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Adding Financial Statements

Procedure

 

Before adding the first financial statement, you must specify the financial format for the customer in the Analysis Setup section of the Basic screen. You can add up to three financial statements at one time.

You can use customized formats if they are included as part of your implementation, or US Long which is the default format available to all subscribers.  

Important:  Once you have entered a financial statement for a customer, you cannot change the format for that customer. However, if you use a customized format, you can view the statements in that format or in the US Long format.

"What If' analysis enables you to enter projections for the customer and click Calculate to have eCredit calculate totals, ratios and percentages without saving the entries to the database. You can then export or print these projections before entering the values you want to save to the database.

To add financial statements:

  1. Select the customer. How?

  2. Select the Financial Analysis tab.
    The Financials screen appears.

  3. Click Add.
    The Financial Details screen displays three columns for entering financial statements.

  4. To display a prior statement to use as a guide when entering the new statement, select the statement from the Select Prior Statement list. The Select Prior Statement list includes all statements entered for the customer.
    The selected statement appears in the Prior Statement column.

  5. To hide columns while entering the statement, select the check box at the top of the column and click Hide. You can use this to hide the Suffix and % columns.

  6. Enter values for the overview information and for line items.
    To use the built-in calculator:

    1. Click the calculator icon next to the line item you are entering.

    2. Click the numbers and operators for the calculation, or use the numeric keyboard on your computer to make your entries.
      When you click or press the equal sign (=) the total is automatically entered in the line item.

    3. When you are done use the X button to close the calculator.

Notes:

    • If you select Check Balance Sheet, when you save the statement, eCredit validates that the balance sheet entry for Total Assets equals the sum of the entries for Total Liabilities and Owner's Equity.

    • You can disable the calculation of summary line items for downloaded abridged financial statements by clearing the selection from Calculate Summary Line Items.

    • If a financial statement does not include both a balance sheet and income statement, clear the selection from Financial Completed. When Financial Completed is cleared, eCredit does not calculate ratios and cash flow for the statement. Without both a balance sheet and an income statement, these calculations would be inaccurate.

    • To do 'What If' analysis, enter your projections and click Calculate. eCredit calculates totals, ratios, and percentages without saving the entries to the database. You can then export and print these projections before entering the values you want to save to the database.

  1. Click Save to save your entries.
    eCredit calculates the totals, ratios, and percentages.

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