Cash Flow Report
Description
The Cash Flow Report is a standard accounting report that shows the changes in cash balances from the beginning of the current fiscal year till the end date of the report. It also shows the changes in cash balances from the beginning of the current accounting period through the selected end date of the report.
You can access the updated cash flow report by selecting Reports >Standard> General Ledger > Cash Flow.
In response to customer feedback, the following enhancements were made to optimize the cash flow report's utility and accuracy:
1. Removed the Cash Accounts Section for a more streamlined and less confusing report.
2. Reversed Income Sources Representation: Income sources such as member dues, special assessments, and other revenue streams now display positive values, consistent with standard accounting practices.
3. Using the Beginning Balance from the Balance Sheet: The beginning cash balance for each reporting period is now sourced from the ending balance of the previous month's balance sheet, ensuring accuracy and consistency.
4. Matched Net Profit/Loss from Operations with the Income Statement: The Net profit/loss from operations displayed in the cash flow report is aligned with the corresponding value in the income statement, ensuring coherence between financial statements.
5. Included Accumulated Depreciation/Amortization: The report now includes accumulated depreciation/amortization, providing a comprehensive view of operating expenses and asset valuation adjustments.
6. Displayed Balance from Operations: The balance from operations is now included in the report, aiding in assessing operational performance.
7. Calculated Net Increase/Decrease in Cash: The report now calculates the net increase or decrease in cash, providing insights into liquidity and cash management effectiveness.
8. Ensured Consistency with Ending Balance in Balance Sheet: The cash flow report now concludes with the cash ending balance, aligned with the ending balance reflected in the balance sheet for the respective period, ensuring reconciliation of financial statements.
Chart of Accounts Setup
In order to generate a proper Cash Flow Report, the GL Chart of Accounts must have the Cash Flow Types field completed correctly.
Every Balance Sheet Account must have a Cash Flow Type defined in order to generate the Cash Flow Report. Select from these Balance Sheet Account Types:
Assets
- Cash (all cash accounts including checking, savings, money markets, CD’s, etc.)
- Receivables (Money owed to the community but not yet received)
- Other Current Assets (Notes Receivable due to the community in 1 year or less and all other assets that doesn’t clearly fall into another category)
- Fixed Assets (Equipment; Furniture & Fixtures, etc.)
- Accumulated Depreciation – on the Fixed Assets above, if any
- Other Long-term Assets (Notes Payable due to the community beyond 1 year, etc)
Liabilities
- Current Liabilities (Accrued AP like unpaid invoices, Prepaid Owner Assessments, etc)
- Notes Payable (money owed by the community by a Promissory Note or loan due in 1 year or less)
- Long Term Liabilities (money owed by the community over 1 year such as a mortgage or loan)
Equity
- Equity (any Balance Sheet account in the Equity range except for Reserves)
- Reserves (any GL account that is part of the Reserve Funds)
- Income (should be pre-coded for you but if the Cash Flow Type is missing you must fill it in)
- Expenses (should be pre-coded for you but if the Cash Flow Type is missing you must fill it in)
Once the Chart of Accounts contains all the correct Cash Flow Types you are ready to generate a Cash Flow Report.
Generating the Report
The Cash Flow Report can be generated for any accounting period within the current fiscal year. It is a standard report located in the GL Reports area of the Reports menu.
Month End Date
Defaults to the end of the current accounting period. You can generate the report for any period within the current fiscal year.
Export Formats
You have these options when generating the Cash Flow Report:
- Excel (XLSX)
- Exce (XLS)
- Word
The default export option is PDF to either print or email this report.
Export Button
Click to proceed with the selected Export Format.
Apply Button
Applies the report options you selected if you changed any of the defaults.