GOAL-The Statement of Cash Flow “Cash at End of Period” should agree with the Statement of Financial Position cash accounts categorized as “Cash and Cash Equivalents”
There are 3 things you need to set up She Statement of Cash Flow:
- Assign Cash Flow Categories
- Statement of Financial Position report
- Statement of Cash Flow report
How do I set up the categories for the Cash Flow Statement?
Go to Setup, Assign Cash Flow Categories (one of the last options)
In the Cash Flow Category field, click the down arrow and click into the field. Then, backspace in order to get the pull down list for the categories you want to assign. Select the pertinent category.
How do I identify the accounts the report uses?
The system knows which accounts need to be in the setup screen (assets & liability accounts)
If the Statement does not balance:
- Verify that the cash and cash equivalents accounts identified in the Setup for Cash Flow Categories are the same accounts you are comparing to on the Statement of Financial Position.
- Verify that you have the correct categories defined in Setup, Account Cash Flow Categories.