Eight Guidelines for Successfully Creating a Financial Statement Generator (FSG) Report

Share on facebook
Share on twitter
Share on linkedin
Share on email


Financial Statement Generators (FSG) are powerful tools that can be used to produce a variety of traditional reports such as balance sheets, profit and loss statements, income statements, expense analyses and gross margin reports. Here are eight guidelines will help you get started with making a useful report.

  1. Make a Master Row Set – Create a row set which has all the accounts in the chart of accounts. For all reports, copy this set and delete the individual rows which aren’t needed.
  2. Provide Unique Names – Each report component should have distinctive names.
  3. Be Specific – The row sets being copied from the row master should each be given descriptive names.
  4. Know the Report Layout – The first three lines of the report are “Ledger” or “Set of Books Name,” followed by “Title” under which is “Period” (run-time of the report). The date comes on the top left, and additional title lines can be typed into the “Column Set Heading” field.
  5. Draw an Excel Spreadsheet for Each Report – This is done to map similarities between reports and to determine standard characteristics for the rows.
  6. Assign Sequence Numbers to Rows – Do this to reflect the accounts in the row, and use the same number of digits as the number of accounts in the row.
  7. Make Sure Sequence Numbers Reflect Types of Row – Map out rules where the first/last numbers in the sequence define whether they are header rows, asset rows, subtotals, etc. Set comprehensive Value Descriptions.
  8. Autocopy Completed Row Sets – Autocopy all report components (row sets, column sets, content sets, row orders, reports, and report sets) and make necessary modifications in each of the different reports.

Leave a Reply

Your email address will not be published.

The Roadmap to Synergy

Companies evolve. While everyone’s story is unique—growth from regional to national or international, mergers and acquisitions, diversification of business lines and product offerings, and disparate regulatory environments—many of these business...

Read More

Preparing for Tomorrow’s Market

Preparing for Tomorrow’s Market There are few constants in this world. The way in which a company does business is not one of them. Instead, companies must actively adapt to...

Read More

Mergers & Acquisitions: Realizing the Value

Mergers and acquisitions carry the added weight of introducing redundant systems that duplicate functionality. Learn how to overcome the value gap to take advantage of emergent synergies by aligning your...

Read More