Selected Elements of the Financial Statements
Balance sheet and profit and loss statement (income statement) are the financial reports that are required under Polish law. The structures of the balance sheet and profit and loss statement are strictly defined by the Accounting Act and must be implemented into business applications in accordance with the templates published by the Ministry od Finance. The standard functionality of Business Central provides tools for preparation of the balance sheet and profit and loss statement, including such application features as G/L Account Categories, Account Subcategories and Financial Reports. Business Central offers extensions that facilitate the preparation of these reports in accordance with Polish regulations. The extension features include:
automatic generation of the components and entries of the balance sheet and profit and loss statement (comparative variant) on the G/L Account Categories page when a dedicated assisted setup action is run in Business Central;
new options to specify the calculation source for G/L Account categories;
improved process for changing the sequence of accounts in G/L account categories;
streamlined generation of financial reports based on G/L account categories.
To | See |
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Find out how to generate components and entries in the balance sheet and profit and loss statement/income statement | Account Categories |
Create a balance sheet based on a financial report | Balance Sheet |
Create a profit and loss statement based on a financial report | Profit and Loss Statement |