Open Forum

New to using statistical accounts

  • 1.  New to using statistical accounts

    Posted Jan 21, 2019 06:37 PM
    I would like to use statistical accounts to process some internal allocations to various projects within our system, as I do not want them to impact the financial reporting.  That being said, I've set up a STAT ledger and a BUDGET-STAT ledger.  I know the process for setting up a new account, but how do you set up a statistical account?  Is it the same?  How is this "flagged" as statistical?  Also - how do you do a journal entry to a STAT account?  I think I understand how to pull the data into reporting, but outside of that, I'm struggling.

    Thanks in advance!

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    Andrea Williams
    Collegis Education
    Oak Brook IL
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    Academy - Online Interactive Learning from Experts


  • 2.  RE: New to using statistical accounts

    GOLD CONTRIBUTOR
    Posted Jan 21, 2019 08:12 PM
    You don't need to create "statistical accounts;" you can use any accounts with any ledger. I recommend using existing accounts/subaccounts with statistical ledgers. I like to use the same accounts/subaccounts for the statistical numbers that you will use them with on the financial reports. E.g., if you want to show revenue per employee (or customer served, etc.), use the revenue accounts/subaccounts that have the balances that will be prorated by the statistic.

    A ledger that is created with a Balance Type of Statistical can only be maintained within Dynamics SL by creating GL Journal Entry batches using the statistical Ledger ID. (The Budget Maintenance screen can only be used with Budget ledgers.)

    XLstatements has a Budget option that lets one maintain statistical (and budget) ledgers within Excel and updates Dynamics SL with one click.

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    Jonathan Van Houtte
    Architect
    XLstatements, LLC
    Clifton Park NY
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    Academy - Online Interactive Learning from Experts


  • 3.  RE: New to using statistical accounts

    TOP CONTRIBUTOR
    Posted Jan 22, 2019 08:24 AM
    Hi Andrea,

    To change to a STAT ledger in a JE, just change the ledger ID to whichever ledger you would like....you can use the exact same account/subaccounts.

    For reporting like in MR, you will just change the ledger as well to pull the correct numbers.

    FYI - your trial balance will pull all ledgers when run.  I have setup templates for us that prints only actual ledger and can print our statistical ledger (we enter hours for doing allocations).

    Hope this helps...

    Thanks,
    Michael




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    Michael O'Neill
    Controller
    Eastex Telephone Cooperative
    Henderson TX
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    Academy - Online Interactive Learning from Experts


  • 4.  RE: New to using statistical accounts

    Posted Jan 22, 2019 09:07 AM
    Andrea,

    The process for setting up an account for use in the statistical ledger is the exact same as for any other ledger (such as budget or actuals).

    Any account you create can be used with any ledger you're running.

    You just want to ensure that in your entry screens, such as journal transactions, you select the appropriate ledger you would like to impact with the entry.

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    Ryan Belcher
    Accounting Manager - Client Reporting
    Timberland Investment Resources
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    Academy - Online Interactive Learning from Experts


  • 5.  RE: New to using statistical accounts

    SILVER CONTRIBUTOR
    Posted Jun 05, 2020 03:58 PM
    Do balances for stat accounts to a STAT ledger id have to be balanced entries? Does year-end closing effect STAT ledger balances? I'm trying to track acres of land and never want the balances to zero out from one year to the next.
    Thanks.

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    Noah Moseley; MSX Group Senior Consultant
    Academy Instructor for Management Reporter
    noah.moseley@msxgroup.com
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    Academy - Online Interactive Learning from Experts


  • 6.  RE: New to using statistical accounts

    GOLD CONTRIBUTOR
    Posted Jun 05, 2020 04:28 PM
    If you check the Balancing Required box for the ledger on the Ledger Maintenance (01.310.00) screen, then the Journal Entry screen will require batches for that ledger to be balanced.

    Year-end closing does not bring the last period's balance into the next fiscal year's beginning balance for statistical (or budget) ledgers.

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    Jonathan Van Houtte
    Architect
    XLstatements, LLC
    Clifton Park NY
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    Academy - Online Interactive Learning from Experts


  • 7.  RE: New to using statistical accounts

    Posted Jun 05, 2020 04:29 PM

    Noah,

    In the ledger maintenance screen there's a column titled "balance type" that defines the balance type. There's an additional column titled "balancing required" that sets whether entries need to be balanced. Traditionally a statistical ledger would not be balanced as that would require offsetting entries for a statistical measure. You can double check the setup and whether or not balancing is required for the ledger in question in the ledger maintenance screen.

    In terms of tracking acreage the inventory module would likely be better suited for the task than statistical ledgers and would be where I would start thinking about establishing those balances. It would allow for quantity and costing tracking in a more streamlined manner than booking statistical ledger entries would.



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    Ryan Belcher
    Accounting Manager - Client Reporting
    Timberland Investment Resources
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    Academy - Online Interactive Learning from Experts