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Configuring the Statement of Net Position

You can specify options that control the display of the Balance Sheet (or Statement of Financial Position) area of the financial statements. Options not defined here are included in Configuring common options.

Fundamental Topics

Selecting the balance sheet presentation method

Financials enables you to specify the presentation format of the statement, such as classified or unclassified.

Procedure
  1. Click in the Statement of Net Position area.
  2. Select the Statement of Net Position tab and in the Presentation group, select the net position presentation method to be used.
Results

The balance sheet uses the selected presentation method.

Note: If you change the presentation method after you have started preparing the financial statements, a new format will be inserted and any customization you have added to the balance sheet will be lost.

Configuring Display Options

Procedure
  1. Click in the Statement of Net Position area.
  2. Select the Statement of Net Position tab and in the Presentation group, click .
  3. Select from the applicable options:
  4. Option Description
    Liabilities and Equity Area Select to displays the total of current and long-term liabilities total and equity together.
    Total Liabilities Select to display the total and current and long term liabilities before equity.
    Page Break Select to make the statement of net position to be two pages, with assets on the first page and liabilities and equity on the second page. The appropriate headers and footers will be applied to the second page and the Table of Contents will update properly to reflect the two pages if multiple page entry has been enabled.
    Note Reference Select to display note references in the statement of net position.
    Additional Note Area

    Select to add an additional note area which displays the following three rows with note references:

    • Contingent liabilities
    • Subsequent events
    • Going concern

    In the additional note area drop-down, select from the following options:

    None - Do not display the additional note area. This is the default.

    Before Total Liabilities and Equity- Display the additional note area before the Total Liabilities and Equity row.

    After Total Liabilities and Equity- Display the additional note area after the Total Liabilities and Equity row.
Results

Statement of Net Position display options have been set.

Adding and Specifying the Approval Text in the Signature

You can add a maximum of two lines to the bottom of the Balance Sheet statement area for signatures. If you have added signature lines to the balance sheet, you can specify the title to be displayed above the signature section.

Procedure
  1. Click in the Statement of Net Position area, and select the Balance Sheet tab, and in the Sign- off group, select the number of signature lines to add from the Signatures drop-down.

  2. In the Approved drop-down, select or type the approval text.

Results

The signature lines with the approval text have been added to the statement area.

Configuring the Statement of Net Position | Caseware Docs