"The To General Ledger Account field does not contain a balance sheet account type." Why do you receive this notification and what can you do to resolve it?

The standard report 'Balance Sheet per Period' shows the totals of the income statement over a specified period. It groups revenues and expenses by category and shows the totals of debit, credit, and balance for each group. There is a distinction between different sub-levels, and the report includes options to suppress categories with no value. The goal is to provide insight into the financial performance of the organization during a specific period.

The standard report 'Result Comparison' shows a comparison of the financial results at the general ledger level compared to the budget and the previous fiscal year. It compares the actual balances with the budgeted amounts per category, calculates variations and ratios. These variations are presented at different detail levels (sub 1, sub 2, total). The report is intended to provide insight into where the actual costs or revenues deviate from expectations, including the option to include period 99 in the analysis.

The standard report 'Condensed Result Comparison' provides an overview of the balance/budget factor, period budget, period balance, and discrepancies per general ledger account.

"The field 'To General Ledger Account' has not been entered for account '%1' which is required for a profit & loss account." Why do you receive this notification and what can you do to resolve it?

BCO helps you to increase your insight into the financial situation of your company and puts you in a better position to determine your cost price. Do you have knowledge of cost prices and do you know the BCO modules? In this article you will find a step-by-step plan to easily set up BCO.

BCO stands for Budgeting, Controlling, Optimizing. BCO helps you increase your insight into your company's financial situation and enables you to better determine your cost price. By budgeting your hours and costs now, you will fully cover your business expenses for the coming year with direct and indirect hours, and you will maintain the alignment between order result and business result.

Budgets can be allocated to ledger accounts and distributed across the periods of the fiscal year. This can be done linearly, based on the realized figures from the previous year, or according to BCO working days. Cost centers can be utilized in the distribution process.

Notifications may appear both when creating and updating the fiscal year. If these appear, the fiscal year must be recreated or updated after the error(s) have been resolved. Some examples of common error messages and the possible solutions and/or follow-up actions are in this article.

The standard dashboard 'Result Comparison 5 Years' shows the result per general ledger account for the past 5 years. This dashboard can be used to monitor how the result has changed over recent times.

The final step in the period closure is managing the financial reporting. Once all financial transactions are correctly processed, various reports can be generated in MKG. This includes not only mandatory reporting to the Tax Authorities but also various internal reports.

The creation and maintenance of general ledger accounts in MKG is done in the 'General Ledger Accounts' module.

MKG has three ways of furnishing: Basic, Basic+ and Customer-specific. Which set-up you have for your financial administration is chosen during the implementation process. This article shows the differences between the three setups.

To link actions in MKG's logistical processes to financial bookings, you can use four process groups: for sales, purchases, inventory, and production. The settings of the inventory group(s) can be found in the process table 'Inventory Groups'.

Quickly gain insight into sales results? The standard dashboard 'Sales Analysis Financial' offers an analysis of the sales postings of the selected periods from the registered fiscal year based on financial transactions.

Crediting means giving a 'discount' on a previously created invoice, for example, because a product arrived damaged to the customer. Crediting affects the result. In this article, you will learn how to create a credit invoice.

The standard dashboard 'Trial Balance' provides an overview of the balances of all general ledger accounts, divided into balance sheet and profit and loss. The general ledger categories can also be viewed in an aggregated form up to 2 levels.

The standard dashboard 'General Ledger Account Result Comparison' provides an overview of the balances of all profit and loss general ledger accounts for the registered fiscal year, along with the associated budgets. The period balances are compared with the previous fiscal year.

The standard dashboard 'Period Balance Sheet' provides an overview per general ledger account of the balance sheet and the profit and loss account.

In the process table 'Other Cost Types', types of other costs can be created. Access to this process table is available through both the Purchase module and the Sales module.