Statement of Changes in Equity

You can also choose to show the Statement of Changes in Equity. This option is only available for the 9-column financial statement format. This can be used when the entity structure is set to Limited Company and the Statement of Retained Earnings is set to show as a separate statement. Then use the Statement format dropdown to change the RE statement to Statement of Changes in Equity. The Statement of Changes in Equity is largely manual although it does link to the opening/closing balances for some of the items, e.g. Retained Earnings and Share Capital. The Statement of Changes in Equity needs to be manually reconciled.

Number Name Description

Statement format

Use the popup menu to change the Statement of Retained Earnings to the Statement of Changes in Equity format.

Statement settings

The statement settings provide additional options for the Balance Sheet.

  • Statement title: Use the popup menu to choose an alternative statement name or manually enter the name in the input field. The statement name changes depending on the type of structure selected in the Client Profile section of the Home Menu.

  • Page size: The page size and page orientation is set depending on the number of columns selected. The following restrictions exist for printing the Balance Sheet:

    • The maximum number of columns available for Letter / Landscape is 6

    • The maximum number of columns available for Legal / Landscape is 9

    • The maximum number of columns available for Letter / Portrait is 4

  • Comparatives: Choose to show or hide the comparative year table.

  • Single spacing: You can also set this statement to have single or double spacing.

  • Roll forward Statement of Changes in Equity: Balances linked to the trial balance will roll forward to the current year table when the client file is rolled forward. Manually entered amounts can be rolled forward to the correct year by clicking on this button. When the client file is rolled forward, only amounts linked to the trial balance will be rolled into the correct table. Any manually entered lines will not be rolled forward. This needs to be manually rolled forward. Use the Roll forward the Statement of Changes in Equity button to roll the manual lines forward. This will move the lines from the current year table (at the bottom) the prior year table (at the top).

    Note: This action cannot be reversed so make sure that you only do this once the client file has been rolled forward using the Engagement > Year-End Close function.

Heading formatting

The headings for the Statement of Changes in Equity can be formatted. Refer to Statement Section Headings Formatting for more information on the options available.

Columns

Click on the folder icon to show the column settings.

  • Click on the checkboxes above each column to print or skip selected columns.

  • Use the checkboxes to the left of each heading row to skip or print the headings. You can manually enter your own column descriptions into the input cells.

  • You have the ability to link some of the columns to a mapping number. This will bring in the opening and closing balances from the trial balance. Some mapping numbers are hardcoded and cannot be changed.

Columns headings

Use the checkboxes to the left of each heading line to skip or print the headings. Select the heading option you'd like to print using the popup menus.

Columns diagnostic

A red cross indicates that the specified column does not agree to the prior year closing. This means that the column should be reconciled back to the closing balance of the prior year, either manually or by posting the appropriate journal entries.

Express menu

Use the Express menu to insert more manual lines, sort or delete existing line. You can also insert your own subtotal and subheadings.

Diagnostic warning

The diagnostic warning will also appear at the bottom of the statement if the columns have not been reconciled back to the trial balance.