Statistical or Unit accounts can be included in the Chart of Accounts to record and report statistical information such as Headcount. Such accounts should be assigned a numbering convention outside of the normal G/L Account numbering to segregate the accounts and allow for filtering and sorting.

Dimension requirements and defaults can be assigned like any other account.

Setup:

• Accounts beginning with an alpha character will sort to the bottom of the Chart of Accounts and can easily be filtered in or out for reporting.
• Accounts are increased or decreased through journal entries.
• Balance Sheet vs Income Statement type: Create separate statistical account offsets for each account type used. Use an offset account with the same Income/Balance type coding as the statistical account. All balance sheet and income statement accounts, with associated offsets, should net to zero by type.
  • Balance Sheet type: Continues across years and will not close to Retained Earnings year end Close Income Statement process.
  • Income Statement type: Closes to Retained Earnings during the year end Close Income Statement process.

Budget

Statistical Accounts can be included on budgets or assigned their own budget.

Transactions

Transactions can be entered though General Journals (GJ) with the appropriate offset account as a Bal Account.

Optionally, can create a Document No. Series to assign to statistical general journal transactions.

• To reduce errors, advisable to create separate General Journal batches for Balance Sheet and Income Statement Bal. Account Nos.

Statistical account transactions can, also, be added to Purchase Orders, Purchase Invoices, and Sales Invoices, etc. if tracking a measure directly related to the document – like quantities. However, the process must include lines for both the statistical account and the offsetting reversal to avoid changing the value of the document. Without intervention, these line items will appear on your outward facing documents (customer invoices.)

Year End Close Income Statement

Income Statement type accounts will close with the Close Income Statement process. The statistical accounts, with the offsets, should net to zero.

Results

Balance Sheet accounts continue to accumulate across years and Income Statement accounts clear through the Year End process.

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