Income Expense Menu
Quarter by Quarter Financial Summary
The premise behind calculating quarterly financial summaries is that you are getting year-to-date financial statements on a quarterly basis from your borrowers, but you are not necessarily getting quarterly financial statements. For example, you are getting a year-to-date financial statement for the first quarter as of March 31, and year-to-date financial statement as of June 30; but, your bank wants to track financial statements on a quarterly basis. The Quarter by Quarter financial summary is a way to back into the second quarter financial statement.
On the Quarter by Quarter financial summary screen, you can use addition and subtraction of year-to-date financial statements to calculate another quarterly financial statement, such as in the following example:
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Q2 2007 (+) Statement added to Q1 2007 (-) Statement = Q4 2007
To open the Quarter by Quarter financial summary screen, click the Inc/Exp menu, point to Quarter by Quarter, and click the quarterly financial summary you want to calculate. Upon opening the Quarter by Quarter financial summary screen, two columns appear. You can add up to 10 additional columns. For each column, you can select a financial statement from the Income/Expense Add/Modify/Delete screen.
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Note: Any changes you make to the income/expense statement flow to the quarterly financial summary after you save it. The quarterly financial statement you calculated and the total column are updated.
- Non-Financial Chart of Accounts are not included in the calculations for the Quarter by Quarter Financial Summary.
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Quarter by Quarter Add/Modify/Delete Screen
On the Quarter by Quarter Add/Modify/Delete screen, you can define time periods for quarterly financial statements that can be used to calculate the totals for a quarterly financial statement. Each financial statement from the Add/Modify/Delete screen can only be selected once per quarter financial summary.
The following example describes how to calculate a financial statement for the second quarter 2007:
Define the time period in the Beg. and End. Date fields.
Type a description for the financial statements in the Description field.
Click Add.
Repeat above steps for each additional statement.
Click View on the Q2 2007 Stmt line.
On the Quarter by Quarter summary screen, click None in the first column.
On the Select Date dialog box, select the Q2 2007 Cumulative statement.
Ensure that the plus (+) sign appears in the first column.
On the Quarter by Quarter summary screen, click None in the second column. On the Select Date dialog box, select the Q1 2007 Stmt.
Ensure that the minus (-) sign appears in the second column.
The numbers in the columns tally across to calculate the Q2 2007 financial statement for the second quarter.
You cannot make edits on this screen, except select the financial statements and have them added or subtracted. Make changes to the financial statements on the Income/Expense Trends screen or go to the individual Income/Expense summary.
Quarter by Quarter Report
Financial statements from the Quarter by Quarter screen are selectable on the Reports Setup screen. You can print a report of the calculated quarterly spreads. (Reports > Income Expense > Quarter by Quarter)
Calculating Ratios
You cannot get ratios off the Quarter by Quarter summary screen. You must enter the financial statements into the Reports Setup screen and run the Ratio Indicator report.