Statement of Change in Financial Position

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The Statement of Change in Financial Position is printed from the funds statement file in the financial statement format files. As with the Balance Sheet and the income statements, you must design and build the format files before you can print these statements.

This statement of changes in financial position will print net changes in the balance sheet accounts. You do not have to intervene when the statement is printed, but in many instances your statement will not be a true representation of what has happened. For example, if you have a notes payable account coded to print under a heading on your statement called Reduction of Long-Term Debt, the statement will be accurate as long as only payments are made on this account. If you ever borrow additional amounts, the system will not be able to distinguish between the payments and the additional loans. Statement of Changes in Financial Position on the Print Financial Statement menu will allow you to make changes to the statement as it is being printed. If net changes in account balances are not acceptable, you might wish to use the option that allows you to make changes.

In order for these statements of changes in financial position to print, you must have the prior year year-end balances in each General Ledger balance sheet account. The system uses the net change in each account balance for the year in printing these statements.