Maintaining YTD settings

Axiom processes as part of loading the GL reporting table. The Maintain YTD Earning Settings sub-tabserves two primary purposes:

  • Calculates retained earning using data in the GLTrialBalance table, and saves retained earnings to the target GL reporting table as an addition to equity.

  • Alerts system administrators to the following conditions:
    • The end of month (EOM) balance is out of balance.
    • The average balance sheet is out of balance.
    • The YTD net income does not equal the sum of EOM data type income statement account records.

To maintain YTD earnings settings:

  1. On the Manage Data tab, click the Maintain YTD Earning Settings sub-tab.

  2. For a setting, click Edit in the Edit Settings column.

  3. In the Edit Company dialog, complete the following fields, and click OK:

      Description
    Balancing Threshold Define the absolute dollar amount tolerance threshold for balance sheet out-of-balance alerts. The system alerts the Axiom system administrator when the absolute value of Total Assets - Total Liabilities + Equity exceeds the dollar amount in this setting.
    End of Month Balance

    Do one of the following:

    • To calculate period ending retained earnings using income statement records, select YTD Income Statement Records - DTYPE = EOM. Only enable this option if your organization can provide YTD ending balances for income statement accounts. This selection is used when the DTYPE dimension includes EOM.

    • To calculate period ending retained earnings for each month by summing YTD income statement balance, select Monthly income statements records - DTYPE = MTD. This selection is used when the DTYPE dimension includes MTD.
    Average Balance

    Do one of the following:

    • To calculate the YTD net earnings using the difference between assets minus liabilities and equity, select Assets Minus Liabilities and Equity.

    • To calculate period average retained earnings using income statement records provided by your organization, select YTD income statement records - DTYPE = AVG. Only enable this option if your organization can provide YTD average balances for income statement accounts. This selection is used when the DTYPE dimension includes AVG.
    Calculate Net Income

    Do one of the following:

    • To calculate the net income, select the checkbox.
    • If the net income is passed into the system by way of the GL, leave the checkbox blank.