this manner, care must be taken to avoid inclusion of account codes that are already part of the other schedules in the group.
For example, while creating schedule S6 you can include schedules S1 and S2 along with accounts A6 and A7. We must take care to ensure that A6 and A7 do not figure under S1 or S2.
Go to “Create Schedule” page.
Enter all necessary information.
Assign schedules and account codes to a group.
View the schedule before the final creation
You can view the details of the schedule while it is being created. This would help you to make the changes if required before the schedule is finally created.
Go to “Create Schedule” page.
Enter all necessary information.
Select the “View Schedule” link to view the schedule details.
Copy a schedule to another finance book
Schedules that have been created in a finance book can be copied to finance books that are available in the same organization unit or in different organization units. You can also copy schedules that are available in one company to a finance book in another company. A new schedule number and a schedule description can be entered for the schedule. This facility allows you to save the redundant time required for creating the schedule in another finance book.
Go to “Copy Schedule” page.
Select the organization unit and the finance book in which the schedule details have to be copied to.